3 examples of Business Ethics which Islam has stressed

These are great, Jazakallaah khair for sharing


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Islam instructs its followers to observe certain ethics when they engage in financial transactions, including the following:


Honesty

Islam requires its adherents to be honest in their dealings with Muslims and non-Muslims alike. Indeed, honesty is one of the most important moral principles which testifies to a Muslim’s devoutness. Its importance is indicated in a number of Qur’anic verses and traditions of the Prophet , including the following:

Allah says, “Allah commands you to deliver trusts back to their owners.” (Soorat An-Nisaa’, 4:58)

The Prophet considers betraying the trust as one of the signs of hypocrisy: “The signs of the hypocrite are three: when he speaks he lies, when he promises he breaks his promise and when he is entrusted he betrays the trust.” (Saheeh Al-Bukhaaree: 33; Saheeh Muslim: 59)

Honesty is among the characteristics of the believers whom Allah calls ‘‘successful’’ because they “honour their trusts and their contracts”, among other traits. (Soorat Al-Mu’minoon, 23:8)

It is for this reason that the Prophet considers those who do not fulfil the terms and conditions of the trusts which are placed in their charge to have no faith: “The person who does not fulfil the terms of his trust has no faith.” (Sunan Ahmad: 12567)

The Prophet was known by his honorific title of As-Saadiq al-Ameen (the truthful and trustworthy) before the advent of Islam, for he was the epitome of honesty in all his dealings.


Truthfulness

Truthfulness and transparency are among the virtues that Islam has stressed

The Prophet said, “The seller and the buyer have the right to keep or return goods as long as they have not parted; and if both parties speak the truth and describe the defects and qualities of the goods, their transaction will be blessed; however, if they tell lies or hide something, their transaction will be deprived of all blessings.”(Saheeh Al-Bukhaaree: 1973; Saheeh Muslim: 1532)

He also said, “Be truthful, for truthfulness leads to righteousness, and righteousness leads to Paradise. A man keeps on telling the truth until he becomes known as a truthful person.”(Saheeh Muslim: 2607)

Some traders often have recourse to swearing falsely claiming that their merchandise is of good quality in order to persuade the buyers to purchase it. Islam considers such an act one of the major sins, as the Prophet said, “Allah will not speak to three types of people on the Day of Judgement, nor will He look at them, nor purify them and they will have a severe punishment.” Amongst these types he mentioned those who “swear falsely in order to sell their goods.”(Saheeh Muslim: 106)


Proficiency

A Muslim, no matter what his occupation may be, must carry out his duties with efficiency and to the best of his ability, making efficiency his guiding principle in all his endeavours

Allah has prescribed proficiency in all things and requires Muslims to observe it in all aspects of life, even when doing things that may, on the surface, seem unimportant, such as hunting and slaughtering. The Prophet said in this regard, “Allah has prescribed proficiency in all things. Thus, if you kill, kill well; and if you slaughter, slaughter well. Let each one of you sharpen his blade and let him spare suffering to the animal he slaughters.” (Saheeh Muslim: 1955)

Once, he attended the funeral of a man and gave instructions to his companions to level the grave and carry out the burial process efficiently. Then he turned to them and said, “Doing so will neither benefit the deceased, nor harm him; however, if a worker does any work, Allah loves to see him do it well and with efficiency.” (Al-Bayhaqee’sShu‛ab Al-Eemaan: 5315)

Another narration reads, “If any of you undertakes to do any work, Allah loves to see him do it well and with efficiency.” (Musnad Abu Ya‛laa: 4386; Al-Bayhaqee’s Shu‛ab Al-Eemaan: 4312)

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I added these to the list of Islamic business ethics ������

Promises
The attributes of the believers are that they keep their word and fulfill their promises/obligations/contracts. A promise is a commitment and breaking a promise is one of the traits of the hypocrites, as narrated by
‘Abd-Allaah ibn ‘Amr (may Allaah be pleased with him) that the Prophet (peace and blessings of Allaah be upon him) said: “There are four (characteristics), whoever has them is a hypocrite, and whoever has one of the four has a characteristic of hypocrisy unless he gives it up: when he speaks, he lies; when he makes a promise he breaks it; when he makes a pledge he betrays it; and when he disputes he resorts to foul language.” (Narrated by al-Bukhaari, 2327; Muslim, 58.)

Accountability
There are many things that get lost in our day to day grind and doing the right thing sometimes is one of them. As Muslims we are required to behave islamically in all our business transactions because Allah is a witness in all our affairs.
Neither you do any deed nor recite any portion of the Qur’an, nor you do any deed, but We are Witness thereof when you are doing it (Al Quran 10:6). Meaning, `We are watching and hearing you when you engage in that thing.’ When Jibril asked the Prophet about Ihsan, he said: It is that you worship Allah as if you are seeing Him. But since you do not see Him, be certain that He is watching you. (Tafsir ibn kathir)

Morale
Everyone has a rights upon us as Muslims, our parents, children, neighbors, and of course employees. One of those rights is that they are treated well and compensated for their work.
Abdullah ibn Umar (Radhi-Allahu ‘anhu) narrated:
That Allah’s Messenger (salAllahu alayhi wa sallam) said: “Give the worker his wages before his sweat dries.” (Tirmidhi Hadith: 2987 and Ibn Majah)
Anas Ibn Malik (may Allah be pleased with him) said: I served the Messenger of Allah (may Allah’s blessings and peace be upon him) for ten years and he never said to me “uff!” or “why did you do such and such?” or “why did you not do such and such?” (Bukhari and Muslim)
It should also be mentioned that the Prophet (salAllahu alayhi wa sallam) used to be considerate and give slaves their rights, as narrated by
Abu Huraira (may Allah be pleased with him) reported Allah’s Messenger (may Allah’s blessings and peace be upon him) said:, “A slave is entitled to his food and clothing, and he should have imposed on him only such work as he is capable of doing.” (Muslim)

Fairness and Justice
A moral characteristic is that one is fair and just. It is not permissible to knowingly sell or purchase stolen goods, The one who knowingly purchases a stolen good, is a partner to the act of sin and the shame.(Kanz Al-‘Ammal, No: 9258)
It is not permissible to cheat and take full measure and give short measures.
Allah says in the Qur’an: “Give full measure when you measure out and weigh with a fair balance. This is fair and better in the end.” (Al Qur’an 17:35)
Allah also says in Surah Mutaffefeen verses 1-4:
1. Woe to those that deal in fraud
2. Those who, when they have to receive by measure from men, exact full measure.
3. But when they have to give by measure or weight to men, give less than due.
4. Do they not think that they will be called to account?
Islamic ethical and moral codes of conduct is part of our faith, it protects us as buyers and gives us guidelines sellers. They are good (khair) for us in this world and the hereafter which is something that can’t be said for the secular business communities.

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