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 Business in Islam
 Principal Islamic business ethics:
Honest, Trustworthy, that's right, just.
 Islamic business ethics in general:
love, respect, tolerance, etc..
 Principles of Islamic business: Avoid
illegal, riba, gharar and maisir.
 Claims correct weights and
measures
 Prohibition monopoly and
speculation
 Prohibition accumulation of wealth
 The rights of the public in business
 The conversion process of goods or services in
order to meet the needs of the world and life
hereafter.
 Business is an activity / process / tools that help
each other to meet the needs of life
(dhoruriyyat, hajiyyat, tahsiniyyat / kamaliyyat) in
order to please Allah S.W.T.
 Business revenue/profit is a reward and it is not
the primary goal of business. The ultimate goal is
to achieve the pleasure of Allah S.W.T.
 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.
9. Wahai orang-orang yang beriman! Apabila diseru untuk melaksanakan shalat
pada hari Jum'at, maka segeralah kamu mengingat Allah dan tinggalkanlah jual
beli. Yang demikian itu lebih baik bagimu jika kamu mengetahui.
10. Apabila shalat telah dilaksanakan, maka bertebaranlah kamu di bumi; carilah
karunia Allah dan ingatlah Allah banyak-banyak agar kamu beruntung.
11. Dan apabila mereka melihat perdagangan atau permainan, mereka segera
menuju kepadanya dan mereka tinggalkan engkau (Muhammad) sedang berdiri
(berkhutbah). Katakanlah, "Apa yang di sisi Allah lebih baik daripada permainan
dan perdagangan,” dan Allah pemberi rezeki yang terbaik
(Surah Jumuah : 9-11)
Ethical Principals in business: Honest,
Trustworthy, that's right, just.
Ethical Principals In Business
 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)
 Trust is a moral virtue and duty incumbent on a Muslim in
the performance of his affairs. It demands sincerity in work
and purity of intention from every believer.
 avoid fraud, deception, and other dubious means in selling
his merchandise. 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)
 Treat people equally – fairness
 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...”
 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 )
LOVE
RESPECT TOLERANCE
SINCERE
NO ILLEGAL,
RIBA, GHARAR
MAISIR
CORRECT
WEIGHTS
& MEASURES
NO
MONOPOLY
&
SPECULATION
NO ACCUMULATION OF WEALTH
THE RIGHTS OF THE
PUBLIC IN BUSINESS

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Islamic ethics in business chapter 5

  • 1.
  • 2.  Business in Islam  Principal Islamic business ethics: Honest, Trustworthy, that's right, just.  Islamic business ethics in general: love, respect, tolerance, etc..  Principles of Islamic business: Avoid illegal, riba, gharar and maisir.  Claims correct weights and measures  Prohibition monopoly and speculation  Prohibition accumulation of wealth  The rights of the public in business
  • 3.  The conversion process of goods or services in order to meet the needs of the world and life hereafter.  Business is an activity / process / tools that help each other to meet the needs of life (dhoruriyyat, hajiyyat, tahsiniyyat / kamaliyyat) in order to please Allah S.W.T.  Business revenue/profit is a reward and it is not the primary goal of business. The ultimate goal is to achieve the pleasure of Allah S.W.T.
  • 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. 9. Wahai orang-orang yang beriman! Apabila diseru untuk melaksanakan shalat pada hari Jum'at, maka segeralah kamu mengingat Allah dan tinggalkanlah jual beli. Yang demikian itu lebih baik bagimu jika kamu mengetahui. 10. Apabila shalat telah dilaksanakan, maka bertebaranlah kamu di bumi; carilah karunia Allah dan ingatlah Allah banyak-banyak agar kamu beruntung. 11. Dan apabila mereka melihat perdagangan atau permainan, mereka segera menuju kepadanya dan mereka tinggalkan engkau (Muhammad) sedang berdiri (berkhutbah). Katakanlah, "Apa yang di sisi Allah lebih baik daripada permainan dan perdagangan,” dan Allah pemberi rezeki yang terbaik (Surah Jumuah : 9-11)
  • 6. Ethical Principals in business: Honest, Trustworthy, that's right, just. Ethical Principals In Business
  • 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.  Trust is a moral virtue and duty incumbent on a Muslim in the performance of his affairs. It demands sincerity in work and purity of intention from every believer.  avoid fraud, deception, and other dubious means in selling his merchandise. 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)
  • 9.  Treat people equally – fairness  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...”
  • 10.  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 )
  • 11. LOVE RESPECT TOLERANCE SINCERE NO ILLEGAL, RIBA, GHARAR MAISIR CORRECT WEIGHTS & MEASURES NO MONOPOLY & SPECULATION NO ACCUMULATION OF WEALTH THE RIGHTS OF THE PUBLIC IN BUSINESS