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BUSINESS ETHICS IN ISLAM

Presented By:
Muhammad Ali (59935)

Presented To:
Sir Mir Akbar Ali
Khan
You are the best of peoples, evolved for
mankind, enjoining what is right, forbidding
what is wrong, and believing in Allah
(Quran 3:110)
DEFINING ETHICS
Ethics is defined as a branch of philosophy
that deals with moral behavior.
Ethics may be defined as the set of moral
principles that distinguish what is right from
what is wrong.
It is a normative field because it prescribes
what one should do or abstain from doing.
THE MEANING BUSINESS ETHICS IN ISLAM

Like Christianity and Judaism, Islam tackles


business issues and behavior directly and indirectly.
Whether instructions are business specific or
are general, they have been analyzed and addressed
by early Muslim Scholars since the inception of Islam
Deception and fraud may sell the goods but lose
the blessings
(Al
Ghazali, 2004, p30)

He who can not keep his trust has no faith and he


who cannot fulfil his promise has no religion
(Al
ghazali, 2004, p35)
FAITH (TAQWA)
It is the major framework. Muslim entrepreneurs must have faith in Allah
(SWT) in order to prosper in their businesses. Allah mentions in the
Quran;

O you who have believed, shall I guide you to a transaction that


will save you from a painful punishment? [It is that] you believe
in Allah and His Messenger and strive in the cause of Allah with
your wealth and your lives. That is best for you, if you should
know.

(Al-Saff 61:10-11)
CONDUCT PERMISSIBLE BUSINESS
Muslims specifically required to conduct only those businesses which are
considered halal or acceptable according to the rules laid down by the
Quran.

O ye people! eat of what is on earth, lawful and good; and do


not follow the footsteps of the evil one, for He is to you an
avowed enemy.
(Al-
Baqarah. 2: 168)
KEEP YOUR MORALS HIGH
Practicing high moral values while conducting any business has been
heavily emphasized in the Quran and the hadith.

But Allah hath permitted trade (bay) and forbidden usury


(riba).
(Al-Baqarah
2:275)
HOW WORLD RELIGION VIEW
BUSINESS ETHICS
CHRISTIANITY
Ye shall not steal, neither deal falsely, neither lie one
to another. (Leviticus 19:11)

Learn to do well; seek judgment, relieve the


oppressed, judge the fatherless, plead for the
widow. (Isaiah 1:17)
JUDAISM

Jewish business ethicsis a


form of appliedJewish
ethicsthat examines ethical
issues that arise in a business
environment. It is notedthat
in theTorah
HINDUISM
It is most difficult to defineEthics.
Ethicshas been explained to be that which helps the upliftment of
living beings.
Therefore, that which ensures the welfare of living beings is
surelyEthics.
The learned rishis have declared that which sustains isEthics.
(Karna Parva Ch. 69 Verse 58)