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Handbook of Research on Islamic Business Ethics
The complex relationship between society and business is vividly captured by ethical standards and obligations. This is especially pertinent in the Islamic world, where religion plays a key role in both social and commercial interactions. Many people see the presence or absence of ethical commitments as an indicator of whether business actors uphold their social responsibilities, and there is an increasing recognition of the significance of ethical value for business. This Handbook explores the interweaving relationship between Islamic business ethics and the market, and examines the critical role that ethics can play in ensuring that business thrives. By offering theoretical perspectives on research it goes beyond the conventional treatment of Islamic ethics, and asks what is important for the various market and social actors in the business world to behave in a morally responsible manner.
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Critical Acclaim
Contributors
Contents
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The Handbook of Research on Islamic Business Ethics is an essential source for policymakers and researchers to gain an understanding of pressing ethical issues in the Islamic business world. The primary objective is to provide readers with an insight into the ethical principles that govern Islamic business conduct. These principles are articulated with a view to evaluating whether business actors uphold their social responsibilities and are committed to ethical values in their conduct.
Exploring the interweaving relationship between Islamic business ethics and the market, this Handbook examines the critical role that ethics can play in ensuring that business thrives. It offers theoretical perspectives on research and goes beyond the conventional treatment of Islamic ethics. It debates important market issues and asserts that social actors in the Islamic business world should be cognisant of these issues so as to behave in a moral and responsible manner. Implications for researchers and for market conduct are illuminated.
Readers wanting to familiarize themselves with day-to-day Islamic business ethics will find this Handbook an invaluable guide.
Exploring the interweaving relationship between Islamic business ethics and the market, this Handbook examines the critical role that ethics can play in ensuring that business thrives. It offers theoretical perspectives on research and goes beyond the conventional treatment of Islamic ethics. It debates important market issues and asserts that social actors in the Islamic business world should be cognisant of these issues so as to behave in a moral and responsible manner. Implications for researchers and for market conduct are illuminated.
Readers wanting to familiarize themselves with day-to-day Islamic business ethics will find this Handbook an invaluable guide.
Critical Acclaim
‘This book is a collection of thought provoking and timely readings on a topic of increasing importance; business ethics in Islam. The chapters provide an excellent review and integration of diverse literature on Islamic business ethics within contemporary frameworks. The chapters are also an excellent source for ideas on future research projects. I would highly recommend this book for students of not only business morality and ethics, but also for those interested in comparative and cross-cultural management.’
– Ahmed Amin Mohamed, German University in Cairo, Egypt
‘This landmark book of readings on the subject of Islamic Business Ethics edited by Professor Abbas Ali is a true gem. Unlike most volumes that are edited, this Handbook reads like a truly integrated wholeness of symmetry. The topics covered including those of individual rights, marketing ethics, and financial conduct are most germane in helping to understand the international business arena. Professor Ali''s striking introduction to the topic – as well as the reflections of the top scholars regarding the topic – make this book superb. I highly recommend this treatise to executives and scholars and as required reading in Business Ethics courses in both undergraduate and graduate Schools of Business.’
– Douglas M. McCabe, Georgetown University, US
''An intriguing journey into an important subject that is often neglected in the Muslim World. This collection represents a perspective on business ethics necessary for scholars and Muslim researchers to familiarize themselves with original Islamic precepts in the marketplace. Indeed, this Handbook is a must read and it is needed in a world where greed and material gains have increasingly become a motivational factor.''
– Abdulrahman Al-Aali, King Saud University, Saudi Arabia
‘When business ethics began its emergence as legitimate field of study in the late 1970s a primary goal was to confront the over-employed moral argument of utilitarianism - namely, the idea that an action is right if it produces the greatest amount of good for the greatest number of people. Utilitarianism needed confronting because the idea of “good “ had been subverted to mean, “profit” for corporate stockholders. Thanks to the efforts of Dr. Abbas Ali and his co-contributors to Handbook of Research on Islamic Business Ethics we now have a fresh and compelling set of new perspectives. Peace through commerce might be a fanciful goal, but thank you Professor Ali, for giving us a new reason to keep trying.’
– Paul M. Swiercz, The George Washington University, US
– Ahmed Amin Mohamed, German University in Cairo, Egypt
‘This landmark book of readings on the subject of Islamic Business Ethics edited by Professor Abbas Ali is a true gem. Unlike most volumes that are edited, this Handbook reads like a truly integrated wholeness of symmetry. The topics covered including those of individual rights, marketing ethics, and financial conduct are most germane in helping to understand the international business arena. Professor Ali''s striking introduction to the topic – as well as the reflections of the top scholars regarding the topic – make this book superb. I highly recommend this treatise to executives and scholars and as required reading in Business Ethics courses in both undergraduate and graduate Schools of Business.’
– Douglas M. McCabe, Georgetown University, US
''An intriguing journey into an important subject that is often neglected in the Muslim World. This collection represents a perspective on business ethics necessary for scholars and Muslim researchers to familiarize themselves with original Islamic precepts in the marketplace. Indeed, this Handbook is a must read and it is needed in a world where greed and material gains have increasingly become a motivational factor.''
