Adoption of Islamic Business Ethics among Malay Entrepreneurs in Terengganu: An Insight from Qualitative Approach

Abstract

This paper aims to understand the application of Islamic business ethics among Malay entrepreneurs. This research used in-depth interviews of Malay entrepreneurs located in Terengganu, the earliest state to receive Islam in Malaysia and is well-known in adopting the Islamic governance system. This qualitative study generally intends to analyze the implementation of the Islamic business ethics among the Malay entrepreneurs in Terengganu, based on four business functions which are production, consumption, transaction and distribution. The findings show that local entrepreneurs in Terengganu possess knowledge as well as awareness towards the practice and implementation of the ideal Islamic business practice by prioritizing the values in the four business functions discussed. Consequently, these practices contribute to their level of competitiveness compared to their other fellows.