Recently,
in Nigeria there were pros and cons about the Islamic Business Ethic. Islamic
banks use interest-free or remove interest rate (Riba’) since it is forbidden in Islam and replace it with certain
modes of finance that is acceptable in Islam. Somehow, this policy makes some
misunderstanding among Nigerians.
As
a nation, Nigeria comprises people with different religions. The practice of
governance secular system in this country makes all the economic institutions
and organization to be secular in nature. However, some of these institutions
and organizations in their intent and operational guidelines share some
similarities with Islamic business ethics. There are some institutions such as
National Agency for Food and Drug Administration and Control (NAFDAC), Consumer
Protection Council (CPC), Standards Organization of Nigeria (SON).
There
are some purposes of these organizations that are same with Hisbah in Islam. First is establishing of
standard or measure of quality of products. Second is controlling
of harmful products in the public. Third is ensuring correct information about
the products. Fourth is controlling of arbitrary treatment of
consumers. Fifth is checking and mitigating cheating and
fraud in business transactions and Sixth is ensuring the
safety of the general public from consumption of adulterated goods.
Therefore
Islamic Business Ethics must be accepted since nobody want to be exploited or
dealt unfairly and unjustily.
Source : Hussaini Aliero, Ibrahim ; Bello Sokoto,
Abubakar (2016) : “Analysis of the Relevance of Islamic Business Ethics to the
Nigerian Economy”, Journal of Islamic Studies and Culture, June, p. 30-35
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