Chapter 1

Philosophy and
Islamic Business
 Chapter Outline
Introduction 01

Islam As Ad-Din 02

Understanding Shariah 03

Business From Islamic Perspective 04

Introduction
 About Islam

“And I (Allah) have not created the Jinn and mankind except to worship me” (51:56)
Definition
Language : Salaam;
Submission To Allah
SWT.
“Say: He is Allah, (the) One; Allah, the Eternal; He did not beget (give birth) and He was not begotten
(given birth to); And there has never been anyone equal to Him.” (112:1-4)
Almighty

“Verily, We revealed this Reminder, and We verily are its Guardian.” (15:9)

Scripture
The Holy Qur’an is
the last revelation
from Allah SWT.
 About Islam (cont)
‫يت لَ ُك ُم اِإْل ْساَل َم ِدينًا‬
ُ ‫ض‬ ُ ‫ت لَ ُك ْم ِدينَ ُك ْم َوَأ ْت َم ْم‬
ِ ‫ت َعلَ ْي ُك ْم نِ ْع َمتِي َو َر‬ ُ ‫ۚ اليَ ْو َم َأ ْك َم ْل‬
ْ

“This day, I have perfected your religion for you,

completed My favor upon you, and
have chosen for you Islam as your religion” (5:3)
Islam as Ad-Din
 Islam As A Way Of Life
ISLAM

AQIDAH SYARIAH AKHLAQ

(faith & belief) (guidance) (morality & ethics)

Source : Adapted from slides presentation on Fundamentals of Islamic Banking presented by Ahmad Sanusi Husain (Executive Director AIBIM), Muhammad Faozie Shahari
(AmIslamic Bank Berhad) & Jamil Ramly (IBFIM). FSTEP, Bank Negara Malaysia. (In Nordin & Zainuddin, 2016)
Islam All Around The Globe
Islam in Malaysia
Understanding
Shariah
 Definition of Shariah

Arabic term means the way; ISLAMIC LAW.

Following strictly in conjunctions of

A clear path to be followed; Allah SWT or the way of Islam;

The path which the believer has to thread in order to obtain guidance in this world
and deliverance in the next;
 Component of Shariah
al-ahkam al-i’tiqadiyyah al-ahkam al-akhlaqiyyah
The sanctions relating to beliefs The sanctions relating to moral &
such as the belief in Allah SWT and ethics such as the injunction to tell
the day of Judgement. the truth, be sincere, be honest, etc.

al-ahkam al-’amaliyyah
The sanction relating to the sayings
and doings of the individual and his
relations with others.
 Type of Islamic Law
Permissible
An action which is permitted, and the law is
indifferent.

Recommended Disliked
An action which is rewarded, but the An action which disliked yet not
omission is not punishable. punishable, but the omission is
rewarded.

Prescribed Unlawful
An obligatory duty, the omission of An action which is absolutely forbidden
which is punishable. and punishable.
 Types of Human Needs
“Dan carilah pada apa yang telah dianugerahkan Allah kepadamu (kebahagiaan) negeri
akhirat, dan janganlah kamu melupakan bahagianmu dari (kenikmatan) duniawi dan berbuat
baiklah (kepada orang lain) sebagaimana Allah telah berbuat baik, kepadamu, dan janganlah
kamu berbuat kerusakan di (muka) bumi. Sesungguhnya Allah tidak menyukai orang-orang
yang berbuat kerusakan” (28:77).

Daruriyyah Haajiyyah Tahsiniyyah

Basic needs and necessities. After the basic needs are all Experiencing excess wealth
provided.
Business From
Islamic
Perspective
Business From Islamic Perspective
“Yang demikian ialah disebabkan mereka mengatakan: "Bahawa
sesungguhnya berniaga itu sama sahaja seperti riba". Padahal Allah telah
menghalalkan berjual-beli (berniaga) dan mengharamkan riba” (2:275)

Exchange of goods with other A transaction performed in

goods or currency; order to earn profit;

Agreement between sellers

Valid contract in Syara’; and buyers.
Why Business?

01 To satisfy the human needs (dharuriyyat, hajiyyah. tahsiniyyah);

02 To permit exchange of goods using currency;

03 Medium to widen the Islamic teaching.

 Conducting Business In Islam
Freedom Manners
Freedom for Muslim to conduct any Performing business with good
types of business as long as it does manners (akhlak).
not contradict with Shariah.

Valid Contract Honesty & Integrity

The process of legalizing the sale Maintaining integrity in every business
transaction. transactions (marketing, reporting etc.)

Fairness
Performing justice to other human
beings. Hardwork & Persistence
Hai orang-orang yang
beriman, makanlah di
antara rezeki yang
baik-baik yang kami
berikan kepadamu dan
bersyukurlah kepada
Allah, jika benar-benar
kepadaNya kamu
menyembah (2:172)
THANK YOU