Financial Corruption in the Modern Era and its Prevention in the Light of the Quran and Hadith

Abstract

The love of wealth and riches is inherent in human nature. Keeping in mind human nature, Islam did not completely prohibit wealth accumulation, but rather defined certain rights in this wealth so that justice and fairness are established among human beings and corruption and mismanagement do not get a chance to flourish. Therefore, Islam does not like it when only a few people control all the wealth and riches of society, and the rest are forced to live a life of poverty and helplessness. Therefore, Islam gives strict warnings to those who hoard wealth and do not spend it on the needy. Financial corruption is a complex and deep-rooted problem that cannot be completely eradicated immediately. The Quran and Hadith strongly condemn all forms of financial corruption and teach the establishment of a pure, transparent, and just economic system. In the present era, comprehensive measures such as faith awareness, a strong legal system, transparency, accountability, and raising public awareness are indispensable to curb these evils. Muslims must firmly hold on to these Quranic and Prophetic principles in their individual and collective lives to create a healthy, transparent, just, and prosperous society.