Muslim Entrepreneurship Ethics

October 15th, 2010

These are some ethics mention in Ent/Etr300 – Fundamental of Islamic entrepreneurship :

  • To prevent laziness
  • To eradicate fear
  • To search for legitimate ventures
  • To avoid forbidden sources of income and property
  • To show gratitude and thankfulness of whatever has been acquired
  • To grow and develop capital and profit
  • To diversify business ventures
  • To avoid greediness
  • To avoid malicious behavior
  • To avoid squandering
  • To avoid stinginess
  • To pay alms (zakat)
  • Trustworthy
  • To pray consistently
  • Tawakkal
  • Patience
  • Qana’ah

Principle of Business for Moslem :

  • Love God and His commands more than your trade
  • Be honest & truthful
  • Keep one’s word
  • Be humble in how you conduct your life
  • Do not deal in fraud
  • Do not bribe
  • Deal justly

Example from Prophet Rasulullah S.A.W :

  • Business is secondary when being called  for other form of crusade
  • Avoid using influence for self interest
  • Afraid of  accumulated wealth
  • Leadership qualities in all aspects
  • Practice moderate way of life

In Islamic Business, profit-making must always be balanced with the need to provide the consumers with efficient, reliable and courteous services, besides beneficial, good quality and reasonably priced goods.

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