Islamic Perspective on Business Education - Professor A.N.M. Nurul Karim

Introduction

In the modern world, the field of business and economics education has expanded significantly. Since the beginning of human history, one of the most prominent discussions has been how buyers can acquire goods and services in the right quantity, at the right time, and at a fair price from producers. The process of how a producer delivers their goods to the buyer, maintains stock for non-production periods, and distributes goods from one place to another is a key element of business. Additionally, activities such as marketing, raising awareness among buyers, gathering market information, raising capital, and investment are recognized as essential aspects of business today. Therefore, most countries give significant importance to business education in their curricula, and it is crucial for everyone to have a clear understanding of the necessity of business education. Along with this, we must also have a clear understanding of the Islamic perspective.

The Creator of the universe, Almighty Allah, has provided a model for life through His prophets, and this is Islam. The guidance that began with Prophet Adam (AS) was completed with Prophet Muhammad (SAW), which is Islam. A society where the majority of people follow Islamic principles is known as a Muslim society. When such a society formulates its education system, it must naturally be based on the fundamental principles of Islamic ideology. Islam provides important guidelines for all aspects of human life. Though the detailed instructions of Islam on various aspects of life are determined through consensus (Ijma) and analogy (Qiyas), the ultimate goal of human life in Islam is to achieve the pleasure of Allah through servitude to Him. Therefore, any education system developed for a Muslim society, whether it is general, technical, or business-related, must retain the Islamic viewpoint. Moreover, in any Muslim country, this perspective should serve as the fundamental guideline for the entire educational system.

A Problem

In our society, business education is often perceived as a purely materialistic education. It is not considered to have any connection with ethics, morality, religion, character, or justice. Since this education deals with the production, distribution, and consumption of goods in human society, it is thought to have no link with ethical values or ideals. However, this is a misconception about Islam. Since Islam is a complete way of life and governs every aspect of life, the fundamental perspective of the education system in a Muslim society must be derived from Islamic ideology. The justice, fairness, idealism, and moral values of Islam can bring about prosperity in every sphere of life, both in this world and the hereafter. The concept of worship or servitude in Islam is not limited to a few rituals; it extends to every aspect of life. If the business community conducts trade and commerce within the limits set by Islam and continually strives to earn "halal" (lawful) sustenance, then all their business activities will be considered acts of worship in the eyes of Islam. Therefore, the business-related education system can also be Islamized, bringing peace and prosperity through the ethical standards of Islam in business.

Objectives of the Curriculum

Any educational curriculum is designed with certain fundamental objectives in mind, and the individuals who emerge from this system strive to implement these objectives. In our current situation, there are several objectives behind business education. These objectives are the basis for the formulation of the business syllabus. The purpose of the current business education in our country is to create a workforce that can facilitate the production, distribution, and consumption of goods and services under the present system. From this perspective, we need a clear definition of business: "Commerce is the sum total of all those activities which are connected with the removal of hindrance of time, place, and persons." From an Islamic perspective, the objective of business education is to ensure that all activities related to buying, selling, distributing, and consuming goods are carried out in accordance with the laws of Shariah. By adhering to the Islamic principles regarding the transportation of goods from one place to another, selling them from one person or group to another, or holding back produced goods to avoid price drops, Islamic trade and commerce can be established.

Therefore, the objectives of business education from an Islamic perspective are as follows:

1. To simplify the distribution of goods through trade and ensure that people can easily access essential items for their daily lives.

2. To prevent monopolistic profits during the distribution and exchange of goods.

3. To avoid all forms of injustice such as usury, bribery, and corruption in the distribution system.

4. To implement a fair measurement system in distribution and to discourage hoarding, profiteering, and black market activities.

5. To encourage sellers to fulfill the rights of buyers and vice versa.

6. To raise awareness about the permissibility (halal) and impermissibility (haram) of goods.

The Importance of Trade and Commerce in Islam

When developing a curriculum on trade and commerce, it is crucial for our educational planners to understand the significance of trade in Islam. Among the various ways of earning wealth, trade is one of the most important. Islam places immense emphasis on it.

