Islam in Business Essay Example | Topics and Well Written Essays - 3000 words

Islam in Business - Essay Example Fiqh muamalt is the study of financial and economic transactions from an Islamic outlook which is a branch of Islamic jurisprudence that is related with commerce and residual economic activities. For Islamic economic concepts, Arabic phrases are employed and shariah compliant financial products are very popular in the Islamic business circle. Shariah offers guiding norms for day-to-day living for a Muslim but following the same is a matter of belief and conscience and not of enforcement by governments. In the majority of the Islamic nations, Islamic banking is only a matter of preference and the only Muslim country in the World, i.e. Iran has made rules that all banks must adhere with fiqh muamalt under Usury Free Banking Law that was introduced in 1983. Fatwa refers to the rulings given by Shariah scholars and these are given through reasoning by scholars and endeavoring to apply fiqh to present financial and economic transactions and this process is known as ijtihad and in real pra ctice, this needs interpretation of contractual deeds concerning financial transactions and economic activities and making sure that it is unfailing with shariah. (Wilson 177). This research essay dwells into how Islamic practices apply in business, economics and banking (commercialism, profiteering, loans & interest, partnerships, etc) and how Islam dictates one conducts oneself in business in a detailed manner. Islam and Business Muslims are permitted to engross in trade and business as long as it is lawful and not detrimental to either society or the economy. Islam also permits to acquire wealth through business and however, a Muslim should not have any pride in his wealth. Further, in Islam, greed and miserliness are regarded as sins. A Muslim is considered to be only a temporary guardian of any wealth that he acquires as all wealth is the belongings of Allah. Islam expects that business is run on the moral principle, and it shuns fraud, dishonesty, misrepresentation and deceit in business. Dealing in illegal goods (haram) is prohibited in Islam. Islam also prohibits lotteries. Gambling and business linked with distribution and sale of alcohol. The following are some of the prohibited business activities under Islam. Price manipulation Price gouging and Hoarding by artificially reducing supply of products, especially food products. Government price control initiatives except in some unavoidable scenarios. Interference in the free markets Buying stolen property Cultivating plants like hashish and poppy and raising pigs. Business profits that are generated through halal (legal) business activities are permitted and not any haram (illegal) business activities. A Muslim is needed to respect his business debts. (Khan 1999). The fundamental principle is that Muslims are permitted to purchase whatever he needs like products that Allah has allowed from both Muslims and kaafirs. It is to be noted that Allah himself purchased products from the Jews. However, if a Mu slim avoids purchasing goods from another Muslim for no good reason like bad products, high prices or deceit goods , then that will be considered as harram. Doing business with Kaffirs mean reducing business with the Muslim and thereby obstructing Muslims to sell their products or to make the success in their business efforts. (Abdul -Rahman 7). The one who proscribes the goods of the Kuffaar mean that they are waging an endless war with the Islam, intending thereby to manifest the truth

Personal And Professional Development Essay Example | Topics and Well Written Essays - 1750 words

Personal And Professional Development - Essay Example Trainings, workshops, and observations, in addition to other professional development activities, help educator’s enhance their own teaching skills. This enables new and veteran teachers alike to be able to take their teaching to an entirely new level. Professional development involves not only the learning of new instructional methodologies and strategies, but they also enable individuals to keep up to date with new technology that can be effectively implemented into today’s modern classroom. In today’s rapidly advancing and globally progressive world, it is more important than ever that teacher’s today strive to grow professionally in their own right, so that they can foster the continued growth of their own student’s as well. 2. Learning-Environment Observation Studies Gaining the confidence required to be an effective teacher can often come by observing others in action. In so doing, the mentality shifts from one of trepidation to one of accompl ishment. As we see others performing duties well, we begin to feel that we can do the same. This involves observing multiple disciplines to gain a solid overview about the teaching styles evident in the classroom that both promote and foster an environment conducive to the learning process. It is also important to observe others as a means of teacher development. Rossner (1992) argues that, â€Å"Teacher development is not just to do with language or even teaching: it’s also about language development, counselling skills, assertiveness training, confidence building, computing, meditation, cultural broadening – almost anything in fact† (p. 4). Teaching is about much more than communicating facts and figures to young people. It is... This report stresses that professional development can help a new teacher grow in his or her abilities, in addition to leading to an increase in self-confidence. As a new educator in the second year of a teacher-training program, it is important to understand this process begins now. The prospect of entering a class of bright, young, and energetic students without any proper training or observations under my belt would be quite frightening indeed. This paper makes a conclusion that as has been demonstrated to this point, this module has instilled in this student the importance that personal and professional development has on the life of an educator. Teachers must be willing to constantly grow into their profession. New teachers have the responsibility to observe, learn theory, implement methodologies, and adapt to an increasingly technological and globally connected world. Teaching is a serious profession. Young people only possess a limited amount of time to acquire all of the skills and training that are necessary for themselves to enter into society as productive members, so teachers must work hard to ensure that this transition is as effective as possible. This begins with a thorough understanding of what it takes to be an educator, transcends into the role of counsellor and mediator, and continues to the role of life-long learning. In the end, teaching is a most rewarding profession, but also one that requires a great de al of foresight and perseverance.