Islamiyat Project BsAF 3 1221

NUML
NATIONAL UNIVERSITY OF MODERN LANGUAGE
Department: Management sciences
Project title: A contemporary world in an Islamic perspective
Full Name: Abdul Hanan
Roll No.: 1221 Section: “A”
Subject: Islamic Studies Date of Submission: 20th November 2023

Table of content:
 Contemporary World in an Islamic Perspective
1) Challenges
 Secularization and Materialism

 Islamophobia and Misrepresentation
 Internal Conflicts and Divisions
2) Opportunities
 Technological Advancements
 Globalization and Interconnectedness
 Growing Interest in Islam
3) Quranic Ayats and Hadith References
 Business and Management Science in Islam
1) Introduction
2) Islamic Principles of Business and Managemen
 Adel (Justice)
 Sidq (Honesty)
 Amanah (Trustworthiness)
 Maslahah (Public Interest)
 Ihsaniyyah (Excellence)
3) Quranic Verses on Business and Management
4) Hadith on Business and Management
5) Implications of Islamic Principles on Business and Management
6) Examples of Islamic Business Practices
 Conclusion
Contemporary World in an Islamic Perspective
In the contemporary world, characterized by rapid technological advancements, globalization,

and interconnectedness, Muslims face a unique set of challenges and opportunities. Islam, as a
comprehensive worldview, provides guidance on navigating these challenges and maximizing
these opportunities.
Challenges:
1. Secularization and Materialism: The dominant Western worldview, with its emphasis
on secularism and materialism, can pose a challenge to Muslim identity and values.
Muslims must remain steadfast in their faith while engaging with the world in a
constructive and meaningful way.
2. Islamophobia and Misrepresentation: Islamophobia, fueled by fear and misinformation,

has led to discrimination and prejudice against Muslims. Muslims must combat these
negative perceptions through education, dialogue, and positive contributions to society.
3. Internal Conflicts and Divisions: Political conflicts and sectarian divisions within the
Muslim world have resulted in instability and suffering. Muslims must strive for unity
and cooperation based on shared Islamic principles.
Opportunities
1. Technological Advancements: Technological advancements can be used to promote

Islamic education, outreach, and social development. Muslims should seize the
opportunities presented by technology to strengthen their communities and share their
message with the world.
2. Globalization and Interconnectedness: Globalization provides a platform for Muslims

to connect with people from diverse backgrounds and cultures. Muslims should use this
opportunity to promote understanding, tolerance, and mutual respect.
3. Growing Interest in Islam: There is a growing interest in Islam among non-Muslims,

seeking spirituality and meaning in life. Muslims should engage with these seekers in
a welcoming and informative manner, providing accurate information about Islam and
its values.
Quranic Ayats and Hadith References
• Quran 2:185: “O you who have believed, be steadfast in your faith and enjoin
righteousness and be not influenced by the evil-doers.
• Quran 49:13: “O mankind, indeed We have created you from male and female
and made you peoples and tribes that you may know one another. Indeed, the
most noble of you in the sight of Allah is the most righteous of you. Indeed,
Allah is Knowing and Acquainted.”
• Hadith: “The world is a prison for the believer and a paradise for the
unbeliever.” (Sahih al-Bukhari)
Business and Management Science in Islam:
Introduction
Islam, as a comprehensive religion encompassing all aspects of human life, provides valuable
guidance on business and management practices. Islamic principles emphasize fairness,
honesty, social responsibility, and ethical conduct in all aspects of commerce. The Quran and
the Hadith, the primary sources of Islamic jurisprudence, offer numerous insights into
conducting business in a manner that aligns with Islamic principles.
Islamic Principles of Business and Management:
The Quran and the Hadith lay out several fundamental principles that guide business and
management practices in Islam. These principles include:
1. Adil (Justice): Fairness and impartiality in all dealings, including contracts, pricing, and
dispute resolution.
2. Sidq (Honesty): Truthfulness and transparency in all communications and transactions
3. Amanah (Trustworthiness): Fulfilling obligations and commitments, safeguarding

assets, and avoiding conflicts of interest.
4. Maslahah (Public Interest): Striving for the overall well-being of society and avoiding
actions that harm others.
5. Ihsaniyyah (Excellence): Pursuing excellence in all endeavors, seeking continuous

