In all spheres of life, Islam places a strong emphasis on ethics and moral standards. Islamic ethics focuses on moral concepts and teaches people how to discriminate between good and evil.
A Muslim must act honestly and fairly in all of his interactions, not only in business. He does this because he is aware that God is watching and will judge individuals according to their actions.
There are various reasons why Islamic business ethics are important. However, one of the main reasons is that we face multiple scenarios in life that require us to make moral decisions. Since the stakes are high in the business world, it is likely that we may find ourselves selfishly prioritizing profit over everything else. Hence, Islamic rules of business set clear lines between right and wrong.
The Prophet, peace and blessings be upon him, was asked, “What is the best earning?” The Prophet said, “It is an honest sale or a man’s work with his hands.”
– Musnad Aḥmad 15523
The need to maintain honesty and integrity in business can not be over emphasized. It is accepted that having a desire for money is natural, but there must be a balance and money shouldn’t be worshipped. Islamic principles encourage that justice, honesty, and compassion should be the basis of your business.
Also, treating an employee fairly is very important in islam
The principle of treating employees well and paying them on time is central to Islamic business ethics. As a Muslim business owner, you should treat your employees well in addition to receiving compensation on schedule. An employer must understand that a delay in the payment of salaries could lead to severe issues in the employee’s life.
There are various hadith that encourage employers to be fair to their employees and pay them on time.
Abdullah ibn Umar reported: The Messenger of Allah, peace and blessings be upon him, said, “Pay the worker his wages before his sweat has dried.”
Source: Sunan Ibn Mājah 2443
Employers are encouraged to pay the wage of their workers before their sweat dries.
May the blessings of Allah be upon all of us and accept our prayers this Ramadan.
Special thanks to Alhaji Momoh Isah for your contribution on this.
Join us tomorrow for Day 2 of “From the Prophet’s Teaching”: a special Ramadan series from Community Magazine.
