Open AccessThe Reality of Financial Corruption in Kuwait: A Procedure Research According to Corruption Perception Index & Related Rules
Author(s) -
Melfi Al Azemi,
Abdel Majeed Al Omari,
Tawfeeq Al Omrani
Publication year - 2019
Publication title -
the international journal of business ethics and governance
Language(s) - English
Resource type - Journals
ISSN - 2717-9923
DOI - 10.51325/ijbeg.v2i2.52
Subject(s) - language change , money laundering , state (computer science) , political corruption , government (linguistics) , punishment (psychology) , index (typography) , business , finance , political science , economics , law , politics , psychology , social psychology , art , linguistics , philosophy , literature , algorithm , world wide web , computer science
The study aimed at highlighting the reality of financial corruption in accordance with corruption perception index and some other related rules in the state of Kuwait. The study covered the international and local reports on the levels of financial corruption in Kuwait and its impacts on the economic development within the period from 2003 to 2019. The results indicated that there is a high indicator of financial corruption in the State of Kuwait that started to increase during the last ten years in all of it aspects including issue of money laundering, bypasses, manipulating the money of sovereign fund to invest in suspicious projects, the real-estate swindle, issues related to investing the money of the Public Institution of Social Insurance (retirement sums) and so on. The researchers got to a group of recommendations and proposals in both penal and Shariaa sides including activating the religious speech in all types of media, tribunes of mosques as well as all religious institutions about the danger of financial corruption on individual and society. It is also by warning people about out God punishment against every spoiler, activating the role of religion members in all attempts of government to fight the financial corruption phenomenon in the state with definitely adherence to the Islamic law principles in all financial issues of the state, agreements and so on. Moreover, it is very necessary to activate the most extreme laws and penalties against perpetrators of financial corruption without and exception.