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Aayat, Hadith and Marketing

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This study revolves around the business ethics in light of Aayat and ahadith. it shows how Islam defines the basic rules for business transactions.
Transcript
  Aayat, Ahadith and Marketing Iram Nisa Aayat, Ahaadith and Marketing 1  Aayat, Ahadith and Marketing Iram Nisa  Right to Safety Customers must be protected against products, production processes and services which arehazardous to health or life. For a Muslim businessman, there is no alternative but to satisfy hiscustomer, even if the market and economic situations are making it difficult for him to do so. It ishis obligation to od that he resists these forces and struggle and strive to fulfill thecommandments of Allah the Almighty, even if it has to compromise on some profit. !he wisdom behind the golden rule is that welfare and well being of the customers and the society is far moreimportant than the profitability of single entrepreneur. y preferring customer over profit, a business will reduce its income in short term but will surely improve its sustainability in longrun. Observe just Measure and Weight “O my people! Give just measure and just weight nor with hold from people the things that aretheir due and donor commit mischief in the earth, causing corruption” (11: In this ayah safety of customer#s right has been discussed. $ne way of defrauding the customer isto measure or weigh incorrectly. It is the duty of the seller to deliver the right measure of commodity or product to the customer. In order to earn more profit, if a seller is measuring less customer#s due and taking more value from him. %ltimately, by preferring customer over profit, a business will reduce its income in short term but will surely improve its sustainability in long run. A Muslim should try to do &ustice in measuring and weighing as far as it is humanly  possible, although absolute accuracy in this regard is unattainable. Only Lawful Trade peritted in !sla “O you #elieve! $%uander not your wealth among yourselves in vanity e&cept it is for some#usiness (trade #y mutual consent and 'ill (destroy not yourselves )o dou#t *llah is ever merciful to you” (+:- 2  Aayat, Ahadith and Marketing Iram Nisa !nterpretation !he trade or business done illegal money is not permitted in Islam. Any business, you run from other#s money is not permissible. !here must be mutual consent of both parties 'donor and borrower( before using this money in the business. !he person who will useillegally the property of other, he will be in the loss in long run but gain a benefit in the short run.!his ayah endows the safety to the owner#s right on the property. Law of Mortgage and #ledging  .f you are on a journey and cannot find a scri#e, then a pledge in hand ( shall suffice a deposit may #e with held as lien and if one of you entrusts to another let him who is trusted deliver upthat which is entrusted to him ( according to the pact #etween them and fear *llah his lord (/art +,+0 !nterpretation  )uring the &ourney, if you do transaction with someone but you cannot find ascribe. In order to escape from any type of deception, you can mortgage anything e*ual to theamount of value you deliver as a security. !he thing which has been mortgaged can be given tothe third person who has been entrusted. It will make safe and secure your dealing from any kindof deception and threat. $ribery reprianded “*nd eat not up your property among yourself in vanity and not try to #ri#e authorities with it sothat you may 'nowingly devour a portion of property of others wrongly” (+: 1 Interpretation+ ribery has been prohibited very strictly in Islam. !his ur#anic verse endows thesafety to the property holder. It#s illegal to sell and buy the other#s property intentionally bygiving bribery to the higher authorities. It is also unlawful to take the business contract of thedeserving candidate or company through bribery. In ur#an very harsh words has been used for  both who give and take bribery. 3  Aayat, Ahadith and Marketing Iram Nisa %very #roissory transa&tion kept on re&ord “O you who #elieve! hen you contract a de#t for a fi&ed term, record it in writing 2et a scri#e record it in writing #etween you in (term of e%uity )o literate person should refuse to write as *llah has taught him, so let him write and let him who incurs the de#t dictate, and heed *llah, his 2ord, and shall not omit any part of it 3ut if (the #orrower is of low understanding or wea', or una#le himself to dictate then let the guardian of hisinterest dictate in (term of all fairness” (++:+ !his ayah describes the different steps to the safety and security of the business contracts.%nderlying Islamic philosophy, in writing down the contracts, is the removal of doubt anduncertainty from inter-personal engagements. In business affairs, all parties# rights andobligations are to be fully documented for verification and eploration. !he verses place anemphasis on recording material credit loans and transactions, and advise that these transactionsshould be signed by debtors 'to acknowledge their indebtedness and the amount thereof(, theultimate in verification processes. !he safety regarding the terms of the contract for the illiterateand old people has also been discussed. !he literate person must help honestly the illiterate onein signing and dictating the terms and conditions of contract for a fied term. $n the other han, if the borrower is of low understanding, weak or unable to dictate himself then guardian of hisinterest must be allowed. !he person who will omit any part of the contract will be strictly dealtwith in the world and hereafter by Allah the Almighty. 4

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Jul 23, 2017
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