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Determining Conformity to Islamic Ethical Principles in Economic Practices: A Case of Pakistan

Author

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  • Shaikh, Salman

Abstract

The paper discuses sources of income permitted and prohibited in the faith of Islam. Under ethical constraints i.e. the allowed framework in which an individual or group of individuals can undertake economic pursuits, the Islamic teachings relating to the right conduct in economic pursuits are provided. Then, when the person in his/her economic pursuits becomes an earning individual, the Islamic teachings to an earning individual are provided in the light of Quran and Hadith. The paper also compares secular and Islamic ethics briefly. The paper also analyzes conformity of economic practices with Islamic principles and identifies specific ethical issues and deviations in specific sectors of economy at the sector and industry level.

Suggested Citation

  • Shaikh, Salman, 2009. "Determining Conformity to Islamic Ethical Principles in Economic Practices: A Case of Pakistan," MPRA Paper 19696, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:19696
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    File URL: https://mpra.ub.uni-muenchen.de/19696/1/MPRA_paper_19696.pdf
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    More about this item

    Keywords

    Islamic Ethics; Islamic Morality; Secular Ethics; Moral Relativism; Ethical Relativism.;
    All these keywords.

    JEL classification:

    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics

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