Entrepreneurship and Entrepreneurs in an Islamic Context

Abstract

This paper is a modest contribution to the literature on entrepreneurship and entrepreneurs from an Islamic perspective. Along with debates on the role of religion, and the increasing importance of ethics, social responsibility in modern business, discussing the case of entrepreneurship in an Islamic context is quite opportune. After outlining the foundation of Islamic entrepreneurship, the author then explains the positive features and the applicability. The approach adopts the representation of human beings, mostly by physical and spiritual dimensions, with the latter dimension having a specific interpretation in Islam. The outcome of the analysis is that, subject to good understanding, and correct implementation, principles and rules of Islam offer real possibilities of enhancing various types of businesses. Moreover, that can be possible in a balanced way, i.e., making business profit and at the same time targeting spiritual rewards. Noteworthy, this practice of doing business could help Muslim entrepreneurs avoid deviations from generally agreed business ethics and spirituality, as based on the lastly sent Holy Scriptures.