Islam has a long history with business. However, in 2011 Nazir realised she was missing out on a key consumer: Muslims. The Prophet Salla Allahu alaihi wa sallam said, “Allah the Almighty says, ‘I am the wealthiest of all partners. And this is why the Companions {may Allah be pleased with them} used to compete with one another. The rules of the game are not so different, but the culture is, and few Westerners understand it. So the competition that we are looking at has to be accompanied with a good intention. Kindly suggest. Introduction to Islam (2 ECTS); Islam and Business (3 ECTS); Main economic organisations related to the Muslim Countries (5 ECTS); Islamic Economic Areas (4 ECTS) And whenever it comes to competing, we always have to remember that what we do is for the sake of Allah Azza wa Jall and not for the sake of this Duniya. And this is why the Companions {may Allah be pleased with them} used to compete with one another. This shows us that they used to compete with one another for Allah’s Pleasure. Muslims are required to behave Islamically in their business dealings because Allah Himself is witness to their transactions: Allah Azza wa Jall has ordered us to compete in the Qur’an, and so did the Prophet Salla Allahu alaihi wa sallam. prayer. trepreneurship is a factor that can change the economic . So, you don’t compete with others in getting a better job or marrying the most beautiful woman or collecting money and being richer than others or having more children than others. So the Prophet (Salla Allahu alaihi wa sallam) asked him, “Why are you crying?” He said, “Because you admitted my friend who is fifteen. So just because they should be avoided doesn't mean competition should be avoided. Ethical Guidelines for Muslims in Business. Businesses see competition in the form of price, quality, design, sales, location, and almost every business process. “ حَسْبُنَا اللَّهُ وَنِعْمَ الْوَكِيلُ Hasbunal-laahu wani’mal-Wakeel Surah Al-Imran ,verse 173 It can be recited Triumph and success Fulfillment of all types of needs. In this life, I am merely similar to a rider who saw a tree while on his journey, dismounted and took a short nap in the shade of the tree and then left it.” So the tree is not our objective, this life is not a Muslim’s objective. “ حَسْبُنَا اللَّهُ وَنِعْمَ الْوَكِيلُ Hasbunal-laahu wani’mal-Wakeel Surah Al-Imran ,verse 173 It can be recited Triumph and success Fulfillment of all types of needs. The Prophet (Salla Allahu alaihi wa sallam) also advised us and instructed us to utilize five (things) before five (things). En. Islamic Financial Laws and their adoption in the current era; Islamic Business Ethics; The economics of corruption in the Muslim world; The Arab Spring: economic causes, consequences, and lessons learned; The effects of competition on the development of Islamic finance industry That is why the Prophet Salla Allahu alaihi wa sallam warned us from competing in worldly matters, in wishing and hoping and striving for worldly matters in the sense that it would distract us from what we were really created for and that is to worship Allah Azza wa Jall. Many people complain about it, many learn from it, and many run away from it. Islam appreciated the fair business and Allah says in Qur’an “Stand out firmly for justice, as witnesses to God, even though it is against yourselves, or your parents, or your kin, are the rich or poor.” (Qur’an 4:135).The banking sector is a rising sector which adjust This shows us that they used to compete with one another for Allah’s Pleasure. So the Prophet (Salla Allahu alaihi wa sallam) said, “May Allah bless you.”. This is the trial of Allah Azza wa Jall for us. This is Haraam. But envy here does not mean that you wish that Allah Azza wa Jall takes it away from him and gives it to you. The Concept of Competition and Award in Islam By Dr. Ashraf bin Md. entrepreneurship a place of high esteem [3]. And someone to whom Allah Azza wa Jall has given wealth and he spends it in the means that please Allah Azza wa Jall.” So you can have envy. When competing, do not be afraid to use all resources available. Islamic economics aims at analysing, interpreting, and resolving economic problems in accordance with the principles of Islam. He warns us of the Duniya and also does not indulge in it himself, Salla Allahu alaihi wa sallam, because he is our role model. So, if we take this concept of sincerity and the concept of competing in the deeds for the Hereafter, if we do this, we will excel in doing good deeds and we will keep on competing with one another, not necessarily naming people and telling them, “Listen, at the end of the week, I’d like to see how many good deeds you have.”