This ethic of spending has economic implications. The Holy Qur’an, translated by Abdullah Y. Ali, Khalil Al-Rawaf, Washington, D.C., 1946., Also The Qur’an, Saheeh International, Jeddah, 1997. For a momentous Day [the Day of Judgment]. These values have two major roots: (1) belief in and devotion to Allah (God), and (2) the earthly trusteeship … In a sweeping statement, the Qur’an indicates that everything on earth, and even in the heavens was created for the benefit of mankind: “It is He who has created for you all things that are on earth; moreover His design comprehended the heavens for He gave order and perfection to the seven firmaments; and of all things he has perfected knowledge.” [Qur’an, 2:29], “And He has subjected to you as from Him all that is in the heavens and on earth: behold in that are signs indeed for those who reflect.” [Qur’an, 45:13]. Not for naught have you created (all) this! The sense of fairness in the social contract are greatly enhanced both by the infinite time scale and by the keen sense of Taqwa (being Allah-conscious) realizing that nothing can be hidden from Allah, who will hold each person responsible for his/her deeds. As such, individual and collective decision-making is guided by a time scale, which is not limited by one’s life span, the life of one or more generations, or even the life of all generations. Enabling the implementation of Allah’s Law with a view to saving humanity from misery and suffering. 9. This depicts humanity as a large family characterized with unity in Diversity. Following is an example: “Anyone who cheat us is not of us” 35, “Whoever monopolizes foodstuff for forty days, he has dissociated himself from Allah and Allah has dissociated Himself from him”40, The Prophet forbade also the practice where a town dweller withhold and store foodstuff that belongs to an desert dweller, wait until the price goes up [possibly due to this artificial shortage], then he sells that foodstuff [and thus get a higher commission] for his services.41. The Day when mankind will stand before the Lord of the worlds?” Order”, in Humanomics, vol. This mechanism is founded on the person’s realization that Allah knows the manifest and the hidden and will hold all accountable for their deeds. nor forget thy portion in this world; but do thou good as Allah has been good to thee and seek not (occasions for) mischief in the land: for Allah loves not those who do mischief.” Qur’an 28:77. This chapter dealt with business ethics from an Islamic perspective. n.d. The Qur’an made it clear that all things on earth are made subservient to human use (not abuse). “And among His Signs is the creation of the heavens and the earth, and the variations in 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. As such, the concept of property in Islam is qualified by the condition of “trust” of the Real Owner. Unity between all aspects of human livings (7) on earth as they all come under the jurisdiction of Allah. The term is strikingly similar to the Aramaic “Alaha”, which also refers to God. Aleppo, Syria, 1994. And He sends down from the sky mountain masses (of clouds) wherein is hail: He strikes therewith whom He pleases and He turns it away from whom He pleases. Then He causes to grow therewith produce of various colors: then it withers; you will see it grow yellow; then He makes it dry up and crumble away. Due to the current dynamic business environment, Muslims find themw selves confronted with serious dilemmas and need guidance from a clearly developed Islamic business ethics. 7. As the human is the trustee of Allah on earth, it follows that his/her actions in the social order must be in accordance with the conditions of that trust. Saunders Co., Jeddah, 1983 24. These applications are examined in the framework that is familiar to most readers, especially those with background in economics and business; production, consumption and distribution.21. Muhammad, Khuluq Al-Muslim [In Arabic], Dar Al-Bayaan, Kuwait, 1970, p.51.Translated by me. Some general guidelines govern the Islamic code of ethics with relation to both one’s daily life and business conduct. John Hick and Edmund Meltzer(Eds. “0 you who believe! He used to “seek refuge in Allah” from the burden of debt. The term will be used throughout this chapter. The Qur’an exhort people to “go about in the spacious sides of the earth and to eat of His provision” [67:15]. Ah! into nations and tribes, that you may know each other (not that you may despise each other). Translated by me. And (He has created) horses, mules and donkeys for you to ride and use for show; and He has created (other) things about which you have no knowledge.” [Qur’an,16:5-8]. Tawheed is an Arabic term, which has often been translated into English as “monotheism”; the belief in One God, as opposed to dualism, Polytheism or Atheism. Or, taking away their rights unlawfully—which is strictly forbidden. “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. The very first word of the Qur’an revealed to Prophet Muhammad (P) was iqra’ , literally read: “Proclaim! Hourani, G.: Reason and Tradition in Islamic Ethics (Cambridge: Cambridge University Press, 1985). 8. As the human is created to be the trustee of Allah on earth, it follows that the resources made available to him/her in the universe are to be regarded as tools to fulfil the responsibilities of this trusteeship. 