As Muslims, we have to adhere to ethical standards, not only in business but also in all aspects of life. Both business and ethics are interrelated.

It is worthy stressing here that when Muslims stick to ethics in their daily lives, they will become good examples to emulate. Perhaps this will help rectify some aspects of the distorted image about Islam. Thus they will, to some extent, become worthy ambassadors of their religion.

The Role of Business Ethics Today

Business people and their enterprise require to be reminded about their role and responsibilities. The following issues need special attention in the present scenario.

  1. Globalization should mean that all people are considered to comprise one family. All human beings should be treated with respect, equality, and fairness. Exploitation of one group by another should be stopped. There should not be any division among people because of their race, colour, nationality, gender, or faith.
  2. The resources of the Earth are not only for us, we share this biosphere with other species, and so we take care not to waste or destroy them.
  3. We should use the Earth’s resources with great care and should remember that we have a duty to leave this world in a better condition for the posterity.
  4. Human beings are one family, although we have our differences. Diversity is natural and beautiful. We should try to understand other people’s religions and cultures and we should be sensitive to their feelings and emotions.
  5. The universal golden rule states, “Like for others what you like for yourself.” We should try to empower others and work to eradicate poverty, hunger, illiteracy, disease, and unsanitary conditions in order to live in peace and tranquility.
  6. Businesses should promote ethical standards in their enterprise, People involved in business should always be honest, truthful, and fulfil all promises and commitments. We must eliminate fraud and cut-throat competition.
  7. We should also promote more political freedom, open debates, participatory democracies.
  8. -We must encourage and support an educational system that promotes openness, dialogue and that which guards against fanaticism. Our educational system should not teach every view in the absolutist terms. Our children should be taught about the multitude of perspectives and one should be open to other points of view.

Dr. Muzammil Siddiqi is President of the Fiqh Council of North America based in Los Angeles, California. 


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