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Purpose The purpose of this paper is to show how individual law is defined in Islam. Individual law includes a set of human rights that the government is bound to vindicate by duty. Islamic law approach is how human beings transcendence, and freedom may be formed wisely. Design/methodology/approach Spiritual flourishing is the goal of Islamic Sufism. The main topics of individual freedom are discussed here are freedom of opinion, will, religion, speech, meeting, minorities, rule of law, equality before law, rights resulted from implementing justice, ownership and self-determination of destiny and jobs, which are explained through the Islamic Sufism viewpoint. Findings By comparing individual law in Islamic law with the other law schools, transcendence of the former is more clarified. Research limitations/implications Comparative research of the other religions’ gnosticism will develop the paradigm. Practical implications The principles highlighted in this study can be used for applied debates in the field to promote individual law for understanding and recompilation. Social implications Delicateness, truthfulness and righteousness of Islamic Sufism may turn the attentions of scholars and researchers to this rich viewpoint. Originality/value Individual law scholars have not touched the topic from this viewpoint. This paper opens new challenging area.

Purpose The purpose of this paper is to investigate the first causes of right, law and legislation, namely, the philosophy of law. To know the principles of right, it is essential to recognise its aim. The concept of “Justicia” is in full agreement with Islamic law. The adaptation of duty to genesis and nature is crucial to distinguish the legal and illegal domains of deeds. The legislation domain is one of the subjects of this paper. Design/methodology/approach In Sufi viewpoint, justice stands for: “Putting everything in its own place that causes its utmost growth”. This definition expands the domain of legislation by focusing on ethics and humanitarian transcendence. It not only considers equal living and civil rights for all the people, but also provides more additional rights for those who are more aptitude to grow. Findings Determining law-making borders raises the major question that how far it should be extended, providing the acceptability and stability of laws. Practical implications People are not equal to each other, but this inequality is not to be for domination or exploitation of the others. It means that the talent and growth capability of every individual in different situations differ. Social implications Real Islamic justice forces that everyone receives his right due to his/her growth eligibility and up to his/her level of inherent aptitude. Originality/value The depth of this approach has not been fully discussed yet.

Purpose This paper aims to define a new system to facilitate obtaining reliable collaterals and guarantees for financial activities from tangible assets through a new financial instrument of “guarantee certificates”. Design/methodology/approach This system makes it possible to securitize movable/immovable assets into negotiable paper lots, namely, “guarantee certificates”. Each lot of these certificates can be used as a guarantee or collateral for any guarantee-backed activity in banks or other activities. Findings The mortgage securitization system (MSS) securitizes tangible assets and provides necessary collaterals and guarantees to be used for different purposes. The operations are carried out through notary offices. This system, as a complementary system of the Rastin Banking system, can also be executed separately. Research limitations/implications The system is novel and needs to be more elaborated for further practical development and adjustment. Although this paper deals with only securitization of tangible assets, research can also be extended to securitization of intangible assets, through new institutions and rules. Practical implications Many properties and assets can be used as guarantees for observing obligations. The available ways for changing (especially large) properties into small guarantees are not easy and efficient. The MSS was designed to break large assets into many guarantee (certificate) lots and reduce the formalities of mortgaging and its transfer. Social implications This system provides reliance and security upon collaterals and conditions for fast claim-clearing and low formalities without time-consuming adjudication processes. Originality/value Complementary systems in Rastin Banking have been designed to solve prevailing problems of banking and financial activities. The MSS was designed to provide necessary arrangements for transforming assets into negotiable papers.

Purpose This paper aims to define a new system for detecting money-laundering activities by comparing tax payments (especially value-added tax) data to banking transactions data. Design/methodology/approach A money laundering detection (MLD) system provides the necessary bases for detecting deception and fraud. Though MLD is a complementary system of the Rastin Banking system, it can also be installed and executed separately. Findings The underground economic activities can be detected and traced by comparing banking information and transaction information in MLD system. It needs to force the direct transactors or other related forms of transaction to perform their money operations through the banks. In the next step, the tax information of transactors (in a chain of transactions) can be compared with them, and the incompatibility of the two sets of data will explore money-laundering operations. Research limitations/implications This system is novel and needs to be more elaborate to remove further practical problems and specific cases. Practical implications MLD system provides necessary protection for those who perform legal economic activities by detecting financial criminals. Social implications Money laundering harms individual and public rights as well as economies. Financial crimes, tax evasion, smuggling, conspiracy, embezzlement and various other offences are included in the general definition of money laundering, so detecting them will lead to important economic improvements in the society as well as international community. Originality/value MLD system provides structural and electronic bases for computerized tax data and banking data comparison.