. Islam is an entire way of life, and Allah's Guidance extends into all areas of our lives. The envy that is meant is the envy of wanting to have similar to it but without it leaving the individual you are envying. From business come marketing activities. I have two healthy children, my friend has ten. Because they pray like we pray, and they fast like we fast, but they have access to wealth with which they can offer Hajj with, they can offer Umrah with, they can offer Jihaad with and they can give it in charity more than what we can give.” So the Prophet (Salla Allahu alaihi wa sallam) instructed them to say after every Fard prayer the supplication: Subhanallah, 33 times; Alhamdulillah, 33 times; Allah hu Akbar, 33 times and Laa ‘ilaaha ‘illallaahu wahdahu laa shareeka lahu, lahul-mulku wa lahul-hamdu wa Huwa ‘alaa kulli shay’in Qadeer, to complete the 100. And such a competition would help the Muslims to strive to Allah Azza wa Jall, because there will be hurdles in front of them, as in every race, there are difficulties and challenges. But the envy that is permissible is that when you wish you have something similar to it. INTRODUCTION Islam is often perceived to be an impediment to business, with the economies of most Muslim states underdeveloped and only five out of the FT Global 500 lead- ing companies by market capitalization based in the Islamic world. A Muslim will not go in for such a bad bargain. Islam is one of the religions that try to encourage people to . Halal and Haram business transactions need to be taken into consideration also when undertaking business transactions or operations. This incident occurred when the Prophet Salla Allahu alaihi wa sallam got some Zakaat money and some war booty which was collected at night. So is giving in charity and to spend when you are young, before you become old. If I have a jet plane and I see someone who has five jet planes, even though we are both multi billionaire, I would still envy him, because he has more. Sorry, preview is currently unavailable. For example, Allah the Almighty has told us, after mentioning the things that are in Jannah and how the righteous people would enjoy them. Islam prohibits transactions which involve unfair competition such as hoarding and prohibition of all types monopolies. It is a temporary phase and the smart one is the one who is guided by Allah to do good deeds and to reap the fruit of his work in Paradise. If I have a beautiful car and I see someone who has an SUV and a sports car and a BMW then I would envy him because he has more than what I have. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. Is their door locking OK? The Prophet (Salla Allahu alaihi wa sallam) ordered us to make Jihaad, to strive in Allah’s Cause and he (Salla Allahu alaihi wa sallam) said, “Whoever dies and did not go for Jihaad or battle and did not even talk about it with himself or aspire about it, then he has died on a branch of hypocrisy.” That is why the Companions understood this: Whenever there was a battle along with the Prophet (Salla Allahu alaihi wa sallam), they used to compete to participate in it. So he went to the Prophet (Salla Allahu alaihi wa sallam) with a large sum of money and said that this is for Allah and His Prophet (Salla Allahu alaihi wa sallam). This goodness, this wealth, this Duniya, would it bring harm to us?” The answer is, yes. Plus when I want to forbade them to do these then my elder tell me to let them do those things. And Allah Azza wa Jall will make you succeed one another so that he would test you and he would try you and he would see what you will do. So, envy which is Haraam is when I see you driving a beautiful car, I envy you and I say, “You don’t deserve this. Keywords: competition, achievement, IHH, CRK, islamic banking, risk management. As a facet of the Islamic approach to sociology, Islamic economics is “an evolving discipline” in the modern world. So the Prophet Salla Allahu alaihi wa sallam says that even the envy of wanting to have a similar car as your neighbor, without him losing it, is not recommended and it is not encouraged because it is in the worldly affairs and worldly matters. It supplements conventional economic analysis by exploring the religious and moral aspects of economic life. So, always look at the positive, always look at the full half of the cup and be grateful to Allah Azza wa Jall as His favors upon you are unlimited. We also know that it is part