The Need for Ethics In Global Commerce.

[Complete Lecture; by Dr. Hassan Mohiuddin Qadri at the World Halal Summit 2015]
Dr. Hassan Mohiuddin Qadri Qadri initiated his lecture by thanking the organizers of the summit, followed by an elaboration on the importance of the subject under discussion. Dr. Hassan said that ethics is defined as a set of moral principles which distinguishes what is right from what is wrong, it evaluates human practices by calling upon moral standards. He also said that experts in the field of business ethics define ethics as, the matter of choosing right from wrong while conducting business dealing in trade and economic matters at large. Dr. Hassan also mentioned that a company’s code of ethics written or unwritten can guide can guide the individuals within the company.
He said that, it should be also kept in mind that ethical behavior should not be confused with legal behavior as something may not be against the law but at the same time may be unethical. Business ethics in modern and secular society could be described from two different vantage points the share holder position and the stake holders position, share holder is defined as the person who has a direct interest in the business venture in relation to the product and profit of the business, ethical values to the share holder won’t matter as the aim for that person will be what is best for the business and return is in the form of monetary Stake holder will focus of employees requirement customer requirement, vendor requirement government agency and for the community at large so thus it should be decided what is for the betterment of a society and community.
Dr. Hassan further elaborated on the above mentioned in detailed by putting forward a case study and examining its aspects in detail. Dr. Hassan Qadri also explained the ethical values laid down by the Quran and deriving the moral and ethical principles from the text being quoted by him, He said that the Islamic teaching strong and fully stress upon the observance of ethical and moral code in human behavior , practices and life. A companion asked the Prophet (PBUH) what source of gain is the best, He (PBUH) replied; a man’s work via his own hands is the best. The Prophet (PBUH) said; leave that what makes you doubt for that which does not make you doubt. Dr Hassan quoted another in which the prophet (PBUH) said that “A time will come upon the people, when they will not care via which source and status they are gaining their earnings from.
Dr. Hassan also said that the principles of truthfulness and trade though mutual consent have been stressed upon via Islamic teachings via quoting various Islamic texts.