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Islam encompasses nearly a third of all people on the planet. Thus far most of the business development has been through Western lenses and Western Scholars. Yet the East has much to offer in terms of new business models, different perspectives and ethical standards. From the Kenneth Lay scandals to embezzlement the Western world’s concept of business is beginning to be challenged. Islam and Eastern scholars have much to offer to this debate if the world was willing to listen. Internationally a recent study of 300 companies across the globe indicated that 85% of senior executives indicated that they were concerned with employee conflicts of interest, inappropriate gifts, sexual harassment, and unauthorized payments (Baumann, 1987). These managers are concerned about the ethical values of their employees and how this impacts their operations. Poor ethical values can cause serious efficiency and legal problems for organizations. You are the best of peoples, evolved for mankind, enjoining what is right, forbidding what is wrong, and believing in Allah. (Qur’an 3:110) The very principles laid out in the Quran and Hadith indicate that business must be conducted through an ethical standard. Muslim people can be as guilty as anyone else when not treating people fairly and equitably. That is, they are human and prone to the same desires. Yet Islam forbids such disdain for human cooperation in business and thus we must look at the goal before understanding the standard. Allah’s Messenger (peace be upon him) forbade the sale of fruits till they are almost ripe. Anas was asked what is meant by “are almost ripe.” He replied, “Till they become red.” Allah’s Messenger (peace be upon him) further said, “If Allah spoiled the fruits, what right would one have to take the money of one’s brother (i.e., other people)?” We learn that according to Islamic principles business encompasses both the future and the past. For example, a person should not sell an item until it practically guaranteed that the purchaser is getting what he/she is paying for. This concept would make misrepresentation, theft, embezzlement, poor delivery, poor service or the breaking of contracts forbidden.
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