of Islam to try and win few of the things related to prayer. He said that whoever goes in the first hour, it would be as if he has given away a camel in charity. So we live in this life competing with others, trying our level best to reach the ultimate goal, which is to strive in seeking Allah’s Pleasure and reaching Jannat An Naeem. While in general, If I look at those who are better than me, richer than me, healthier than me, then I would always be dissatisfied. This way I will always be discontent and I will always be displeased with what I have. This goodness, this wealth, this Duniya, would it bring harm to us?” The answer is, yes. would he get a house for every day he prays 12 rakat sunnah or only once for doing it consistently. For example marriage, business, jobs, exams, good health To get the best in this world and the […] Islam has given detailed regulations for our economic life, which is balanced and fair. And the Prophet Salla Allahu alaihi wa sallam gave them a competition in this. Islam dictates a married woman’s wealth is her own, and the business savvy are making smart investments. But if they were requested to be a guest on shows like “America’s Got Talent” or “American Idol” to sing a song or to do something else, they would love to compete in that, Subhanallah! However, this is not an easy task and it can have things that would tarnish it, things that could make it unacceptable in the Sight of Allah. So, even such competition is encouraged in Islam. Shiekh, according to the hadith praying 12 rakat sunnah a day the person will get a house or palace in jannah. He warns us of the Duniya and also does not indulge in it himself, Salla Allahu alaihi wa sallam, because he is our role model. We know that men are obliged to pray the Friday Prayer in the Masjid, unlike women. Competition exists in every market. (2011). Once the poor Companions came to the Prophet (Salla Allahu alaihi wa sallam) and said, “O Prophet of Allah, the wealthy among us have gone with the highest degrees and the highest levels of Jannah. Even so, we should try our level best to go through things that would motivate us to do good deeds. Someone to whom Allah Azza wa Jall has given the knowledge of the Qur’an, so he recites it during the night and the day. Then in the second hour like a cow, then in the third hour like a sheep, then in the fourth hour like a chicken, then in the fifth and last hour like an egg in charity. This is Haraam. Abu Bakr {may Allah be pleased with him} replied, “I left Allah and His Prophet (Salla Allahu alaihi wa sallam).” That is, he gave away a 100% of what he owned. The first goal of a Muslim business should not be cashing in on a Muslim market. And if you are on a wheelchair, be grateful and praise Allah the Almighty because there are people who are paralyzed neck down and are bed ridden. Also, among the doors or the opportunities for competing is to go to the five daily prayers and to hasten in going early to the Friday Prayer. And the Prophet Salla Allahu alaihi wa sallam gave them a competition in this. Cedomir Nestorovic, Professor of Management at ESSEC Business School and author of the recently published book Islamic Marketing: Understanding the Socio-Economic, Cultural, and Politico-Legal Environment, explains the context and challenges of adapting products and services for the Muslim world.. The Prophet Salla Allahu alaihi wa sallam has told us that this Duniya is sweet and green. My wife owes me the Mahr of …. This is the trial of Allah Azza wa Jall for us. International Journal of Islamic Business Ethics is a publication medium for result of researchs conducted by researchers, academicians, and broad society in the field of Islamic economics and Islamic business ethics. And that’s why competing has to be in things that draw you closer to Allah Azza wa Jall. Briefly, competitions without awards are allowed as long as they do not violate any Islamic principles. All interviewees stated that the monopoly … MAKE PROFIT THE SECONDARY AIM. Also, in the Hadeeth of Abdullah ibn Masood { may Allah be pleased with him} we can see how the Prophet Salla Allahu alaihi wa sallam never competed over material things. Statistics from the U.S. Census Bureau shows that up to 6% of the country's trade was with the world's Muslim-majority countries in 2015. But I sometimes have to pray alone in the mosque ’cause I couldn’t be there on time for the cong. It isn’t essential however it is encouraged for Muslims to become entrepreneurs. This can be applied to all business, not just the meat business: 1. And even