Businessethics
Business/Trade Ethics in the Modern World
An Islamic Perspective
Outline
1. Importance of the topic
2. General comments about Islamic ethics 3. Some contemporary ethical issues in trade 4. Islamic Ethics in Modern Issues
5. Case Studies
6. Advertisement in light of Islamic ethics 7. Ethical decision making
Why the ethics of business/trade? “There are three types of people to whom Allah will not speak to and nor will he bless them and for them is a severe torment… (iii) the one who makes Allah as his merchandise: He does not purchase except by swearing (by Allah) and he does not sell except by swearing (by Allah).”
[Narrated by At-Tabarāni]
The Essence of Islamic Ethics difficult questions that face us which are philosophical — they are ethical.
… some of the most
We need real ethicists — we need people that are trained in ethical philosophy, not just a kind of modern book on ethics.
I mean if you read classical ethical treatises, they are philosophical treatises that teach people how to reason ethically — not simply having a hadith that tells you some ethical truism, but to reason
ethically, because if we had people reasoning ethically, we would never have come up with fatwas that supported suicide bombing, ever.
[Hamza Yusuf]
What are Islamic Ethics?
No distinct equivalent in Islamic sciences
It is ijtihad from د-ه- جja-ha-da – The struggle of an individual, in particular to exercise independent reasoning to arrive at a solution or conclusion.
Islamic Ethics and the Law
(Shari’a)
Worship – ‘ibadat (left alone)
Everything else – (these are all for human benefit and many aspects can be adjusted)
Preservation of the 5 higher objectives:
Religion
Life
property
Intellect
Family
Objectives of Islamic Ethics of
Business
Protect the individual from harm
Protect society from harm
Freedom from lies
Freedom from being cheated on
Freedom from deceit
KEY: Greatest good for the individual and society
“harm may neither be
An Islamic Perspective
Outline
1. Importance of the topic
2. General comments about Islamic ethics 3. Some contemporary ethical issues in trade 4. Islamic Ethics in Modern Issues
5. Case Studies
6. Advertisement in light of Islamic ethics 7. Ethical decision making
Why the ethics of business/trade? “There are three types of people to whom Allah will not speak to and nor will he bless them and for them is a severe torment… (iii) the one who makes Allah as his merchandise: He does not purchase except by swearing (by Allah) and he does not sell except by swearing (by Allah).”
[Narrated by At-Tabarāni]
The Essence of Islamic Ethics difficult questions that face us which are philosophical — they are ethical.
… some of the most
We need real ethicists — we need people that are trained in ethical philosophy, not just a kind of modern book on ethics.
I mean if you read classical ethical treatises, they are philosophical treatises that teach people how to reason ethically — not simply having a hadith that tells you some ethical truism, but to reason
ethically, because if we had people reasoning ethically, we would never have come up with fatwas that supported suicide bombing, ever.
[Hamza Yusuf]
What are Islamic Ethics?
No distinct equivalent in Islamic sciences
It is ijtihad from د-ه- جja-ha-da – The struggle of an individual, in particular to exercise independent reasoning to arrive at a solution or conclusion.
Islamic Ethics and the Law
(Shari’a)
Worship – ‘ibadat (left alone)
Everything else – (these are all for human benefit and many aspects can be adjusted)
Preservation of the 5 higher objectives:
Religion
Life
property
Intellect
Family
Objectives of Islamic Ethics of
Business
Protect the individual from harm
Protect society from harm
Freedom from lies
Freedom from being cheated on
Freedom from deceit
KEY: Greatest good for the individual and society
“harm may neither be