summary reading through powerpoint

1. Nur Suhaili Ramli
University of York, UK

3.  In Islam, ethics governs all aspects of life.
 The conditions for everlasting success or falah in Islam are the same
for all Muslims–whether in conducting their business affairs or in
carrying out their daily activities.
 Islam is a way of life, including in business, everyday activities,
study, marriage, working, charity – all aspects
 Business and entrepreneurship – encouraged in Islam.
 Moral principles and codes of ethics are repeatedly stressed throughout
the Holy Qur’an.
“You are the best nation that has been raised up for mankind; You enjoin
right conduct, forbid evil and believe in Allah” (Quran 3:110)

4. Islamic Ethical System Secular Ethical SystemVS

5.  In Islamic view, business ethics is referring closely related to khuluq
that mentioned in Quran, which is a great moral character. (Quran
68:4)
 In Quran describes the concept of goodness in every aspect
including business.
 Islam encourages entrepreneurship activities as the source of
income.
 For example: Prophet Muhammad (PBUH) was also known to
have engaged in entrepreneurial activities.
 Prophet Muhammad (PBUH) mentioned that 9/10 of sources of
rezeki (incomes) can be derived from business activities
 Islamic ethical system substantially differs from the so-called secular
ethical systems.

6. Believe and philosophy
Trust
Legitimate
resources on
acquiring
property
Order to
expenditure
Zakat
Parsimony
(thriftiness)
/economic
order
Lawful
earning
Honesty in
business
dealings
Bounty
and
humanity
in business
contacts
Satisfying
all
business
obligations
Reasonable
handling of
staff
Mutual
esteem
Clear
business
transactions
Purchasing,
and buying
justly

7.  Moral principles that distinguish between right and wrong doing.
Business
Ethics
Management
ethics
Organizational
ethics
Leadership
Organization
Islamic concept
• Concept of syumul
(integrated) which he
argued to mean that
entrepreneurship could
not be separated or
isolated from Islam itself
• Entrepreneurship falls
within the system of
Islam
• This system includes;
Islamic faith, law, moral
and ethics.
• Example: Figure 1
Figure 1: System of Islam, Integrated concept of syumul

8. khayr (goodness)
birr
(righteousness)
qist (equity)
'adl (equilibrium
and justice)
haqq (truth and
right)
ma'ruf (known
and approved)
taqwa (piety)
Concept of
goodness
Figure 2: Concept of goodness in Islam

9.  The system prescribes certain specific guidelines for governing
business ethics;
Counts the general ethical
rules of business conduct
Classifies ethically desirable
forms of business
States the undesirable modes
of transactions.

10.  Quran
 Rafik Issa Beekun, 1996, Islamic Business Ethics
 Sabahuddin Azmi, An Islamic Approach to Business Ethics,
http://www.renaissance.com.pk/Mayviewpoint2y5.htm
 Muhammad Hashim, 2012,
 Islamic Perception of Business Ethics and the Impact of Secular
Thoughts on Islamic Business Ethics ,
http://www.hrmars.com/admin/pics/656.pdf