if you are bed ridden, be always grateful to Allah Azza wa Jall that you have your sanity and that you have your brains and that you praise Allah and thank Him and be grateful to Him. I was only able to pay 20%. The same applies to all forms of monopolistic competition (price, goods, etc). Allah. So the Prophet Salla Allahu alaihi wa sallam said, “What do I have to do with this Duniya? Hashim International Islamic University Malaysia Abstract This article attempts to analyse the relationship between competitions, awards and gambling. If you have a car, don’t look at those who have two cars, rather look at those who don’t have a car at all and they ride a motorcycle. The Prophet (Salla Allahu alaihi wa sallam) said, “Race against patches of dark night, calamities that are as dark as the night, where a believer wakes up as a Mu’min (believer) and by the end of the day he becomes a Ka’afir (disbeliever).”. lac Taka which I could not pay. So, even the poor were competing with the rich. Can I will that money so that if I die, she would get that money & I would be out of debt. He (Salla Allahu alaihi wa sallam) said, “Utilize your youth before your old age, and your health before your illness, and your richness before your poverty, and your free time before you get occupied, and your life before your death.” All of this is encouragement for us to strive and to compete. But the most important thing is that my intention is for the Sake of Allah Azza wa Jall, because when I compete with you in religious issues and my intention is to beat you, not for the Sake of Allah but rather just to win, then this is a BIG problem. Competition is a fact of doing business. ”Allah (Alone) is Sufficient for us, and (He is) the Best Disposer of affairs. Both business and ethics are interrelated. Economy is always considered a backbone of any society. This article emphasizes on the Islamic law principle to the competition law and policy with reference to the al-Quran, al-Sunnah, qawaidh fiqh and other sources of Islamic … The Prophet (Sallallahu Alaihi wa Sallam) said: No contest is allowed except in swordplay or horse or camel racing. I will never be content. So I’m always envious, I’m always sad and this is what the Prophet Salla Allahu alaihi wa sallam has warned us about. Umar once said to himself that today he would beat Abu Bakr in giving charity. So, if we take this concept of sincerity and the concept of competing in the deeds for the Hereafter, if we do this, we will excel in doing good deeds and we will keep on competing with one another, not necessarily naming people and telling them, “Listen, at the end of the week, I’d like to see how many good deeds you have.”. We know that men are obliged to pray the Friday Prayer in the Masjid, unlike women. The Prophet Salla Allahu alaihi wa sallam said to ibn Umar (his brother-in-law and one of his great Companions), “Be in this life as if you are a stranger or a passer-by.” So we should not live in this Duniya as if we are here to stay because we are not. Islam . The Prophet (Salla Allahu alaihi wa sallam) also advised us and instructed us to utilize five (things) before five (things). A while later, Abu Bakr, may Allah be pleased with him, came with a larger amount and he put it in front of the Prophet (Salla Allahu alaihi wa sallam) and said, “This is for Allah and the Prophet (Salla Allahu alaihi wa sallam).” So the Prophet (Salla Allahu alaihi wa sallam) asked him the same as he had asked Umar, may Allah be pleased with him. And if you have a bicycle, praise Allah and thank Him because others don’t even have a bicycle and they have to walk. This incident occurred when the Prophet Salla Allahu alaihi wa sallam got some Zakaat money and some war booty which was collected at night. And that’s why competing has to be in things that draw you closer to Allah Azza wa Jall. As Muslims, we have to adhere to ethical standards, not only in business but also in all aspects of life. Let alone, if you ask someone to call the Adhaan, the majority of Muslims would refrain, being shy or being ashamed or not knowing how to call the Adhaan. Prophet Muhammad (peace be upon him) was a trader himself and his wife, Khadijah (RA) was also runs business in trading. VIRTUAL BIOTECH BUSINESS IDEA COMPETITION ORGANISED | International Islamic University International Journal of Islamic Business Ethics is a publication medium for result of researchs conducted by researchers, academicians, and broad society in the field of Islamic economics and Islamic business ethics. I have a beautiful wife, my friend has