ABSTRACT

Islam provides us the full fledged ethics of business if once implemented transparently; it can bring the resolution in the field of business and economy. Ethics is considered the moral standards by which people judge behaviour. Islam places the highest emphasis on ethical values in all aspects of human life. In Islam, ethics governs all aspects of life. Ethical norms and moral codes discernible from the verses of the Qur’an and the Hadith are numerous, far reaching and comprehensive. In an Islamic system, ethics and business are not only compatible but also they are inseparable. Islam stresses the link between business and religion. It projects a perfect way of life. A human manner and behavior in small and medium enterprises cannot be effectively clarified without references to the Islamic ethics which can manage it. Thus, this research paper will discuss the Islamic business ethics on one hand and its philosophy on the other hand.