Business and Marketing Ethics in Islam: A Conceptual Study

Abstract

Islamic ethics positions men in relation to Allah, his own self and the universe. Interest about Islamic ethics in business and marketing practices has been growing among the various segments of populations including academics, manufacturers, consumers, workers, and mass people. The present study aimed at exploring the ethical concept of business and Marketing in Islam. As the study is a conceptual in nature, it is mainly based on content analysis and used secondary data and information. To attain the objectives, the study consulted Holy Qur’an, different books of Hadith, journal and related literature. The study revealed that, the principle of faithful observance of contracts, abstaining from false advertising and mis-presentation, accurate measurement, non-indulgence in hoarding and profiteering, avoiding destruction of surplus produce, prohibition of interest and unlawful trade, fair and just recruitment practices, brotherly treatment of workers, protection from environmental pollution, are only illustrative of business ethics in Islam. This study also emphasizes the necessity of further study on the implications of Islamic principles in the context of present-day business and marketing situation so that these principles could be operationalized.