four. Allah Azza wa Jall has ordered us to compete in the Qur’an, and so did the Prophet Salla Allahu alaihi wa sallam. As the literal word of God, the Qur’an makes known the will of God, to which humans must surrender (lending the name Islam, meaning ‘surrender’). So the competition that we are looking at has to be accompanied with a good intention. The Online Professional Course “Islam, Ethics and Business” (15 ECTS) taught by EENI Global Business School consists of five modules:. Allah has created death and life to test us that, who among us is the best in deeds, not the most in deeds. And life as we know it is a place of competition. Companies use the modern tool of “collaboration” to keep ahead of their competition. Muslims are to recognize that wealth, earnings, and material goods are the property of God and that we are merely His trustees. When the Companions saw the bounties of war and the money and they were hoping to get some part of it, the Prophet Salla Allahu alaihi wa sallam told them to be positive and hope for the best and that In Sha Allah nothing would happen except that which they wished for. Otherwise, don’t compete with others. Shahin Hussain – … So she started making cards that catered directly to them, creating cards, homeware, bunting and gifts that celebrated Islamic culture, holidays and imagery. Advertising of Islamic banking Products. And whenever it comes to competing, we always have to remember that what we do is for the sake of Allah Azza wa Jall and not for the sake of this Duniya. Whoever associates anyone with Me, I will leave him and his Shirk’” That is, Allah will leave that person and his bad deed because he associated others with Him in his intention. Business Competition 1. BUSINESS COMPETITION Presented by: ADITI WALIA 2. The Prophet (Salla Allahu alaihi wa sallam) said in an authentic Hadeeth, “Race in doing good deeds.” The Companions asked, “What are we racing against, O Prophet of Allah?”. There is a Hadith about an old woman who used to throw garbage on Prophet S.A.W, is that authentic, because people say that even a fly never sat on Prophet, And He didn’t have Shadow, how can someone throw garbage on Him, is this true? Materialistic matters are not of importance in the eyes of Islam. And they would draw lots or flip a coin to decide who will get this reward.” Unfortunately, nowadays if you enter a Masjid before Salah, you will find the people filling the rows in the back of the Masjid and they are not interested in occupying the first row, which the Prophet Salla Allahu alaihi wa sallam has encouraged us to do. This sort of competition applies to virtually all businesses and employees. Halal business in Islam is a fundamental element of the faith in regards to having financial freedom as well as location freedom. And when the Imaam enters the Masjid, the Angels will shut their record books and sit and listen to the Imaam. So the Companions suggested that they would give him a better bed. And I am stronger than him and I can win against him in wrestling.” So the Prophet (Salla Allahu alaihi wa sallam) allowed them to wrestle and when the fourteen year old Companion won, he (Salla Allahu alaihi wa sallam) admitted him to join the battle. He (Salla Allahu alaihi wa sallam) said, “Utilize your youth before your old age, and your health before your illness, and your richness before your poverty, and your free time before you get occupied, and your life before your death.” All of this is encouragement for us to strive and to compete. So the Prophet Salla Allahu alaihi wa sallam asked them, “Do you think that I was going to forget you? But most don’t know the true meaning of business competition, its nature, types, and even importance. Flourishing business plays a vital role in raising the social status of an individual and the community as it ultimately strengthens the economy of any country. So, even such competition is encouraged in Islam. Umar once said to himself that today he would beat Abu Bakr in giving charity. , according to the hadith praying 12 rakat sunnah a day the person will get house! Shiekh, according to the hadith praying 12 rakat sunnah or only once doing! For Muslims to become entrepreneurs ethics with relation to both one ’ s snowy Indonesia UII. Afraid to use all resources available want to aspire ; aspire after that Angels shut! Standards, not just the meat business: 1 trepreneurship is a place of competition so is giving in and! With a good intention Muslims, we should try our level Best to go things! 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