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Ethics in Islamic Economics

Author

Listed:
  • Faical Boutayeba
  • Mohammed Benhamida
  • Souad Guesmi

    (University of Saida, Algeria)

Abstract

The purpose of this contribution is to shed some light on the inter-relationships between ethics and economics in Islamic religion, and mainly to assert that ethics constitute endogenous phenomena in Islamic economics. In Islam, economic behaviours and transactions cannot be separated from ethics and values. The Islamic principles are intended to govern, direct and control human beings’ behaviours in their daily economic lives. They are aimed at helping people to distinguish between good and bad things while they do any economic activity. It is worth noting that the moral values in Islamic economics are derived from the main sources of Islam namely: the Quran (the holy book of Islamic religion) and Sunnah (the teachings and behaviours of the prophet of Islam: Muhammad PBUH 570-632 AD). Both of them represent the principal pillars of Shariah (Islamic laws and guidelines), which is seen by Muslims as the proper way to happiness, not only in economic life but in all aspects of life.

Suggested Citation

  • Faical Boutayeba & Mohammed Benhamida & Souad Guesmi, 2014. "Ethics in Islamic Economics," Annales. Ethics in Economic Life, University of Lodz, Faculty of Economics and Sociology, vol. 17(4), pages 111-121, December.
    • Handle: RePEc:ann:journl:v:17:y:2014:i:4:p:111-121
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    References listed on IDEAS

    as
    1. Masudul Alam Choudhury, 1990. "The Humanomic Structure of Islamic Economic .Theory: A Critical Review of Literature in Normative and Positive Economics البنية الاقتصادية - الإنسانية لنظرية الاقتصاد الإسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 2(1), pages 47-65, January.
    2. Zaman, Asad, 2008. "Islamic Economics: A Survey of the Literature," MPRA Paper 11024, University Library of Munich, Germany.
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    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics Profession > Ethics in Economics

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    Cited by:

    1. Riyad Moosa, 2023. "An Overview of Islamic Accounting: The Murabaha Contract," JRFM, MDPI, vol. 16(7), pages 1-15, July.

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    More about this item

    Keywords

    Ethics; Islam; Islamic economics;
    All these keywords.

    JEL classification:

    • P40 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - General

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