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    Business Ethics in Islam

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    Assalamualaikum,

    I am thinking to start a small business insha Allah. I need to know the rulings of doing business in Islam. Please provide me some Quran ayahs and hadith about business ethics.

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    Re: Business Ethics in Islam

    One hadith states that Allah is with a person (in business matters) as long as the person deals honestly with his business associates / partners. But as soon as he does any dishonest act, Allah leaves them and Satan enters.

    I will quote it (in Arabic) as soon as I locate it in my Islamic economics books.

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    Re: Business Ethics in Islam

    Can you please recommend me any good books or lectures on business in islam and islamic finance?

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    Re: Business Ethics in Islam



    An Islamic Approach To Business Ethic

    http://www.renaissance.com.pk/Mayviewpoint2y5.htm
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    Re: Business Ethics in Islam

    Walaikum Assalam wr wb.

    Business in Islam Should be according to following Islamic general principles,
    1) Subject matter should be Halal
    2) Contractual parties should be of sound mind and agreed upon terms.
    3) Subject matte should exist and present or in sellers occupation
    4) There should be no interest involved
    5) No one should decive the other or harm other party
    6) Ahkaam of the relevent kind of sales should be met.
    | Likes ILuvAllah, shafibhai liked this post

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    akiani's Avatar
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    Re: Business Ethics in Islam

    What language you need to have these books Arabic or English or Urdu?
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    Re: Business Ethics in Islam

    Quote Originally Posted by akiani View Post
    What language you need to have these books Arabic or English or Urdu?
    English.

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    ILuvAllah's Avatar
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    Re: Business Ethics in Islam

    This would be a sole sole proprietorship business insha Allah. Do I need to do istikhara before starting the business?
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    Re: Business Ethics in Islam

    Quote Originally Posted by akiani View Post
    Business in Islam Should be according to following Islamic general principles,
    1) Subject matter should be Halal
    2) Contractual parties should be of sound mind and agreed upon terms.
    3) Subject matte should exist and present or in sellers occupation
    4) There should be no interest involved
    5) No one should decive the other or harm other party
    6) Ahkaam of the relevent kind of sales should be met.
    In addition,

    Do not overcharge
    Be charitable and pay zakat
    Do not waste (or show off)
    Do not hoard essential items

    Peace and wishing you all the success
    | Likes ILuvAllah, shafibhai liked this post

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    Re: Business Ethics in Islam

    Business Ethic of Rasulullah

    By: Ahmad Juwaini
    Executive Director of Dompet Dhuafa Republika


    To make the business activities we do can work in harmony and produce the good in life , then we must make the business we do stained with ethical values ​​.

    One source of referral business ethics are ethics that comes from the supreme example of human figures in the world , namely the Prophet Muhammad . He has had a lot of ethics to guide our business practices , namely :
    *
    First of all, honesty . Honesty is a fundamental requirement in the business activities . Rasulullah very intense advocate honesty in business activity . In this level , he said: " It is wrong for Muslims to sell the merchandise that has the ignominy , unless he explains its ignominy, " ( Reported by al - Quzwani ) . " Who is deceiving us , then he's not our group , " (Muslim ) .

    Prophet himself always being honest in business . He forbade the merchants put bad stuff on the bottom and new stuff at the top .

    Second , help or benefit others , awareness of the social significance of business activity . Businesses operating in Islam , not just the pursuit of profit as much as possible , as taught father capitalist economy , Adam Smith , but also oriented to ta'awun attitude ( helping others ) as the social implications of business activities . Strictly speaking , doing business , not looking for material profit alone , but based on awareness provides an easy way for others to sell goods .

    Third , do not be deceptive , measure , measurements and weights are correct . In trade , the correct and appropriate scales should really take precedence . The Word of Allah : ""Woe to those who give less [than due],Who, when they take a measure from people, take in full.But if they give by measure or by weight to them, they cause loss". (Qur'an 83 : 1-2-3 ) .

    Fourth , should not vilify other people's business , so the consumers buy only from him . Prophet Muhammad said , " Do not let anyone amongst you sell with intent to disfigure what is being sold by others , " ( HR muttafaq ' alaih ) .

    Fifth , do not hoard goods . Ihtikar are hoarding goods ( stacking and storing goods in a certain period , with the goal of keeping costs at a time Loca ride and great advantage is derived) . Prophet forbade such conduct business .

    Sixth , it is not a monopoly . One of the ugliness of the capitalist economic system is legitimized monopoly and oligopoly . A simple example is the exploitation ( mastery ) certain individuals on social property , such as water , air and soil and the content of its contents like minerals and mineral .

    These individuals profited personally , without giving a chance to others . It is forbidden in Islam .

    Seventh , business commodity goods sold is pure and halal , not haram goods , such as pigs , dogs , booze , ecstasy , etc. . Prophet Muhammad said, "Verily Allah has prohibited liquor business , carcass , swine and sculptures , " (Narrated Jabir ) .

    Eighth , conducted business net of elements of usury . Word of God , " O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers., " ( Surah al - Baqarah :: 278 ) . Those who involved in usury assessed by Allah as being possessed of satan (Qur'an 2 : 275 ) . Therefore Allah and his Apostle declares war on usury .

    Ninth , the business is done voluntarily , without coercion . Word of Allah , "O you who have believed, do not consume one another's wealth unjustly but only [in lawful] business by mutual consent., " (Qur'an 4 : 29 ) .

