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Islamic Business Principles

Islamic businesses operate based on ethical and moral guidelines that align with Islamic teachings. These principles ensure fairness, accountability, and justice in all business dealings. The foundation of Islamic business revolves around core values, including the belief in the oneness of God, justice, free will, responsibility, and benevolence.

Model 1. The foundation of Islamic business

The concept of divine unity establishes that all business activities should be conducted with integrity and a sense of accountability. Justice requires fairness and transparency in financial transactions, preventing fraud, exploitation, and dishonesty. Free will acknowledges human agency in decision-making, encouraging entrepreneurship and innovation within ethical boundaries. Responsibility emphasizes ethical obligations toward society, employees, and consumers, ensuring businesses contribute to social welfare. Benevolence further encourages businesses to act with kindness and generosity, going beyond basic fairness.

Islamic business practices also recognize economic principles such as lawful trade, fair distribution, and ethical consumption. Business transactions must avoid elements such as gambling, excessive uncertainty, and interest-based earnings. Economic activities focus on permissible production methods, fair distribution, and ethical…

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