Imam al Ghazali, the great 12th-century theologian, jurist and mystic, differentiates between those who conduct business with justice and those who go beyond that and strive for excellence.
He proposes 6 ways we can sell with ethics and spirituality:
🟣 Don’t praise your product more than it deserves.
This would be misrepresentation and deception. Be honest - although there is no harm in being charming, warm and friendly, that’s part of being good at business.
🟣 Do not conceal any defects in your products
If you have issues with your product, state them and let your customer know that you are working on fixing it.
“Whenever he displays the best side of the cloth or shows it in a dimly lighted place so that it will appear better (than it is), or displays the better of a pair of shoes or stockings, he is a tyrant and a scoundrel.”
🟣 Do not provide less than what you’ve been paid for
We would do well to apply the phrase “underpromise and overdeliver,” in our businesses.
Imam al Ghazali expands on this:
“It was the custom of the forefathers that when they received, they would accept half a grain less and when they gave, they would give half a grain more.
They would say: “The half-grain is a veil between us and hell,” for they feared they could not measure accurately. And they would say: “The person is a fool who would sell Paradise, with a breadth many times greater than the seven heavens and earth, for half a grain!”
🟣 Taking advantage of people’s lack of knowledge of the market
The Prophet Muhammad ﷺ prohibited intercepting caravans before they reach the market.
This practice involves a buyer going out to meet a caravan that is bringing goods to the market, and buying those goods at a lower price by concealing the actual market rates in the city. This is deceptive because the seller in the caravan is unaware of the true value of their goods in the city's market.
🟣 Cancel a transaction if one has second thoughts after buying it
Imam al Ghazali says this isn’t obligatory, but it’s a highly ethical thing to do. In today’s terms, this could be creating adequate time for a refund period. The point here is that if someone feels dissatisfied or uncomfortable with their decision, you should not look the other way.
🟣 Selling to the poor on credit
In other words, if someone can’t afford something, give them time to pay. Don’t demand the payment, especially if they are not well-to-do and with little means.
If the debtor dies, forgive the debt.
Imam al Ghazali said that virtuous entrepreneurs don’t even keep a log of transactions where the poor owe them money, and getting payment from them should be considered a bonus.
Source: On Earning a Living and Trade
[via Omar DaCosta-Shahid on LinkedIn]
Islamic Marketplace
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2024-07-24 22:18:07
Author Public Key
npub1kppw9a5asyvz4c35d0kh8gzulvlealcyw28u0f2mau8n6auna84sdyf9y3Published at
2024-07-24 22:18:07Event JSON
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"content": "Imam al Ghazali, the great 12th-century theologian, jurist and mystic, differentiates between those who conduct business with justice and those who go beyond that and strive for excellence. \n\nHe proposes 6 ways we can sell with ethics and spirituality: \n\n\n🟣 Don’t praise your product more than it deserves. \n\nThis would be misrepresentation and deception. Be honest - although there is no harm in being charming, warm and friendly, that’s part of being good at business. \n\n🟣 Do not conceal any defects in your products \n\n If you have issues with your product, state them and let your customer know that you are working on fixing it. \n\n“Whenever he displays the best side of the cloth or shows it in a dimly lighted place so that it will appear better (than it is), or displays the better of a pair of shoes or stockings, he is a tyrant and a scoundrel.”\n\n🟣 Do not provide less than what you’ve been paid for \n\nWe would do well to apply the phrase “underpromise and overdeliver,” in our businesses. \n\nImam al Ghazali expands on this: \n\n“It was the custom of the forefathers that when they received, they would accept half a grain less and when they gave, they would give half a grain more. \n\nThey would say: “The half-grain is a veil between us and hell,” for they feared they could not measure accurately. And they would say: “The person is a fool who would sell Paradise, with a breadth many times greater than the seven heavens and earth, for half a grain!”\n\n🟣 Taking advantage of people’s lack of knowledge of the market \n\nThe Prophet Muhammad ﷺ prohibited intercepting caravans before they reach the market. \n\nThis practice involves a buyer going out to meet a caravan that is bringing goods to the market, and buying those goods at a lower price by concealing the actual market rates in the city. This is deceptive because the seller in the caravan is unaware of the true value of their goods in the city's market.\n\n🟣 Cancel a transaction if one has second thoughts after buying it\n\nImam al Ghazali says this isn’t obligatory, but it’s a highly ethical thing to do. In today’s terms, this could be creating adequate time for a refund period. The point here is that if someone feels dissatisfied or uncomfortable with their decision, you should not look the other way. \n\n\n🟣 Selling to the poor on credit \n\nIn other words, if someone can’t afford something, give them time to pay. Don’t demand the payment, especially if they are not well-to-do and with little means. \n\nIf the debtor dies, forgive the debt. \n\nImam al Ghazali said that virtuous entrepreneurs don’t even keep a log of transactions where the poor owe them money, and getting payment from them should be considered a bonus. \n\nSource: On Earning a Living and Trade \n\n[via Omar DaCosta-Shahid on LinkedIn]\n",
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