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. Urges and instincts, in themselves, act as mechanisms through which the physical survival and perpetuation of the human race are ascertained. We must become responsible for our own transactions, large and small, and prepare to incur the consequences of the decisions we make in this life and in the Hereafter—understanding that all what we do will not go hidden and forgotten in the end. Nonetheless, reason is neither irrelevant to the strengthening of one’s faith, nor is it the antithesis of faith. ❋   Delaying giving any person their due despite one’s financial ability to do so, usually using a person’s goodwill to one’s advantage. 3, Hadeeth # 350, pp.197-198. 18. 36. Life is seen as an integrated and interrelated whole. IX. This is based on the instruction of the Prophet : 1. Translated by me. 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. Translated by me. This results in greater sensitivity to the needs of the future generations. Moore, Keith, The Developing Embryo: Clinically Oriented Embryology The Developing Charity may be announced without boasting only of the purpose is to encourage others to donate. ❋   Being shy to count cash upon giving or receiving it—thus causing conflicts. Failure to observe the divinely-defined lawfulness means “following the steps of Satan”. It also establishes the unique position of the human as the crown of creation. More specifically related to human pursuits on earth, whether in economic or other spheres is the concept of the human; its nature and purpose of existence. Commonly, however, credit cards are used as a form of “borrowing” with interest added to the principal. 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. It is the same spirit that the Prophet also taught that if one plants a tree of which a human, and animal or bird eats, he/she will get a reward for all who benefit from it23. 8, Hadeeth # 26, P.41. Khadduri, Majid: The Islamic Conception of Justice … Islam prohibits people to hide the real facts and truth in dealing with people or in business. Islamic ethics (أخلاق إسلامية), defined as "good character," historically took shape gradually from the 7th century and was finally established by the 11th century. Exception to that are made for necessity, where fairness is ascertained. You have entered an incorrect email address! One such mechanism is social values, norms and sanctions. Understanding and observing the Islamic principles in transactions has a host of benefits which include the following: ❋   Engaging in unlawful transactions in search of big profits and blindly following non-Muslims in this respect. 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 … “Have hearts [minds] wherewith they understand not, eyes wherewith they see not, and ears wherewith they hear not. This harnessing, in turn requires the acquisition of knowledge and the understanding of Alllah’s creation and bounties, a matter which is regarded as highly commendable by the Qur’an. For an excellent and detailed treatment of this topic, see Al-Qaradawi, Yusuf, Dawr Al-Qiyam Wal-Akhlaaq Fi Al-Iqtisaad Al-Islaami [in Arabic], Maktabat Wahbah, 1995. It is presented, rather, as a friend and means of human endeavors on earth. This signifies that it is Allah-determined lawfulness that defines what is “good” or wholesome. Tawheed also means belief in the absolute perfection of Divine Attributes, one of which is perfect knowledge, even of the most secret thoughts of the heart. Indeed, the use of intellect and reason is not only accepted, but also urged. There is another very important code of Islamic business ethics is truthfulness. ❋   Reliance on independent or weak legal verdicts that contradict the opinion of the majority of Muslim scholars in order to gain worldly profits. In fact, the term “religion” is an imperfect translation of the Arabic term “deen” which means literally a way of living. Written by: Dr. Zulfiqar Ali Shah Mass Janazahs and burials ... Muslims all over the globe hold two opinions about when to o ... From the practically universal perspective of the nearly 1.6 ... Love is one of the most central attributes of God. Worship of Allah is not mere formalism. Unity between the present life and the life to come8 , both come under the same Divine jurisdiction. https://www.aljumuah.com/the-islamic-code-of-business-ethics Hadeeth is clear; do not leave productive assets idle. Abu-Ghoddah, Abdul-Fattah [editor], Sunan Al-Nasaa’i, Maktab Al-Matboo’aat Al- Islaamiyyah, Translated by me. This may be illustrated by the instructions of Prophet Muhammad (P) that if the Day of Judgment begins while one is planting a tree, he should complete his task first. A few examples may illustrate this. An example of this was the prophet’s critical reaction to a companion who was using an excessive amount of water to make his ablution for prayers. Translated by me. 11. 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. 32. Even on Fridays, when a mid-day mandatory congregational prayer is performed, the Muslim may “disperse in the land and seek of the bounties of Allah” [62:10]. Say: Have you any (certain) knowledge? “0 mankind! Conceptually, this should shape one’s attitudes towards other humans Muslims and “non-Muslims” alike.6. Generally speaking, the Qur’an considers it a sin not to use senses and reason as legitimate means of searching for truth and admonishes those who make claims that are not based on knowledge, and those who blindly imitate their ancestors. The first and most important source is the Qur’an [commonly misspelled Koran]. 