1. Entrepreneurship:
Islamic Entrepreneurship
By
Nur Suhaili Ramli
Auckland, New Zealand
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2. Theories and Concepts:
Entrepreneurship is
an integral parts of
Islamic religion
The Muslim entrepreneurs are ‘khalifah’
and have the responsibilities to develop
prosperity and sees business as part of
‘ibadah’ or good deed.
Motivation – success in Islam is
not merely measured by the end
result but also the way and
means of achieving them.
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3. Theories and Concepts:
In Islam, the activity also known
as Ibadah –or good deed
Position of Entrepreneurship and
business in Islam - encouraged to venture
into business. Prophet Muhammad (PBUH)
expounded that 9 out 10 sources of
sustenance are through business.
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4. Theories and Concepts:
Islamic Economic System - Islamic
Entrepreneurship should operate within the
domain of Islamic Economic system and act
as the vehicle towards global acceptance of
Islamic Economic System.
Guiding Principles of Islamic
Entrepreneurship is by the al
Quran and al-Hadith
Entrepreneurial Ethics based on
exemplary conducts of Prophet
Muhammad (PBUH)
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5. ISLAMIC ENTREPRENEURSHIP AS
INTEGRAL PART OF THE
RELIGION
Islam is a complete way of life. There is no
separation between business and religion.
Islam has its own entrepreneurship
culture and guiding principles based on
the Al-Quran and Hadith to guide business
operation
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6. HUMAN NATURE
(The fitrah of human being)
By virtue of the human nature, the person
must firstly be a Muslim, then an
entrepreneur. He has the responsibility to
perform ‘ibadah’ and be a ‘khalifah’.
Muslim entrepreneur should search for
God’s blessings above all other factors. A
Muslim entrepreneur perform business not
solely for profit, but above all, to fulfill the
‘fardhu kifayah’.
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7. Motivation:
• Most entrepreneurs have the desire to
achieve successful business venture.
• The successful path and means for
achieving success for Muslim
entrepreneurs are unique.
• Success in Islam is not merely
measured by the end result, but also
the means and ways of achieving
them.
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8. SUCCESS FORMULA BY AL-QURTUBI:
Halal – livelihood that are in accordance to
what is being outlined by Allah SWT and
syariah.
Qanaah–be pleased and thankful with one’s
earning
Taufiq-Asking for the blessing of Allah in
proportion to one’s expectation
Sa’adah-Spiritual happiness
Jannah–Worldly success should act as the
bridge to the ultimate success in the life
hereafter (paradise).
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9. Level of Taubat or
Level of Knowledge
repentence
SEVEN STEPS
TOWARDS A
Level of
SUCCESS IN LIFE
Obstacles
Level of ACCORDING TO
Temptation IMAM AL-GHAZALI
Level of Motivation
Level of Handicap
Level of Praise and
Thankfulness
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10. POSSESSION OF WEALTH IS ALLOWED
BASED ON THE FOLLOWING PRINCIPLES:-
• Allah S.W.T is the absolute owner of
wealth
• Allah created wealth in abundance
and sufficient for all
• Wealth is created for mankind
• Wealth is entrusted to mankind
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11. IBADAH
In Islam, involving in
business is part of
ibadah through the
fulfilment of fardhu
kifayah.
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12. POSITION OF BUSINESS AND
ENTREPRENEUR:
ISLAMIC ENTREPRENEURSHIP MODEL
Islam Proposed
(Business Venture)
Allah Prepared
(Facilities)
Islam Outlined
(Rules and Regulation)
Allah Promised
(Reward)
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13. ISLAMIC ECONOMIC SYSTEM:
Islamic Entrepreneurship
should be in the framework of
Islamic Economic System and
should assist in establishing the
Islamic Economic System
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14. GUIDING PRINCIPLES OF ISLAMIC
ENTREPRENEURSHIP:
Guidelines for Islamic
Entrepreneurship and
business activities are wide
and comprehensive based on
Al-Quran and Al-Hadith.
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15. MUSLIM ENTREPRENEURSHIP
ETHICS:
 To prevent laziness
 To eradicate fear
 To search for legitimate ventures
 To avoid forbidden sources of income
and property
 To show gratitude and thankfulness of
whatever has been acquired
 To grow and develop capital and profit
 To diversify business ventures
 To avoid greediness
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16. THE ETHICAL BEHAVIOR OF MUSLIM
ENTREPRENEURSHIP
 To avoid malicious behavior
 To avoid squandering
 To avoid stinginess
 To pay alms (zakat)
 Trustworthy
 To pray consistently
 Tawakkal
 Patience
 Qana’ah
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17. EXEMPLARY CONDUCTS OF GOOD
MUSLIM ENTREPRENEURS DURING THE
PROPHET MUHAMMAD S.A.W REIGN
• Business is secondary when being
called for other form of crusade
• Avoid using influence for self interest
• Afraid of accumulated wealth
• Leadership qualities in all aspects
• Practice moderate way of life
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18. References:
http://wiki.answers.com/Q/Characteristics
_of_Islamic_Entrepreneurship
www.perlis.uitm.edu.my/medec/images/...
/ent300_module01.ppt
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