The Holy Qur'an says:
فَإِذَا قُضِيَتِ الصَّلَوةُ فَانْتَشِرُوا فِي الْأَرْضِ وَابْتَغُوا مِنْ فَضْلِ اللَّهِ
"Once the prayer is concluded, disperse throughout the land and seek the bounty of Allah (wealth and resources)." (Surah Al-Jumu'ah)

In another verse, the Qur'an states:
يَأَيُّهَا الَّذِينَ آمَنُوا لَا تَأكُلُوا اَمْوَالَكُمْ بَيْنَكُم بِالْبَاطِلِ إِلَّا أَنْ تَكُونَ تِجَارَةً عَنْ تَرَاضٍ بَيْنَكُمْ
"O believers! Do not consume each other’s wealth unjustly, but only through lawful trade conducted by mutual consent." (Surah An-Nisa)

The Prophet Muhammad (PBUH) encouraged Muslims to engage in trade and highlighted the special status of honest, trustworthy, and just traders in Islamic society. In Tirmidhi, it is mentioned:
التَّاجِرُ الصَّدِيقُ الْآمِينُ مَعَ النَّبِيِّينَ وَالصِّدِّيقِينَ وَالشُّهَدَاءِ
"The truthful, honest, and trustworthy trader will be among the Prophets, the truthful, and the martyrs."

The Prophet (PBUH) also said:
تسُعَةُ أَعْشَارِ الرِّزْقِ فِي التِّجَارَةِ
"Nine-tenths of sustenance lies in trade."

In the Islamic economics book Kanzul Ummal, it is written:
لَوْ لَا هَذِهِ الْبُيُوعُ لَصِرْتُمْ عَالَةٌ عَلَى النَّاسِ
"If not for trade, your lives would be unbearable, and you would become a burden on others."

The Qur'an further states:
اَحَلَّ اللهُ الْبَيْعَ وَحَرَّمَ الرِّبوا
"Allah has permitted trade and prohibited usury." (Surah Al-Baqarah)

Principles of Islamic Business Education

Islamic business education must follow some additional fundamental principles beyond those of a general education system. These principles serve as the foundation upon which Islamic business education should be built. The key principles are as follows:

1. It should help society earn a lawful livelihood. It must be based on the halal (permissible) methods prescribed by Islam and avoid haram (forbidden) methods.

2. It should discourage interest-based transactions and usury, instead promoting trade based on mutual profit and loss, attracting the attention of traders and the public.

3. It should ensure transparency and fairness in all dealings, ensuring there is no fraud in measurements or quantities.

4. It should not support hoarding, profiteering, or excessive stockpiling beyond business necessities. Unnecessary stockpiling must be discouraged.

5. It must oppose all haram practices, irregularities, and unethical activities in trade. Such actions should be declared unlawful (haram).

6. It should encourage ethical behavior and help instill a sense of business morality among traders.

7. It should build the curriculum on the Islamic principles of Muzarabah and Mudarabah or their modern equivalents in trade.

8. It should inspire students towards the ultimate goal of life, which is to submit to Allah's will and earn His pleasure. The curriculum should be designed with the underlying idea that our existence in this world is a test, and we must pass this test.

The Current State of Business Education in Bangladesh

Like in developed countries, there is ongoing emphasis on business education in Bangladesh. After the partition of the Indian subcontinent into two independent countries in 1947, business education began to enter the educational system of this region. In the early days, universities in this country used to offer M.A. (Commerce) degrees, where half of the syllabus was focused on business education, and the other half on economics. Later, various universities in the country started offering M.Com degrees in Accounting and Management.

At present, Dhaka University offers Master's degrees in four fields of commerce: Accounting, Management, Finance, and Marketing. Rajshahi and Chittagong Universities are also in the process of introducing courses in Finance and Marketing alongside Accounting and Management. In addition, public and private colleges and universities are offering B.Com (Pass) degrees under their affiliations. Universities are also offering B.Com (Honors) and M.Com (Preliminary) degrees. Furthermore, the secondary school certificate and higher secondary levels also include business education in various forms. Since the 1960s, business education at the secondary school certificate level has been recognized as a distinct group. This shows a trend that, with the increasing production of goods and the growing diverse needs of people, the scope of business education will continue to expand.

