1. 7. As the most important pillar of Islamic teachings is belief and devotion to Allah [Allah], the concept of Tawheed was explained and its implications explored. Islamic principles can be achieved by following these few simple guidelines: ❋   Develop a good understanding of the rules of transactions by educating yourself in the subject and then abide by them under all circumstances. Birnamij Silsilat Kunuz Al-Sunnah I, Al-Jami’ Al-Sagheer Waziyadatih First Edition, [computer software], 1410 A.H. (1990) Indeed, one of the main challenges to humanity is to relate and harmonize such activities under divine guidance. From this passage, the nature of the human, as a physical-intellectual-spiritual being, is indicated. Prophet Muhammad (P) taught that “in [one’s] wealth there are claims other than Zakah.”11. [Qur’an, 83: 1-6], The Prophet addressed the problem of cheating in more than one Hadeeth. Abu Hurairah ra from the Prophet Muhammad said: Islam, Commerce, and Business Ethics Imad-ad-Dean Ahmad Minaret of Freedom Institute Plenary address at the Loyola Institute for Ethics and Spirituality in Business International Ecumenical Conference (June 10-12, 2004) INTRODUCTION Islam is the only major world religion founded by a businessman, although, in a sense, (b) Developing the spiritual and intellectual elements and bringing them into harmony with Divine will through conscious and committed submission to Allah the Islamic Literature with permission from W.B. Prophet Muhammad was even more explicit when he negated the quality of faith from a dishonest person even if he/she claims to be a “believer” As Ijtihad is a human endeavor, influenced by the needs of time, place and circumstances, such opinions may vary as well. That “pin” is normative Islam based on its universally accepted sources and teachings. 2, Hadeeth # 2179, p.735. Muslims are required to behave Islamically in their business dealings because Allah Himself is witness to their transactions: Worship of Allah is not mere formalism. Abdul-Baqi, Sunan Ibn-Majah, op.cit., Vol. It is true that reason alone is insufficient to understand all the mysteries of creation. One’s conception of human nature and his/her understanding and acceptance of the purpose of creation and the role of Khalifah determine how one sees his/her relationship to the natural and social order. Those who conduct business can… “To Allah belongs the dominion of the heavens and the earth, and all that is therein, and it is He who has power over all things.” [Qur’an, 5:123], This expression, however, is in relation to ultimate “ownership” of domain over the Universe. As production of goods and services or any “value added” is part of one’s It is believed that the paper will provide a better understanding of Muslim societies in general and Islamic managers in particular. Then We placed him/her as (a drop of) sperm in a place of rest firmly fixed; then We made the sperm into (something that) clings (or clot); the of that clot We made a (fetus) into (a chewed-like) lump; then We made out of that lump bones and clothed the bones with flesh; then We developed out of it another creature; so blessed be Allah the Best to create!” [Qur’an,23:12-14] 13. Moore, Keith, The Developing Embryo: Clinically Oriented Embryology The Developing What this means varies from one organizationto another. Hence, production is restricted by the following conditions: Whatever arrangement made with one’s “brother”, the message of this But if they give by measure or by weight [as sellers], they cause loss [to others by giving less than due]. 8. 22. “0 you who believe! Waheed, K.A., Islam and the Origins of Modern Science, Islamic Publication Ltd., Lahore Pakistan, 24. The following passage from the Qur’an sums up human nature: “Such is He, the Knower of all things, hidden and open, the Exalted [in Power], the Merciful; He who has made everything which He has created most good. Translated by me. The problem is not only with interest, but also the violation of the Prophet’s exhortation to avoid unnecessary debt. ]2 and dictated word-for-word by Archangel Gabriel. The real issue pertains to the macro-economics implications of the manner of utilizing resources in the context of a given prioritized social and economic needs. Khan, Muhammad M.