Business Ethics in Islam

The present work attempts to answer the question: what characterises a Muslim’s behaviour in business life? The author answers by saying that the Qur’an lays down a set of principles to provide guidance for the conduct of a Muslim businessman. This guidance consists not merely of 'laws’, but also of ethical norms. Thus a Muslim is urged not only to give others their due; rather to give even more than what one legally owes them so as to fulfil the requirements of benevolence and magnanimity. Likewise, he is expected not only to shun all that is prohibited, but also to abstain from actions about which his conscience does not feel fully at rest. The author emphatically argues that the Islamic world-view, with its emphasis on the Hereafter, fosters an outlook which significantly differs from that prevalent in the present times. Moreover, it is God’s will as revealed of God’s Prophets rather than the frail reason of human beings to which one ought to primarily turn for guidance. In sum, the business ethics of Islam has a distinct entity both in terms of its underlying spirit and its content.