Islam prescribes specific guidelines regarding ethics in business. The 10 tenets of Islamic business Ethics include:
- Halal earnings.
- Trade through mutual consent.
- Truthfulness in business transaction.
- Trustworthiness in business transactions.
- Generosity and leniency in business transactions.
- Prohibition of sale of uncertainty & risks.
- Exploitation of one’s ignorance of market conditions.
- Cheating and fraud in business transactions.
- Honouring and fulfilling business obligations .
- Fair treatment of workers.
- We should look for the best way to protect our clients and employees. “You are only as strong as your weakest link”.
- Lastly, we should endeavour to educate our children about Islamic morals and ethics.