[Translator],Translation of the Meaning of Sahih Al-Bukhari, Maktabat Al- The human endeavor is limited to understanding and implementing them in a manner that is suited to the needs of time, place and circumstances. Then every soul will be compensated for what it earned, and they will not be wronged [i.e. Al-Albani, op.cit, Vol 1, Hadeeth #9, P.11. Explaining how Allah inspired the honey bees, the Qur’an states: “Then eat of all the produce (of the earth) and find with skill the spacious paths of your Lord: there issues from within their bellies a drink of varying colors wherein is healing for people: verily in this is a sign for those who give thought.” The Qur’an affirms also the entitlement of reward that is commensurate with effort [7:170; 3:136; 99:7 and 46:19]. The growing complexity and diversity of business dealings and of life in general, a legitimate question: what defines a normative Islamic position in respect to a new issue or problem which is not directly addressed in the two primary sources of Islam?. It was previously indicated [section V] that the Qur’an clearly and explicitly stimulates research, development and improvement of the quality of life through the wise use and harnessing of the resources which Allah created for the benefit and comfort of the humankind. Some general guidelines govern the Islamic code of ethics with relation to both one’s daily life and business conduct. There is supposed to be no “supply” produced in the first place, nor is there supposed to be “demand” either in a community that accept such injunctions. This chapter examined the subject from the foundational normative perspectives. The Qur’an does not present the universe as an adversary of mankind. It represents the main ethical challenges before humankind: (a) Rising above the purely physical element and ruling over it instead of being ruled by it It is that “breath” which endows the human with the innate spiritual and moral qualities. A topic like business ethics is an integral part of the normative religious practice. To compartmentalize life into religious and secular, spiritual and mundane is contrary to the essence of Tawheed. Islamic Business Ethics And Practices Of Islamic Banks: Perceptions Of Islamic Bank Employees In Gul.pdf - Free download Ebook, Handbook, Textbook, User Guide PDF files on … The above analysis of the Islamic worldview makes it possible to understand the place and role of ethics in Islam, one manifestation of which is in the sphere of business. Khan, Muhammad M.[Translator], Translation of the Meaning of Sahih Al-Bukhari, Maktabat Al-Riyadh Al-Hadeethah, Riyadh, 1981, Vol. The Qur’an encourages spending [as opposed to hoarding], whether for one’s own needs, those of his dependents, close relatives and for charity at large. While Islamic law recognizes the right of the weak, young and poor for a minimum level of decent life, it discourages abuse of welfare systems or exploit people’s kindness when the person is able to seek work and earn his living. They are seen as part of the fulfillment of one’s role as a trustee of Allah on earth. This also includes the consideration of public interest as in the case of necessary expropriation of property deemed to be in public interest, such as the construction of public highways or other public facilities, provided that a just compensation is paid to the owner (hand) spent…” (Narrated by Bukhari and Muslim) as quoted in A. AI-Nawawi, Riyadh Al- 27. Muslim Women Are Fighting To Redefine Islam as a Religion of... Islamic Principles in Transactions❋   Ensuring that one has a sincere intention, namely that the object of transactions is to earn a living through lawful means in order to satisfy one’s basic needs and thus to enable oneself better to worship Allah and to shun the worship of wealth—which may otherwise have detrimental effects.❋   Observing high morals in transactions, for doing so testifies to one’s true worship of, and obedience to, Allah and this will certainly help increase one’s earnings.❋   Choosing only lawful projects, even if the profits may be minimal.❋   Choosing good partners and laborers on the basis of good moral conduct, as this is bound to lead to success and help gain more profits.❋   Giving the laborers their dues “before their sweat dries up” to motivate them and to prompt them to work vigorously.❋   Discharging one’s financial obligations to Allah, such as giving. for food], or one who cuts a tree for no good reason. 