Islamic Business Ethics Flashcard

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What is the concept of Islamic business ethics?

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Moral guidelines and principles governing business practices in Islam

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What are the key principles of Islamic business ethics?

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Honesty, integrity, fairness, and social responsibility

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How does Islamic business ethics differ from conventional business ethics?

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Islamic business ethics are based on the principles of Shariah law and emphasize social responsibility and fairness.

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Why is honesty important in Islamic business ethics?

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Honesty promotes trust and transparency in business dealings.

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What is the significance of fairness and justice in Islamic business ethics?

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Fairness and justice ensure equitable treatment of all stakeholders and promote social responsibility.

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How does Islamic business ethics promote social responsibility?

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By emphasizing honesty, fairness, and accountability in business dealings, as well as encouraging charity and helping those in need.