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]. This chain, according to the Qur’an was completed and culminated with the advent of the last messenger Muhammad (P). Islamic Business Ethics ‘THE ISLAMIC ETHIC is expressed in terms on the immanent presence of God in the earthly affairs of man. 38. The Qur’an also praises those who combine faith with knowledge: “…Allah will raise up to (suitable) ranks (and degrees) those of you who believe and who have been granted knowledge: and Allah is well-acquainted with all you do.” [Qur’an, 58:11], A distinction and preference is given to those who are endowed with Rites and devotional acts do have their place. “Indeed those who are endowed with knowledge fear Allah” Allah is the only Creator, Sustainer and Cherisher of the Universe. As most readers may not be fully familiar with Islam, a brief introduction about it may be helpful. 14. It is noted that the above passage places lawfulness ahead of goodness. Seeking Allah’s pleasure, guidance and mercy and avoiding contradicting His Laws. business growth, which also are commended by the Islamic imperative. (hand) spent…” (Narrated by Bukhari and Muslim) as quoted in A. AI-Nawawi, Riyadh Al- The human is also endowed with intellect and the power of reasoning. 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). 28. ❋   Consult competent authorities whenever a new question is raised for the first time and which requires an Islamic ruling or guidance. Abdul-Hameed, Muhammad M., Sunan Abi-Dawood [in Arabic], Al-Maktabah Al-Asriyyah, Beirut, 30. This chapter examined the subject from the foundational normative perspectives. In situation s where some harm is inevitable, a careful weighting of relative harms and benefits should be made. The human endeavor is limited to understanding and implementing them in a manner that is suited to the needs of time, place and circumstances. 25. 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]. This issue is examined next. In large companies, corporate lawyers define the business ethicsof a company with specific interest in staying within the bounds of the law. The human may even descend to a position, which is less than that of animals. As such, ethics is not one of its “compartments”, but something at its very core. Glory to thee! Translated by me. ❋   Setting unjust conditions and exploiting the needs of the employees and other people—which can lead to monopoly. Prophet Muhammad [p] spoke of the punishment of anyone who kills a sparrow without a legitimate reason[e.g. Meaning of business ethics. I, Barmarick Publications, N.Humberside, 31. And the moon We have measured for it mansions (to traverse) till it returns like the old (and withered) lower part of date-stalk. It is above all a highly rewardable act of worship and an application of Tawheed as it relates to property. 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. 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.” At the same time, it is also the Sunnah of the Prophet and Messenger. That role, in turn, is called “worship” in the Qur’an [51:56]. Quoted in Al-Ghazali. Abdul-Baqi, Sunan Ibn Majah, op.cit., Vol. Similarly, the extent of religious commitment and practice varies considerably between individuals and cultures. [Qur’an, 35:28]. “…and eat and drink, but be not excessive. [Qur’an, 83: 1-6], The Prophet addressed the problem of cheating in more than one Hadeeth. If this is the case, then it is essential to be clear about the sources of such normative practices, sources which will be frequently referred to in this chapter. The Qur’an affirms also the entitlement of reward that is commensurate with effort [7:170; 3:136; 99:7 and 46:19]. The term “Islam” is derived from the Arabic root [SLM] which means peace, submission, and acceptance. This is intended to achieve a fairer distribution of wealth, and to promote an attitude of material security, sympathy and love in society. “and say, do [as you will], for Allah will see your deeds, and [so will] His Messenger and the believers. Al-Albani, op.cit, Vol 1, Hadeeth #9, P.11. 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? The Prophet was once asked by his companions “Why don’t you set prices [of goods] for us?. the earthly life with no assets that he/she saved. And He gave you [the faculties of] hearing, sight and understanding [and feelings]. Khan, op.cit., Vol. 17. They are like cattle, nay more misguided; for they are heedless (of warning).” [Qur’an, 7:179], The attitude toward learning is reiterated in numerous sayings of Prophet Muhammad (P) 12, “Seeking knowledge is a mandatory duty on every Muslim.”, “Whoever pursues a way in search for knowledge, Allah will make an easy way for him/her to paradise.” Little thanks do you give. Following are a few examples from the Qur’an which clearly stimulate research, discovery, development and improvement of the quality of life. [Qur’an, 2:168]. 21. It includes individual and collective pursuits; moral, social and economic and political. 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