    Tenth , to pay employee wages before his sweat dries . Prophet Muhammad said , "Give the employee wages , before his sweat dries . " This hadith indicates that the payment of wages should not be delayed . Payment of wages shall be in accordance with the work done .

    http://www.muslimdaily.net/berita/ek...h#.UlQbONJ-0_E

  14. #11
    ILuvAllah's Avatar
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    Re: Business Ethics in Islam

    Quote Originally Posted by ardianto View Post
    Business Ethic of Rasulullah

    By: Ahmad Juwaini
    Executive Director of Dompet Dhuafa Republika


    To make the business activities we do can work in harmony and produce the good in life , then we must make the business we do stained with ethical values ​​.

    One source of referral business ethics are ethics that comes from the supreme example of human figures in the world , namely the Prophet Muhammad . He has had a lot of ethics to guide our business practices , namely :
    *
    First of all, honesty . Honesty is a fundamental requirement in the business activities . Rasulullah very intense advocate honesty in business activity . In this level , he said: " It is wrong for Muslims to sell the merchandise that has the ignominy , unless he explains its ignominy, " ( Reported by al - Quzwani ) . " Who is deceiving us , then he's not our group , " (Muslim ) .

    Prophet himself always being honest in business . He forbade the merchants put bad stuff on the bottom and new stuff at the top .

    Second , help or benefit others , awareness of the social significance of business activity . Businesses operating in Islam , not just the pursuit of profit as much as possible , as taught father capitalist economy , Adam Smith , but also oriented to ta'awun attitude ( helping others ) as the social implications of business activities . Strictly speaking , doing business , not looking for material profit alone , but based on awareness provides an easy way for others to sell goods .

    Third , do not be deceptive , measure , measurements and weights are correct . In trade , the correct and appropriate scales should really take precedence . The Word of Allah : ""Woe to those who give less [than due],Who, when they take a measure from people, take in full.But if they give by measure or by weight to them, they cause loss". (Qur'an 83 : 1-2-3 ) .

    Fourth , should not vilify other people's business , so the consumers buy only from him . Prophet Muhammad said , " Do not let anyone amongst you sell with intent to disfigure what is being sold by others , " ( HR muttafaq ' alaih ) .

    Fifth , do not hoard goods . Ihtikar are hoarding goods ( stacking and storing goods in a certain period , with the goal of keeping costs at a time Loca ride and great advantage is derived) . Prophet forbade such conduct business .

    Sixth , it is not a monopoly . One of the ugliness of the capitalist economic system is legitimized monopoly and oligopoly . A simple example is the exploitation ( mastery ) certain individuals on social property , such as water , air and soil and the content of its contents like minerals and mineral .

    These individuals profited personally , without giving a chance to others . It is forbidden in Islam .

    Seventh , business commodity goods sold is pure and halal , not haram goods , such as pigs , dogs , booze , ecstasy , etc. . Prophet Muhammad said, "Verily Allah has prohibited liquor business , carcass , swine and sculptures , " (Narrated Jabir ) .

    Eighth , conducted business net of elements of usury . Word of God , " O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers., " ( Surah al - Baqarah :: 278 ) . Those who involved in usury assessed by Allah as being possessed of satan (Qur'an 2 : 275 ) . Therefore Allah and his Apostle declares war on usury .

    Ninth , the business is done voluntarily , without coercion . Word of Allah , "O you who have believed, do not consume one another's wealth unjustly but only [in lawful] business by mutual consent., " (Qur'an 4 : 29 ) .

    Tenth , to pay employee wages before his sweat dries . Prophet Muhammad said , "Give the employee wages , before his sweat dries . " This hadith indicates that the payment of wages should not be delayed . Payment of wages shall be in accordance with the work done .

    http://www.muslimdaily.net/berita/ek...h#.UlQbONJ-0_E
    thanks brother that was very helpful. i was actually thinking to open a boutique to sell modest clothing, hijabs, some accessories and jewelries for women insha Allah.

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    akiani's Avatar
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    Re: Business Ethics in Islam

    Quote Originally Posted by ILuvAllah View Post
    thanks brother that was very helpful. i was actually thinking to open a boutique to sell modest clothing, hijabs, some accessories and jewelries for women insha Allah.
    May Allah give Barakha in your Business. Just check whether your business needs some legal requirements as well or not.
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    Re: Business Ethics in Islam

    Quote Originally Posted by akiani View Post
    May Allah give Barakha in your Business. Just check whether your business needs some legal requirements as well or not.
    Yes sure will do so and will do istikhara as well insha Allah. I want to do this business strictly following islamic set rules for business and rejecting all secular ideas insha Allah. May Allah make this easy for me. Ameen.
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    Re: Business Ethics in Islam

    Quote Originally Posted by ILuvAllah View Post
    Yes sure will do so and will do istikhara as well insha Allah. I want to do this business strictly following islamic set rules for business and rejecting all secular ideas insha Allah. May Allah make this easy for me. Ameen.
    Assalamualikum,

    Which country you want to run your business?

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    ILuvAllah's Avatar
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    Re: Business Ethics in Islam

    Quote Originally Posted by akiani View Post
    Assalamualikum,

    Which country you want to run your business?
    WalaikumSalam,

    In my country Bangladesh insha Allah.


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