However, the objectives outlined by the Education Commission report do not seem fully aligned with the broader social goals we aspire to achieve through business education. The determination of these objectives does not reflect respect for the beliefs, moral values, and life goals of the majority of the country's population. Therefore, the purpose of business education needs to be reconsidered.

From the perspective of the principles and characteristics of Islamic business education that have been discussed, it is evident that the current state of business education in Bangladesh cannot be termed "ideal." Our business education system seems completely unaware of the concept of "legitimate livelihood." Although it enables earning an income, there is no concern over whether this income is "halal" (permissible) or "haram" (forbidden). The curriculum does not declare interest-based transactions or usury as unlawful. Rather, it focuses on how business practices can be embellished and expanded in various ways, despite interest-based dealings being wholly avoidable from an idealistic standpoint.

Our business education curriculum, though generally critical of dishonesty in financial dealings and trade, does not emphasize the strict, unwavering stance required to combat such unethical practices. The curriculum has also failed to instill in students a strong aversion to hoarding, profiteering, or excessive stockpiling. Furthermore, it has not proven effective in controlling unethical and haram (forbidden) practices in business and commerce.

The curriculum remains completely silent on business ethics, even though ethical conduct is of paramount importance in business. It takes a neutral stance on this matter, failing to integrate the objectives of business education with the ultimate goals of life. As a result, business education is not contributing to the fulfillment of life’s higher purpose. Many individuals pursuing business education today have become negligent regarding life’s ultimate goals and have begun viewing life from a more materialistic perspective, making it difficult to connect religious values with business practices. In this way, contemporary business education has failed to reflect the life values of the larger population. Instead of aligning with the life goals of the majority, it has diverged entirely, necessitating an urgent change.

Conclusion

In this discussion, I have refrained from addressing other aspects and have focused on reviewing our current business education system solely from an idealistic viewpoint. The analysis has been made with a focus on fundamental principles and structural aspects. Given more time and space, a more detailed analysis, including subject-specific discussions, could be carried out. There is a pressing need for more effective thinking on business and commerce. We can derive a fundamental structure for our education system, including business education, based on the life values and culture of the larger population of the country. This structure could guide the development of a comprehensive business education curriculum that addresses contemporary needs and public demands while also assisting individuals in achieving life’s higher purpose.

For those who want to advance with this perspective on business education, they must pay special attention to the following aspects:

1. Acquiring a comprehensive understanding of Islamic ideals, especially those related to trade and commerce.

2. Reviewing the background, evolution, and current state of modern business practices.

3. Studying the policies adopted in various Muslim countries regarding this matter.

4. Gaining an understanding of how these principles are applied in practical business life.

It is important to remember that neither the principles nor business education can operate fully in a non-Islamic societal structure. Therefore, efforts to establish an Islamic society and introduce Islamic business education must go hand in hand. Another critical point to keep in mind is that the idea of fully developing the curriculum before implementing it must change. If the principles are recognized, developing the syllabus will not be an issue. Official recognition is needed beforehand. Therefore, it is essential for scholars qualified in Islamic ideology and modern business to develop a business education curriculum based on the Qur'an and Hadith and implement it simultaneously. This need will encourage our youth to take a greater interest in the complete Islamic principles of business education.

Bibliography:

1. The Organization of Commerce: Dr. M. Habibullah, Dean, Faculty of Commerce and Management, University of Dhaka, Dhaka.

2. Education and Ideology: Dr. Hasan Zaman.

3. Islamic Economics: Maulana Abdur Rahim.

4. Principles of Islamic Education: Khurshid Ahmad, Director, Islamic Foundation, Leicester, UK.

5. Islamic Education System: Maulana Syed Abul A'la Maududi.

Author: The writer is a former Chairman, Department of Management, University of Chittagong.