improvement, and striving to make a positive impact on the world.
Quranic Verses on Business and Management:
The Quran provides numerous verses that offer guidance on business and management
practices. Some notable examples include:
1. ”O you who have believed, fulfill your contracts.” (Quran 5:1)
2. ”O you who have believed, do not consume one another’s wealth unjustly.” (Quran
4:32)
3. ”O you who have believed, when you enter into a contract with obligation, fulfill it.”
(Quran 5:1)
4. ”O you who have believed, do not enter into forbidden dealings.” (Quran 2:275)
5. ”O you who have believed, eat from what is lawful and good.” (Quran 5:88)
Hadith on Business and Management:
The Hadith, the sayings and actions of Prophet Muhammad (PBUH), provide further guidance
on business and management practices. Some notable examples include:
1. ”The truthful merchant is close to being a prophet.”
2. ”A seller should not exaggerate or make false claims.”
3. ”A buyer should not inquire about the defects of a product if the seller has not
mentioned them.
4. ”A loan should be repaid promptly.”
5. ”A business should be conducted with honesty and integrity.”
Implications of Islamic Principles on Business and Management

The application of Islamic principles to business and management practices has significant
implications for both individuals and organizations. For individuals, it promotes ethical
conduct, fairness, and social responsibility. For organizations, it fosters a culture of trust,
transparency, and long-term sustainability.
Examples of Islamic Business Practices
Numerous examples of Islamic business practices can be found across various industries and
sectors. These practices often incorporate principles such as:
1. Fair trade practices
2. Transparent pricing and disclosure
3. Ethical investment and financing
4. Social responsibility initiatives
5. Workplace practices that promote employee well-being and dignity
Conclusion:
In conclusion, Islam provides a comprehensive framework for navigating the challenges and
opportunities of the contemporary world. By adhering to Islamic principles of fairness, honesty,
social responsibility, and ethical conduct, Muslims can contribute to a more just, equitable, and
prosperous society. As globalization and interconnectedness continue to shape the world,
Muslims have a vital role to play in promoting understanding, tolerance, and mutual respect
among diverse cultures and communities. By embracing their faith and engaging with the world
in a constructive and meaningful way, Muslims can make a positive impact on the world stage.

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NUML

NATIONAL UNIVERSITY OF MODERN LANGUAGE

Department: Management sciences

Project title: A contemporary world in an Islamic perspective

Full Name: Abdul Hanan

Roll No.: 1221 Section: “A”

Subject: Islamic Studies Date of Submission: 20th November 2023

 Contemporary World in an Islamic Perspective

 Secularization and Materialism

3) Quranic Ayats and Hadith References

 Business and Management Science in Islam

2) Islamic Principles of Business and Managemen

3) Quranic Verses on Business and Management

4) Hadith on Business and Management

5) Implications of Islamic Principles on Business and Management

6) Examples of Islamic Business Practices

In the contemporary world, characterized by rapid technological advancements, globalization,

2. Islamophobia and Misrepresentation: Islamophobia, fueled by fear and misinformation,

1. Technological Advancements: Technological advancements can be used to promote

2. Globalization and Interconnectedness: Globalization provides a platform for Muslims

3. Growing Interest in Islam: There is a growing interest in Islam among non-Muslims,

Business and Management Science in Islam:

Islamic Principles of Business and Management:

2. Sidq (Honesty): Truthfulness and transparency in all communications and transactions

3. Amanah (Trustworthiness): Fulfilling obligations and commitments, safeguarding

5. Ihsaniyyah (Excellence): Pursuing excellence in all endeavors, seeking continuous

Quranic Verses on Business and Management:

1. ”O you who have believed, fulfill your contracts.” (Quran 5:1)

Hadith on Business and Management:

1. ”The truthful merchant is close to being a prophet.”

2. ”A seller should not exaggerate or make false claims.”

4. ”A loan should be repaid promptly.”

5. ”A business should be conducted with honesty and integrity.”

Implications of Islamic Principles on Business and Management

Examples of Islamic Business Practices

1. Fair trade practices

2. Transparent pricing and disclosure

3. Ethical investment and financing

4. Social responsibility initiatives

5. Workplace practices that promote employee well-being and dignity

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