21. Muhammad, Khuluq Al-Muslim [In Arabic], Dar Al-Bayaan, Kuwait, 1970. They have hearts wherewith they understand not, eyes wherewith they see not and ears wherewith they hear not. We created you from a single (pair) of a male and a female, and made you In other words, definition and value of “goods” in Islam is not determined exclusively by market forces such as supply and demand. His teachings complete and culminate all earlier forms of revelation.5, Unity of the human race, created by Allah and descendants of the same Parents. “…Indeed, Allah will not allow to be lost the reward of any who does a good work” [18:30] Following are a few examples from the Qur’an which clearly stimulate research, discovery, development and improvement of the quality of life. This may explain why Prophet Muhammad summed up his mission in the following words: ❋   Employing people on the basis of emotional feelings and neglecting the importance of moral values and technical expertise. Allah says in the Qur’an , [ For you in the Messenger of Allah, there is a fine example to follow Prophet Muhammad (peace and blessings be upon him) was an ideal human being in every respect. 5. This is hardly the case in credit financing, whether for the purposes of production or consumption. The Prophet is presented in the Qur’an not only as the seal and last of all prophets, but also as the only messenger whose mandate and mission embraces the whole world. This is based on the instruction of the Prophet : 1. On one level all property is attributed to Allah alone. From an economist’s perspective, it is a case of enhancing information among the buyers and sellers. Allah is the only Creator, Sustainer and Cherisher of the Universe. 30. The result of such belief is that self-policing becomes the primary motive to avoid “evil” or “wrong”, more so than mere social controls which are incapable of policing everything. 42. AI-Nawawi, Riyadh Al- Saliheen. Individual opinions are not to be considered if they contradict those of the Muslim scholars or those of the jurisprudence academies. ❋   Failing to document debts and having others to witness them—which is also bound to lead to suspicion and disputes. There is more to transactions than simple trade; in Islam, there is a certain and specific “code of business ethics” that must be followed. Or, taking away their rights unlawfully—which is strictly forbidden. This results in greater sensitivity to the needs of the future generations. n.d. It is that challenge which qualifies the human race as the Khalifah (trustee) of Allah on earth. Ibid, Vol. Who, when they take a measure from people [as buyers], they take in full. This makes ownership of resources a social function, rather than an absolute right. One such mechanism is social values, norms and sanctions. 3, Hadeeth # 3485, P. 279. And if they spoke the truth and made clear [the defects of the goods], then they would be blessed in their bargain. “Have hearts [minds] wherewith they understand not, eyes wherewith they see not, and ears wherewith they hear not. The following are illustrations from Hadeeth to illustrate this aspect of work ethics. Indeed, the use of intellect and reason is not only accepted, but also urged. If so produce it before Us. and We sent down iron in which is (material for) mighty war, as well as many benefits for mankind, that Allah may test who it is that will help His cause and help Its messengers though unseen, for Allah is full of strength, exalted in Might (and able to enforce His will).” [Qur’an, 57:25]. Allowing the maximum possible “information” about the going prices of good to be disseminated so as to allow the seller to get the best and fairest price for his goods. 25. According to Rob Briffault, Roger Bacon was one of the apostles of Muslim science to Europe. John Hick and Edmund Meltzer(Eds. The attributes of property in the Qur’an vary depending on the related context. This depicts humanity as a large family characterized with unity in Diversity. The bounties of Allah embrace all creation. ❋   Failing to document agreements between partners—which can lead to suspicion and disputes. stands for Common Era. “Indeed those who are endowed with knowledge fear Allah” This does not rule out, however, limited government intervention when necessary for the protection of public interest and within the Islamic process of Shura [Mutual consultation]. As such, the concept of property in Islam is qualified by the condition of “trust” of the Real Owner. Dar Al-Warraq, Riyadh, 1991. This call stands in contrast to the philosophical speculations and conjecture. ❋   Choosing partners on the basis of social status and authority and not on the basis of righteousness and high morals. 