(Narrated by At-Tirmizi). Ethical Guidelines for Muslims in Business. 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. Values and Ethics in Islam. Muslims are required to behave Islamically in their business dealings because Allah Himself is witness to their transactions: The ethical values set by Islam cannot be altered according to the will of human beings and the situation they are in. 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. 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) The Holy Prophet(peace be upon him) said: Take to trade, because there are nine portions in trade out of ten portions of provisions. Keywords: Work, Ethics, Islam, Hadith, Prophet, Introduction He also did business in the markets; Majannah and ‘Ukaaz were markets during the Jaahiliyyah to which merchants would come to buy and sell. A Muslim realizes that every business transaction is a question of morals and ethics. ... Prophet Mohammed (The Hadith). In the context of business ethics, great emphasis has been put on truthfulness in speech and honesty in measuring. In the era of globalization, various offenses in business ethics committed by Muslim traders or By Dr. Rafik Issa Beekun. Instead, they are based on a very strong ethical basis. The same is true for each of other scripture based faiths. Some general guidelines govern the Islamic code of ethics with relation to both one’s daily life and business conduct. Business Etiquette and Ethics in Islam TAKING TRADE as a means of earning livelihood is encouraged in Islam. "The impetus is on you as a business activity in which there is nine-tenths of their livelihood." 2. Among the Prophet's hadith other means. This study focuses mainly on widely accepted principles and norms relating to business ethics as stipulated in the two primary sources of Islam. Business dealings in Islam are not simply a matter of getting ahead in this world. In Christianity, the basis is The Old Testament and The New Testament. We have already seen the ahadith that emphasize on truthfulness alongside trustworthiness. 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. They are not cutthroat competition or taking advantage of others. A highly pertinent question is the role of faith and religious beliefs on ethical business practices in a community. 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, learning business ethics. leisure. 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