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... Prophet Mohammed (The Hadith). In the era of globalization, various offenses in business ethics committed by Muslim traders or The same is true for each of other scripture based faiths. 2. 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, We have already seen the ahadith that emphasize on truthfulness alongside trustworthiness. leisure. Some general guidelines govern the Islamic code of ethics with relation to both one’s daily life and business conduct. "The impetus is on you as a business activity in which there is nine-tenths of their livelihood." They are not cutthroat competition or taking advantage of others. July 9, 2019 July 9, ... the ethical system in Islam takes guidelines from the divine source of teachings “The Noble Quran” and Hadith of Prophet Muhammad (SAW). mentioned earlier. Business Etiquette and Ethics in Islam TAKING TRADE as a means of earning livelihood is encouraged in Islam. A Muslim realizes that every business transaction is a question of morals and ethics. By Dr. Rafik Issa Beekun. The ethical values set by Islam cannot be altered according to the will of human beings and the situation they are in. The Holy Prophet(peace be upon him) said: Take to trade, because there are nine portions in trade out of ten portions of provisions. Values and Ethics in Islam. Keywords: Work, Ethics, Islam, Hadith, Prophet, Introduction Ethical Guidelines for Muslims in Business. Through this, it came to the conclusion that the concept of work ethics is part and parcel of the Islamic tradition when properly analyzed, especially through the Hadtith traditions, and it can serve its purpose in the work place as is the case in the Judeo-Christian traditions. In the context of business ethics, great emphasis has been put on truthfulness in speech and honesty in measuring. Among the Prophet's hadith other means. Hadith of the Prophet Muhammad (saws) in English and Arabic The Chapters on Business Transactions - Sunan Ibn Majah - Sunnah.com - Sayings and Teachings of Prophet Muhammad (صلى الله عليه و سلم) Instead, they are based on a very strong ethical basis. learning business ethics. He also did business in the markets; Majannah and ‘Ukaaz were markets during the Jaahiliyyah to which merchants would come to buy and sell. THE term ‘business ethics’ refers to the behaviour that a business organisation is supposed to adhere to in its interaction with society, transactions with customers and in its internal affairs. Muslims are required to behave Islamically in their business dealings because Allah Himself is witness to their transactions: In Christianity, the basis is The Old Testament and The New Testament. This study focuses mainly on widely accepted principles and norms relating to business ethics as stipulated in the two primary sources of Islam. A highly pertinent question is the role of faith and religious beliefs on ethical business practices in a community. Business dealings in Islam are not simply a matter of getting ahead in this world. That is why al-Ghazali said stress on a clear understanding of the rules and laws governing business transactions as a necessary prerequisite to adopting trade or business as a profession. (Narrated by At-Tirmizi). 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