Beneficial Ownership in the Perspective of Islamic Criminal Law

Muhammad Wahyu Rizky Zainal 1, Nur Azisa 2,

Muhammad Arfin Hamid 3, & Ahsan Yunus 4

https://doi.org/10.62271/pjc.171.139.152

Abstract

Beneficial ownership has become crucial in handling economic crimes like money laundering, tax evasion, and corruption. Regulations in Indonesia, such as Presidential Regulation No. 13/2018, require beneficial ownership reporting. However, its implementation still faces various challenges, including low company compliance and the use of shell companies to hide assets. From the perspective of Islamic criminal law, these acts can be categorized as jarimah ta’zir, especially when they involve elements of deception (tadlis) and uncertainty (gharar), which contradict maqasid al-shariah principles. This research explores Islamic law’s ideal criminal liability model for beneficial owners. Through a normative-juridical approach, this research finds that Islamic law offers the principles of ta’zir, hisbah, and restorative justice in dealing with economic crimes. The concept of hisbah, as a preventive supervisory mechanism, and sharia auditing can effectively prevent asset misappropriation. Integrating sharia principles with national regulations is expected to strengthen the Indonesian legal system and create economic justice. The results show that applying Islamic law-based criminal liability models emphasizes punishment, restoration, and prevention. Therefore, combining ta’zir and restorative justice principles can be a comprehensive alternative to prevent future economic crimes while strengthening the financial system’s integrity.

Keywords: Beneficial ownership; Islamic criminal law; jarimah ta’zir; gharar and tadlis; restorative justice; hisbah; money laundering; asset transparency.