20. The first and most important source is the Qur’an [commonly misspelled Koran]. Ethics of distribution may be summarized in the following: The Qur’an warns those who violate this injunction:“Woe to those who give less [than due]. ❋   Setting unjust conditions and exploiting the needs of the employees and other people—which can lead to monopoly. Behold, verily in these things are signs for those who understand!” [Qur’an,13:4], “See you not that Allah sends down rain from the sky and leads it through springs in the earth? Abdul-Baqi, Sunan Ibn Majah [in Arabic], op.cit., Vol.2, Hadeeth # 2341, P.784.Transl. Islamic ethics (أخلاق إسلامية), defined as "good character," historically took shape gradually from the 7th century and was finally established by the 11th century. Abdul-Baqi, Muhammad F. [editor], Sunan Ibn Majah, Al-Maktabah Al-‘ilmiyyah, Beirut, n.d. The answer is yes, Islam has given us the code of doing business in ethical manner. 1, Hadeeth # 425, p. 147.Tramslated by me. Translated by me. Saunders Co., Jeddah, 1983 It prescribes certain specific guidelines governing business ethics, which are dictated primarily by the notion of halal (lawful or permitted) and haram (unlawful or prohibited) as per Islamic jurisprudence (fiqh). Avoiding suspicion among Muslims and establishing justice amongst all people in transactions. Both God's law expressed in the Qur'an and Sunna and the objective circumstances in which man must strive to obey them are divinely ordained.' And you will be returned to the knower of the unseen and the witnessed, and He will inform you of what you used to do” [9:105]. In fact, unbiased and correct knowledge leads to piety. To believe that Allah alone is worthy of worship and of the unshared Divine authority. The Qur’an exhort people to “go about in the spacious sides of the earth and to eat of His provision” [67:15]. Indeed, Allah does not like transgressors.” Another issue relating to consumption, is credit financing, particularly the modern system of charge cards. The product or service must be lawful and does not involve “trespassing the limits of Allah” [Qur’an, 2:229]. It is not unlawful in Islam to “borrow” so long as no interest is involved. Restriction of unfair monopoly: It may be argued that some “monopolies” may be more efficient and beneficial to society at large, such as the case of utilities, provided that proper controls and regulations are in place to prevent abuses. The Prophet taught: “The buyer and the seller have the option [to cancel or confirm the bargain. The story of the “forbidden tree” appears in both the Bible [Genesis , Chapter 3] and in the Qur’an [ e.g. 7, Hadeeth # 3876, p.37. As is the case with any universal religion, a great cultural diversity does exist among them. Ibid, Vol. 3, Hadeeth # 652, p.33. In Islam, ethics governs all aspects of life * . ❋   Provide yourself with a continuous purification of your earnings through charity, seeking Allah’s forgiveness and repentance. 37 This improves the competitive nature of the market and thus help determine the “equilibrium” fair price. It follows that work is not only a means of survival, but also a rewardable act of worship. Implementation of Islamic business ethics are closely related and influenced by the teachings of Islam. Translated by me. n.d., Vol. Ah! It was concluded that the human is the “trustee” of Allah on earth. Moderate spending is necessary to generate jobs and contribute to economic activities and development. Zakah [charity] as a means of purification; of the giver from greed, stinginess, ungratefulness and apathy; of the receiver from envy and hate of the uncaring well-to –do persons; and of society from injustice, oppression and social instability [9:103]. He used to “seek refuge in Allah” from the burden of debt. These challenges related directly to one’s conception of the purpose of creation, which is discussed next. It is not permitted for the sun to catch up to the moon, nor can the night outstrip the day: each (just) swims along in (its own) orbit (according to law).” [Qur’an, 36:37-40]. V. QUR’ANIC INDUCEMENTS TO STUDY AND EXPLORE. This chapter dealt with business ethics from an Islamic perspective. ❋   Being shy to count cash upon giving or receiving it—thus causing conflicts. Businessethics also vary from one person to another. Islaamiyyah, Aleppo, Syria, 1994, Vol 8, Hadeeth #4990, pp.97-101. Give us salvation from the penalty of Hell fire.” [Qur’an, 3:190-191], “See you not that Allah makes clouds move gently, then joins them together, then makes them into a heap? Abdul-Baqi, Sunan Ibn Majah, op.cit., Vol. “He [Allah] Who