presentation BE in business ethics in islamic perspective

business ethics in islam

1.  Set of moral principles that distinguish what is right from what is wrong.  Evaluates human practices.  Prescriptive advice on how to act morally.

2.  Branch of ethics that examines ethical rules and principles within a commercial context.

3.  Islam places the highest emphasis on ethical values in all aspects of human life.  In Islam, ethics governs all aspects of life.  The Prophet (P.B.U.H) said: " I h av e b ee n s e n t f o r t h e pu r pos e o f p er fecting good morals."

4.  The Prophet and his followers have also been involved in the business, i.e. Khadijah is a successful trader.     90% of the source of income comes from business/trade. A true and honest dealer will enter the paradise, in the Hereafter, with the righteous people, the martyrs, and prophets. Islam also spread through business activities, i.e. Malaysia, Indonesia, Brunei... etc. Many Quranic verses related to business.

5. Ethical Principals In Business Ethical Principals in business: ff Honest, Trustworthy, that's right, just.

6. H O N E STY: Secret of success in business. Islam encourages truthfulness in business transactions and raises the status of a truthful merchant. Allah blesses business dealings if both the buyer and the seller are true to each other.

7.  Islam encourages truthfulness in business transactions and raises the status of a truthful merchant so .   Allah blesses business dealings if both the buyer and the seller are true to each other. Telling lies and hiding facts will result in the loss of divine blessing The Prophet (saw) has also urged the believers to strictly obey to truthfulness in business transactions. He says: “The seller and the buyer have the right to keep or return the goods as long as they have not parted or till they part; and if both the parties spoke the truth and described the defects and qualities [of the goods], then they would be blessed in their transaction, and if they told lies or hid something, then the blessings of their transaction would be lost.” (Bukhari, No: 1937)

8. “HONESTY IS THE ONLY POLICY”

9. Trust is a moral virtue and duty incumbent on a Muslim in the performance of his affairs. It demands sincerity in work, avoid fraud, deception, and other dubious means in selling his merchandise.

10.   The sense of mutual trust demands that the pros and cons of commodity be revealed to the buyer so that he purchases the commodity in full satisfaction. Says the Holy Qur’an:O you believers! Do not betray Allah and the Messenger, nor knowingly, betray your trusts. (8:27)

11. Treat people equally. Traders should moderate in all things without profitable side party. fair or equal treatment of all our customers. consider fair and unbiased and gives the right to the right.

12.     traders should be moderation in all things without profitable side party, fair or equal treatment of all our customers, consider fair and unbiased. represents moral rectitude and fairness, since it means things should be where they belong “God commands justice and fair dealing...”

13. Islam puts certain conditions and restrictions to obviate the chances of bitterness between the employer and employees. Fair wages on time. good working conditions. suitable work and excellent brotherly treatment should be provided to the workers .

14.  The Prophet is also reported to have said : “The wages of the labourers must be paid to him before the sweat dries upon his body.” (Ibn Majah, No: 2434)  “And approach not the property of the orphan except in the fairest way, until he [or she] attains the age of full strength, and give measurement and weight with justice…” ( Surah Al – An’am , 152 )

15. what Islam allow: seller has right to place Profit as much he wants but when there is alternative. If there is monopoly in some product then the profit margin need to be small . what ethics says: In any situation your profit margin should not be double than your cost.

16. Bribery. Usurping others’ property. Fraud. (Al-Baqarah: 188) (Al-Baqarah: 188) (Al-Imran: 161) Stealing and Robbery. (Al-Maida: 38) Income from sources of vulgarity. (Al-Noor: 19) (Al-Maida: 90) (Al-Maida: 90) (Al-Baqarah: 275) Gambling. Wine and its business. Interest. Hoarding of foodstuff.

17. Islam prohibits certain type of business due to the “concern to protect health and life” (Zinkin 2005). WHY ISLAM PROHIBITS SUCH TYPE OF BUSINESS ?

18. The Prophet said: “A truthful and trustworthy merchant is associated with the prophets.” (Al-Tirmidhi, Hadith 50)

19. LOVE RESPECT TOLERANCE SINCERE NO ILLEGAL, RIBA, GHARAR MAISIR C O RR E C T WEIGHTS & MEASURES NO M O N O P O LY & S P E C U L A TI O N NO ACCUMULATION OF WEALTH THE RIGHTS OF THE PUBLIC IN BUSINESS