Banking, procurement & AML controls
This criterion evaluates whether the organization has established robust controls for banking operations, procurement processes, and anti-money laundering (AML) compliance. While most charities are not 'regulated persons' under the Money Laundering Regulations (MLR) 2017, they must strictly comply with the Proceeds of Crime Act 2002, Terrorism Act 2000, and UK Sanctions regimes. This criterion adopts MLR standards as a proportionate 'good-practice benchmark' to prevent fraud, ensure value for money, and safeguard assets. It covers the full procure-to-pay lifecycle, sanctions screening, and financial crime prevention.
Ḥisbah
Accountability and the collective duty to enjoin good and forbid wrong in market/financial conduct.
Amānah
Trust/Stewardship: fulfilling financial obligations with honesty and integrity.
Sadd al-Dharā'i
Blocking the means to evil; the basis for preventative controls against fraud and laundering.
Maṣlaḥah
Public interest: protecting beneficiary resources through robust controls.
Gharar
Avoidance of uncertainty: requiring clear specifications and contracts.
Al-kharaj bi al-daman
Entitlement to return is tied to liability; reinforces that those with approval authority must bear accountability.
Iḥsān
Excellence: striving for perfection in financial systems beyond mere compliance.
Adl
Justice: ensuring equitable treatment of suppliers and merit-based procurement.
Itqān
Proficiency/Excellence: precision in reconciliations and disciplined adherence to procedure.
Related Criteria
Discussion (1)
📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json
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