Islamic Business Ethics & the Moral Economy
Building a Halal Economy Rooted in Trust, Justice, and Ihsan
Workshop Overview
Transform your understanding of Islamic business ethics and apply the Prophetic model of commerce in today's complex markets. This workshop empowers participants with practical tools to institutionalize trust, transparency, and justice within their organizations — nurturing a truly halal and value-driven economy.
Day 1: Foundations of Ethical Business in Islam
Session 1: Core Ethical Pillars in Islamic Business
- Deep dive into Amanah (trust), ‘Adl (justice), Ihsan (excellence), and Shafafiyyah (transparency)
- Explore case studies of ethical breaches and best practices in halal sectors
- Understand the spiritual and social implications of business ethics
Session 2: Prohibited Practices and Modern Equivalents
- Identify forms of Riba (usury), Gharar (uncertainty), and Tadlis (deception) in modern trade
- Analyze real-life scenarios: predatory lending, misleading labeling, ambiguous contracts
- Learn strategies to safeguard your business from haram risks
Session 3: Balancing Profit with Responsibility
- Explore Islamic views on consumer rights, fair pricing, and CSR
- Introduce ethical business scorecards and Shariah-aligned sustainability metrics
- Group activity: Create a values-based CSR model for your sector
Day 2: The Prophetic Model for Ethical Business
Session 1: Trade Practices of Prophet Muhammad ﷺ
- Discover the Prophet’s (SAW) approach to honesty, empathy, and negotiation
- Learn through examples: How he built consumer trust and loyalty
- Case activity: Apply Prophetic principles to solve modern business dilemmas
Session 2: Ethical Contracts and Negotiations in Islam
- Understand the fiqh of ‘Aqd (contract): elements of validity, mutual consent, and no exploitation
- Simulation: Draft and role-play a Shariah-compliant business agreement
- Learn how to incorporate clarity and justice into every transaction
Session 3: Institutionalizing Ethics in Your Organization
- Develop your own Islamic Code of Conduct
- Design ethical onboarding and training modules
- Build a compliance framework aligned with Maqasid al-Shariah
Key Takeaways
- The Pillars of Ethical Business
- How to Avoid Modern Riba, Gharar & Fraud
- Trade Ethics of the Prophet ﷺ – Applied to Today
- Contracts, Negotiations & Fair Dealing in Islam
- Tools to Institutionalize Ethics in Your Organization
Prof. Dr. Suhaimi Bin Mhd. Sarif
Prof. Dr. Suhaimi bin Mhd. Sarif is a distinguished academic in Business Administration and Islamic Management at the International Islamic University Malaysia (IIUM). Known for integrating ethical leadership and sustainability with Islamic values, he combines academic excellence with real-world experience.
He holds a BBA (IIUM, 1999), MBA in Management (UKM, 2002), Postgraduate Diploma in Islamic Revealed Knowledge (IIUM, 2005), and a PhD in Commerce (Murdoch University, Australia, 2009). His work bridges conventional and Islamic scholarship.
Prof. Suhaimi is a certified preacher (PBNS) by MAIS and holds a teaching permit from JAWI, actively contributing to Islamic da'wah. His expertise includes strategic and Islamic management, social entrepreneurship, and business ethics, with a research focus on the Tawhidic paradigm—linking faith to ethical conduct, resilience, and CSR.
He began his career in plantations (United Plantations) and construction (Dynamerge/MTD Capital) and gained international experience in Australia's halal poultry and maintenance sectors. He works closely with national agencies like SIRIM to integrate Islamic values into innovation and enterprise.
Prof. Suhaimi offers a unique, values-driven perspective that empowers individuals and institutions to align business with ethical, sustainable, and faith-based principles.
Testimonials
49USD/person/2 day
Limited Time Offer12 - 13 July 2025
2 Days × 3 Hours = 6 Hours
- 2:00pm - 5:00pm Malaysia Time
To Enroll or for Group Discount or for any information please talk to us via live chat or email us at class@islamicea.com
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Shaigh Thafier Najjaar
Assalamu alaikum wr br,
May I take this opportunity to thank you for organising such a wonderful and a very important seminar, especially in times like today where money has become a priority in life.
The seminar reminds us how we must earn and even how to treat the worker and also very important the client.
How also how beautiful islam governs us in all aspects of doing business. Well done you all. Hope there will be more seminars like this u will definitely have our support and participation in it.
I thank you and Allah bless you.
Islamic Council of South Africa
Shaigh Thafier Najjaar
Gemma Ali
This course was incredibly informative, especially the section on the pillars of ethical business. I learned several important terms I wasn't familiar with before, and the content gave me practical insights into how I can align my business practices with institutionalized ethics. It also inspired me to incorporate the trade principles of the Prophet (peace be upon him) into modern-day business dealings. I now feel more confident about conducting business in a way that is both ethical and spiritually grounded.
Really informative course—especially the pillars of ethical business. I learned new terms and now feel more equipped to apply ethical, Prophetic principles to modern business practices.
Gemma Ali
Halal Animal Welfare Association
Mariam Aaras
This course, led by Prof. Dr. Suhaimi Mhd. Sarif, offered an insightful introduction to Islamic Business Halal. A basic understanding of fiqh al-mu'amalat* and fiqh of Aqd proved essential to fully understand its core concepts.
What set the course apart was its strong emphasis on intention (niyyah) and tawakkul. Obedience to Allah also symbolized the key principles:Obey Allah, Build Trust, Embody Ihsan, Do Justice (Adl), Integrate Ethics, Empower Communities, Nurture Sustainability, Commit to Islah, and Exemplify the Sunnah of the Prophet ﷺ.
It highlighted the importance of trust, self-discipline, and accountability — not only in financial dealings but also in ensuring health, safety, and well-being for both consumers and employees.
The course combined foundational knowledge with ethical and spiritual guidance, making it highly valuable for anyone serious about halal business.
Kind regards wa salaam alaikom,
Mariam Aaras, dietician and halal consultant
Voorlichtingsbureau Halalvoeding, The Netherlands
Fayroz Holliday
Today's session was very practical and reiterated the practices we should be applying in our businesses. Prof made the foundations clear on what Shariah compliant contracts should incorporate which are extremely vital to our existence and doing business ethically ALHAMDULILAH
Fayroz Holliday
Halaal Hopper Travel and Taste Experiences, South Africa