Show simple item record

dc.contributor.authorNathie, Mahmooden_US
dc.contributor.authorDrew, Jacquelineen_US
dc.contributor.authorDrew, Michaelen_US
dc.date.accessioned2017-05-03T12:58:40Z
dc.date.available2017-05-03T12:58:40Z
dc.date.issued2012en_US
dc.date.modified2013-06-10T23:46:26Z
dc.identifier.issn01281976en_US
dc.identifier.urihttp://hdl.handle.net/10072/47013
dc.description.abstractPonzi schemes using the principles of affinity fraud are a real and current risk for Islamic investors. This paper examines the use of affinity fraud in targeting the Islamic community and analyses Shari'ah norms that seek to protect people from fraud and cheating. Using case studies from three countries, the paper identifies the common traits pervasive in Ponzi schemes including legal ruses aimed at circumventing the Shari'ah interdiction on interest and other proscriptive acts by unscrupulous and fraudulent operators. The examination shows that the nascent Islamic finance market should be vigilant of copycat schemes that have the potential to undermine the industry. Like other affinity frauds, there is the need to develop early warning systems aimed at preventing, or at least minimising, the prevalence of such schemes in the Islamic financial industry.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_US
dc.languageEnglishen_US
dc.language.isoen_US
dc.publisherInternational Shari'ah Research Academy for Islamic Finance (ISRA)en_US
dc.publisher.placeMalaysiaen_US
dc.publisher.urihttp://www.isra.my/publications/journal-english.htmlen_US
dc.relation.ispartofstudentpublicationNen_US
dc.relation.ispartofpagefrom7en_US
dc.relation.ispartofpageto37en_US
dc.relation.ispartofissue1en_US
dc.relation.ispartofjournalISRA International Journal of Islamic Financeen_US
dc.relation.ispartofvolume4en_US
dc.rights.retentionYen_US
dc.subject.fieldofresearchFinanceen_US
dc.subject.fieldofresearchCriminology not elsewhere classifieden_US
dc.subject.fieldofresearchcode150201en_US
dc.subject.fieldofresearchcode160299en_US
dc.titlePonzi operandi: Affinity fraud risk for shari'ah-compliant investment fundsen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
gro.date.issued2012
gro.hasfulltextNo Full Text


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

  • Journal articles
    Contains articles published by Griffith authors in scholarly journals.

Show simple item record