– Abdulrahman Al-Aali, King Saud University, Saudi Arabia
‘When business ethics began its emergence as legitimate field of study in the late 1970s a primary goal was to confront the over-employed moral argument of utilitarianism - namely, the idea that an action is right if it produces the greatest amount of good for the greatest number of people. Utilitarianism needed confronting because the idea of “good “ had been subverted to mean, “profit” for corporate stockholders. Thanks to the efforts of Dr. Abbas Ali and his co-contributors to Handbook of Research on Islamic Business Ethics we now have a fresh and compelling set of new perspectives. Peace through commerce might be a fanciful goal, but thank you Professor Ali, for giving us a new reason to keep trying.’
– Paul M. Swiercz, The George Washington University, US
Contributors
Contributors: I.-ad-D. Ahmad, A.J. Ali, S.M.Al-Taee, M.A. Choudhury, D. Dajani, S. Elfakhani, T.A. Hojjat, M. Khan, S. Mazen, R. Mir, H.G. Rammal, H. Shahpari, Y.M. Sidani, J.A.J. Wilson, S.G. Yaseen, L. Zakariyah
Contents
Contents:
Acknowledgement
INTRODUCTION
1. Business Ethics: Facing the Challenge in an Uncertain World
Abbas J. Ali
PART I THE ETHICS OF KNOWLEDGE AND INDIVIDUAL RIGHTS
2. The Ethics of Knowledge
Abbas J. Ali
3. Individual Rights and Responsibilities, Morality, Relativism and Self-Interest
Imad-ad-Dean Ahmad
PART II THE ETHICAL SYSTEM
4. Religion, Virtuous Conduct, Justice, Vocation and the Ethics of Hard Work: A Descriptive View of Islamic Sociocultural Systems and Economics
Hasan Shahpari and Tahereh Alavi Hojjat
5. The Nature of Business as Social Ethics in Mainstream and Islamic Worldview
Masudul Alam Choudhury
6. Uncertainty or ‘Gharar’ in Contracts Under the Islamic Ethical Code
Said Elfakhani and Yusuf M. Sidani
PART III MARKETING ETHICS
7. Brand Islam and the Marketing of Muslim Ethics to a Global Audience
Jonathan A.J. Wilson
8. Ethical Considerations in ‘Islamic’ Marketing and Promotion: A Spotlight on the Islamic Bank of Britain
Luqman Zakariyah
PART IV ETHICS AND POWER
9. Leadership in Islam: Ethical and Theoretical Foundations
Abbas J. Ali
10. Power and Authority: The Ten Commandments Perspective
Abbas J. Ali
PART V ISLAMIC ETHICS AND FINANCIAL CONDUCT
11. Islamic Finance and Social Justice: A Reappraisal
Raza Mir and Muqtedar Khan
12. Managing the Ethical Aspects of Islamic Banking and Finance
Hussain G. Rammal
13. The Ethics of Islamic Accounting
Yusuf M. Sidani
PART VI ISLAMIC WORK ETHIC
14. Work Ethics in the GCC Countries: Current Challenges and the Road Ahead
Yusuf M. Sidani
15. Islamic Work Ethics and Organizational Commitment: A Case of Jordanian Islamic Banks
Saad G. Yaseen, Dima Dajani and Sama Mazen Al-Taee
Index
Acknowledgement
INTRODUCTION
1. Business Ethics: Facing the Challenge in an Uncertain World
Abbas J. Ali
PART I THE ETHICS OF KNOWLEDGE AND INDIVIDUAL RIGHTS
2. The Ethics of Knowledge
Abbas J. Ali
3. Individual Rights and Responsibilities, Morality, Relativism and Self-Interest
Imad-ad-Dean Ahmad
PART II THE ETHICAL SYSTEM
4. Religion, Virtuous Conduct, Justice, Vocation and the Ethics of Hard Work: A Descriptive View of Islamic Sociocultural Systems and Economics
Hasan Shahpari and Tahereh Alavi Hojjat
5. The Nature of Business as Social Ethics in Mainstream and Islamic Worldview
Masudul Alam Choudhury
6. Uncertainty or ‘Gharar’ in Contracts Under the Islamic Ethical Code
Said Elfakhani and Yusuf M. Sidani
PART III MARKETING ETHICS
7. Brand Islam and the Marketing of Muslim Ethics to a Global Audience
Jonathan A.J. Wilson
8. Ethical Considerations in ‘Islamic’ Marketing and Promotion: A Spotlight on the Islamic Bank of Britain
Luqman Zakariyah
PART IV ETHICS AND POWER
9. Leadership in Islam: Ethical and Theoretical Foundations
Abbas J. Ali
10. Power and Authority: The Ten Commandments Perspective
Abbas J. Ali
PART V ISLAMIC ETHICS AND FINANCIAL CONDUCT
11. Islamic Finance and Social Justice: A Reappraisal
Raza Mir and Muqtedar Khan
12. Managing the Ethical Aspects of Islamic Banking and Finance
Hussain G. Rammal
13. The Ethics of Islamic Accounting
Yusuf M. Sidani
PART VI ISLAMIC WORK ETHIC
14. Work Ethics in the GCC Countries: Current Challenges and the Road Ahead
Yusuf M. Sidani
15. Islamic Work Ethics and Organizational Commitment: A Case of Jordanian Islamic Banks
Saad G. Yaseen, Dima Dajani and Sama Mazen Al-Taee
Index
