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)
Islamic Ethical System Secular Ethical SystemVS
In Islamic view, business ethics is referring closely related to khuluq
that mentioned in Quran, which is a great moral character. (Quran
In Quran describes the concept of goodness in every aspect
Islam encourages entrepreneurship activities as the source of
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
Believe and philosophy
Moral principles that distinguish between right and wrong doing.
• Concept of syumul
(integrated) which he
argued to mean that
not be separated or
isolated from Islam itself
• Entrepreneurship falls
within the system of
• This system includes;
Islamic faith, law, moral
• Example: Figure 1
Figure 1: System of Islam, Integrated concept of syumul
haqq (truth and
Figure 2: Concept of goodness in Islam
The system prescribes certain specific guidelines for governing
Counts the general ethical
rules of business conduct
Classifies ethically desirable
forms of business
States the undesirable modes
Rafik Issa Beekun, 1996, Islamic Business Ethics
Sabahuddin Azmi, An Islamic Approach to Business Ethics,
Muhammad Hashim, 2012,
Islamic Perception of Business Ethics and the Impact of Secular
Thoughts on Islamic Business Ethics ,