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The Trade Conduct of Islam and the State’s Responsibility in its Implementation: An Analysis in the Contemporary Perspective

Abstract

Islam has given comprehensive ethical guidance about the whole life of a person. It is so important that Holy Qur’an praised Hazrat Muhammad (PBUH) as the bearer of good ethics. Unethical activities in economic matters put a very bad impression on society. We should be very much realistic to confess the fact that unethical activities are very common in trade in our society. In this article, guidance is provided to the people who are involved in business activities. Moreover, the duties of a state regarding trade ethics are elaborated. Fairness in business is so important that the development of a society depends on it. Golden principles were given by Holy Prophet (PBUH) about trade and commerce but these are forgotten by the Muslims. There is a dire need to ponder over the ethical teachings of the Holy Qur’an and the last prophet (PBUH) so that we may attain the confidence of the developed nations.