2:275 (Y. Ali) …but Allah hath permitted trade
4:29 (Y. Ali) O ye who believe! Eat not up your property among yourselves in vanities: But let there be amongst you Traffic and trade by mutual good-will: Nor kill (or destroy) yourselves: for verily Allah hath been to you Most Merciful
10:61 (Y. Ali) In whatever business thou mayest be, and whatever portion thou mayest be reciting from the Qur’an,- and whatever deed ye (mankind) may be doing,- We are witnesses thereof when ye are deeply engrossed therein. Nor is hidden from thy Lord (so much as) the weight of an atom on the earth or in heaven. And not the least and not the greatest of these things but are recorded in a clear record.
Jabir(r.a.) related that the Prophet(sallallahu alaiyhi wasallam) said: May Allah show mercy to a man who is kind when he sells, when he buys, and when he makes a claim. (Bukhari)
It is reported by Jabir(r.a.) that the Prophet(sallallahu alaiyhi wasallam) said: The flesh and body that is raised on unlawful sustenance shall not enter Paradise. Hell is more deserving to the flesh that grows on one’s body out of unlawful sustenance. (Ahmad)
The Prophet (peace and blessings be upon him) is reported to have said, “The sale is complete when the two involved depart with mutual consent” (Al-Bukhari).
The Prophet (peace and blessings be upon him) is reported to have said, “When people cheat in weight and measures, their provision is cut off from them” (Al-Muwatta ‘).
Business Ethics from an Islamic Perspective -Professor Rafik Beekun’s
Ethics may be defined as the set of moral principles that distinguish what is right from what is wrong. Ethics has a twofold objective: it evaluates human practices by calling upon moral standards; also it may give prescriptive advice on how to act morally in a given situation. Ethics, therefore, aims to study both moral and immoral behaviour in order to make well-founded judgments and to arrive at adequate recommendations. Sometimes ethics is used synonymously with morality. An action, which is morally right, is also called an ethical one. Codes of morality are called ethical codes. Business ethics can also be defined as business morality.
1. Make all your trade halaal
2. Trade through mutual consent
3. Be kind in business
4. Be honest and trustworthy
5. Don’t exploit market conditions
6. Be fair
Mufti Ismail Menk Business Ethics in Islam