The Role of Islamic Banking in Preventing and Overcoming Online Gambling through the Application of Sharia Principles

Fadia Fitriyanti; Syahmilian Putri

doi:10.31328/wy.v7i3.5401

Authors

Fadia Fitriyanti Faculty of Law, Universitas Muhammadiyah Yogyakarta
Syahmilian Putri Universitas Muhammadiyah Yogyakarta

DOI:

https://doi.org/10.31328/wy.v7i3.5401

Abstract

Online gambling has become a significant social concern, particularly among Muslim communities. The allure of quick riches and the ease of accessibility through the internet have contributed to the rise of online gambling addiction. Islamic banking, with its adherence to Sharia principles, offers a unique perspective on addressing this issue. This paper explores the potential role of Islamic banking in preventing and overcoming online gambling through the application of Sharia principles. The main objective of this paper is to examine how Islamic banking can contribute to curbing online gambling by promoting financial literacy, fostering responsible financial behavior, and providing alternative investment options aligned with Sharia principles. The paper also aims to identify specific Sharia-compliant financial products and services that can be employed to reduce the appeal of online gambling and encourage individuals to seek more ethical and sustainable forms of wealth creation. This paper demonstrates that Islamic banking, guided by Sharia principles, holds immense potential to address the growing concern of online gambling among Muslim communities. By implementing tailored financial solutions and fostering a culture of financial responsibility, Islamic banking can contribute to a healthier and more ethical financial landscape for all.

References

Alwi, Z., Dwi, R., Parmitasari, A., & Syariati, A. (2021). Heliyon An assessment on Islamic banking ethics through some salient points in the prophetic tradition. Heliyon, 7(October 2020), e07103. https://doi.org/10.1016/j.heliyon.2021.e07103

Aysan, A. F., Belatik, A., & Unal, I. M. (2022). Fintech Strategies of Islamic Banks : A Global Empirical Analysis. 206â€“215.

Aziz, A., Shafeeq, M., Bashir, G., & Tauqeer, S. R. (2023). The Sharia Compliance of Online Commerce and Networking : An Analytical Study Assistant Professor of Islamic Studies , Punjab University of Technology Rasul Mandi Bahauddin Department of Islamic Studies , G C Women University Faisalabad , This analytical study investigates the compatibility of online transactions and networking with Sharia principles and assesses the ethical and legal aspects of conducting business and building relationships in the digital age while adhering to Islamic values . The purpose is in an increasingly interconnected world , the Internet has revolutionized commerce and communication , raising new questions about adherence to Islamic jurisprudence . This study investigates important aspects of online commerce and networking such as online trading , digital marketing , and social networking to assess compliance with Shari â€™ ah Network Companies : 31, 447â€“456.

Ferna, F., Mencho, J. M., Potenza, M. N., & Jime, S. (2020). Gambling During the COVID-19 Crisis â€“ A Cause for Concern. 14(4), 19â€“21. https://doi.org/10.1097/ADM.0000000000000690

Han, X., Wang, L., Xu, S., Zhao, D., & Liu, G. (2019). Computers & Security Recognizing roles of online illegal gambling participants : An ensemble learning approach. 87. https://doi.org/10.1016/j.cose.2019.101588

Hutchinson, T., & Duncan, N. (2021). Defining and Describing What We Do: Doctrinal Legal Research. Deakin Law Review, 17(1), 83. https://doi.org/10.21153/dlr2012vol17no1art70

Liizzah, I., Agus, A., & Dewi, P. (2023). Islamic Views and Calls to Invest According to the Al-Qur â€™ an Surah Al- Hashr Verse 18. 1(1), 18â€“26.

Nabella, S. D., Rivaldo, Y., Kurniawan, R., Sina, U. I., & Batam, U. I. (2023). THE EFFECT OF FINANCING ON ISLAMIC BANKING ASSETS WITH NON-. 12(01), 998â€“1004.

Riley, B. J., Oster, C., Rahamathulla, M., & Lawn, S. (2021). Attitudes , Risk Factors , and Behaviours of Gambling among Adolescents and Young People : A Literature Review and Gap Analysis.

Scott, S., Hughes, P., Hodgkinson, I., Kraus, S., Dh, D., & Kingdom, U. (2019). Technological Forecasting & Social Change Technology adoption factors in the digitization of popular culture : Analyzing the online gambling market. Technological Forecasting & Social Change, 148(August), 119717. https://doi.org/10.1016/j.techfore.2019.119717

Serna, C., GarcÃa-perales, J., & MartÃnez, I. (2023). Protective and Risk Parenting Styles for Internet and Online Gambling Addiction. 2023.

Sukmana, R., Rohmatul, S., Cahyaning, S., Salama, U., & Hudaifah, A. (2020). Heliyon Financial performance of rural banks in Indonesia : A two-stage DEA approach. Heliyon, 6(February), e04390. https://doi.org/10.1016/j.heliyon.2020.e04390

Sumilat, R. R., & Novita, N. (2023). Online Gambling Practices ( Positive Legal , Social , And Religious Review ). 6(3), 1568â€“1573.

Swanton, T. B., & Gainsbury, S. M. (2020). ScienceDirect Gambling-related consumer credit use and debt problems : a brief review. COBEHA, 31, 21â€“31. https://doi.org/10.1016/j.cobeha.2019.09.002

Swanton, T. B., Gainsbury, S. M., Blaszczynski, A., Swanton, T. B., Gainsbury, S. M., Blaszczynski, A., Gainsbury, S. M., & Blaszczynski, A. (2019). The role of financial institutions in gambling The role of fi nancial institutions in gambling. International Gambling Studies, 00(00), 1â€“22. https://doi.org/10.1080/14459795.2019.1575450