created Death and Life, that He may try which of your is best in deeds and He is Exalted in Might, Oft-Forgiving.” [Qur’an, 67:2]. Business and ethics are not separate, rather they are interconnected. Yet, are there truly many among people who deny the meeting with their Lord (and resurrection)!” [Qur’an, 30:8], “Do they see nothing in the domain of heavens and the earth and all that Allah has created?” [Qur’an, 7:185]. Saliheen. This responsibility is a heavy responsibility, one, which requires making the right choice. Therefore, the values and ethics of Islam played an important role in entrepreneurial activities and thus creating entrepreneurs who fear Him. Translated by me. These middlemen would then offer to buy such products at a given price which was commonly less than the going market price. Yet, the main beneficiary of these bounties is the human. 35. It is noted that the above quotes deal with the fundamental resources: agricultural, water, fisheries and animal resources. The term will be used throughout this chapter. Translated by me. In fact, failure to spend to support one’s family is regarded as sin This poses a major challenge in attempting to deal with business ethics from a religious perspective. Even the highly structured rituals of pilgrimage to Makkah are tied to good moral behavior [2:197]. 41. Avoiding falling into prohibited acts and thereby eschewing sins and evil deeds. Al-Ghazali. There is another very important code of Islamic business ethics is truthfulness. Bucaille, Maurice, The Bible, The Qur’an and Science, American Trust Publication, Indianapolis, That moderation allows for some savings which, in turn, can be invested and hence contribute further to development. See for example the Qur’an; 21:107, 9:34, 48:28, 61:9, 34:28. This is grounded in the Qur’an also. ❋   Using one’s partners’ shyness to one’s advantage—and thus not giving them their dues. To fulfill that trust, the human was granted access to various bounties in the world in order to harness subject to certain condition of that “trust”. As a theological term, it means the Oneness, Uniqueness and incomparability of Allah (Allah) to any of His creatures. This is clearly expressed in the Qur’an when it commands its adherents give ”… out of the means which He has given to you” [Qur’an24:33] “and spend out of the sustenance whereof He has made you trustees.” [Qur’an, 57:7]. Now days it is very common practice that people and big companies lie for sailing their products or services. Al-Albani, Muhammad N. [complier], Silsilat Al-Ahadeeth Al-Saheehah [In Arabic], Al-Maktab Al-Islaami, Beirut, 1985, Vol.1, Hadeeth #45, P.75. Even customary and mundane activities, such as eating, sleeping and ‘innocent’ recreation, may be regarded as acts of worship if they meet the above two conditions. Properly implemented, one’s sense of responsibility before Allah avoids the attitudes of “get away with whatever you can so long as you don’t get caught”, or even the attitude of taking advantage of legal or administrative gaps or flaws to maximize one’s utility at the expense of society. Ibid, p. 152. For a momentous Day [the Day of Judgment]. Islaami, Beirut, 1985. The Qur’an makes it incumbent on its adherents to believe in, love and honor all prophets and Messengers of Allah. By educating ourselves and our community, we will begin to develop a society of Muslims who will not only be fair dealers to fellow Muslims, but will also become prime examples to all who deal with our Ummah. [Qur’an,16:69]. For more details refer to Badawi, Jamal A, Islamic Teachings, Album II, Islamic Information Foundation, Halifax, 1982, also available in the following Website (www://Islamicity.org./Radio Islam). 14. Orders will be processed speedily and… Muslims accept the Qur’an as the verbatim word of Allah, revealed to Prophet Muhammad [p] over a period of 22 years [610-632 C.E. And you have a sense of pride and beauty in them as you drive them home in the evening and as you lead them forth to pasture in the morning. ❋   Encroaching upon other people’s property or upon public property; in fact, this is a blatant form of injustice and corruption. Setting an ideal example for the Muslim businessman in the arena of life. “And in the earth are tracts (diverse though) neighboring and gardens of vines and fields sown with corn and palm trees growing out of single roots or otherwise: watered with the same water yet some of them We make more excellent than others to eat. 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