aminahz

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.

I take this from Ent/Etr300-Fundamentals Of Islamic Economy as my guidance being an Entrepreneur 😀

8 Principles of Islamic Entrepreneurship :

1. Entrepreneurship is an integral parts of Islamic religion.
2. By virtue of human nature ,  the Moslem entrepreneurs are  ‘khalifah’ and have the responsibilities develop prosperity and sees business as part of ibadah or good deed.
3. Motivation – success in Islam is not merely measured by the end result but also the way and means of achieving them.
4. Ibadah – business activity is part of ibadah or “good deed”
5. Position of  Entrepreneurship and business in Islam – Islam encouraged its ummah to venture into business . Prophet Muhammad S.A.W expounded that 9 out 10 source of rizque (income) can be found in business.
6. Islamic Economic System –  Islamic Entrepreneurship should operate within the domain of Islamic Economic system and act as the vehicle towards global acceptance of Islamic Economic System.
7. Guiding Principles of Islamic Entrepreneurship is by the al-Quran and al-Hadith
8. Entrepreneurial Ethics based on exemplary conducts of Prophet Muhammad S.A.W