Limited desires, unlimited resources

Hussain Mohi ud Din Qadri

International trade rules and regulations and different business models

are under the process of evolution. Societies with different cultural and
civilisational backgrounds are out in the run for earning maximum profits
by designing new business rules every now and then. This explains the
permeation of materialistic forces in societies. Islam is the only religion
whose trade laws, which were formulated some l400 years ago, cannot be
altered. These principles would continue to guide man till the Day of
Judgement. Any state and society could reach the apex of growth and
prosperity by following these principles. Before we dilate on the Islamic
business system, it is in fitness of things to look at the prevailing
conditions for an objective assessment.
Today western businessman, western corporate world, organisations and
policies happen to be our role model. The western world put forward a
new system after it managed to achieve unbelievable successes in the
economic domain with the result that the rest of the world was left with
no option but to follow the Western model as a means for sustainable
growth. Even Islamic countries, which are supposed to implement Islamic
system, are tied to the apron-strings of western economic model. There is
a dominant feeling within the Muslim elites that either Islam is unable to
respond to complex contemporary challenges in the fields of economics
and trade or its economic concepts are outdated. Both of these
perceptions are incorrect. The fact is that the spirit of the Islamic
economic model has not been understood. To cap it all, the Islamic
economic system has not been codified in the modern jargon and there is
acute dearth of presentable research work on it.
History bears witness to the fact that about 800 years ago when the
western world did not know how to live a decent life, the Muslim in Spain
prided itself on vast material progress in multiple fields. Their success
emanated from practical implementation of economic and business model
designed by the Holy Prophet (PBUH). China is moving ahead with this
cost efficient model but it has become more of a copy cat thing, which has
never been able to become superpower.
Undoubtedly, there is a need of mentioning other models besides the
Islamic one, which receded into background with the passage of time.
One such model was Relativism. This model did not urge people to follow
pre-determined principles. Rather they were required to do whatever they
thought was correct. Thus no system could be put in place with the result
that society rejected it. Utilitarianism replaced Relativism.
Utilitarianism weighed human actions on the touchstone of pain and
pleasure. Whatever constituted pleasure was good and hence acceptable
even though it may be morally wrong. Universalism was the third model,
which preferred good intentions rather than factoring process and final
outcome into account. Islam recommends the totality of intention, action
and result or outcome and then passes judgement about its being fair or
foul. Thus this model of Universalism does not resemble the Islamic
business doctrine.
The fourth model hinges on the idea of Distributive Justice, which is closer
to the Islamic system of trade and is in operation in a number of countries
including Pakistan. But it has not been implemented with its spirit since it
hinders the maximisation of profits. This system talks of the rights of
employer and employee both. Capitalist system and socialist economy are
both alien to the Islamic trade system. While the former protects the
rights of the employer or those having means of production, the latter
fully recommends and guards dictatorship of the proletariat. Both systems
are poised on extremes.
Moderation is an important plank of the Islamic system. Distributive
Justice ensures apportioning of rewards to both employer and employee
without causing loss to one at the cost of the other. Islam protects rights
of the individual if these rights do not encroach on the rights of society.
Islam does not favour the quantitative democracy. Rather, it puts
emphasis on qualitative democracy.
It is necessary for the promotion of Islamic business ethics at corporate
level that a position of moral advocate is created tasked with the
responsibility of promoting and projecting excellence of trade morality and
good attitude in the entire organisation. The company owner could also be
a moral advocate. Difference could only be made and felt if the employer
or CEO practised these golden principles of honesty and propriety. The
right of the customer is the duty of the employer in the Islamic system of
trade. The customer right includes product quality and cost efficiency.
Islam talks of cost and time efficiency not for company but for customer.
West reached this conclusion after years of experiments but Islam
designed these rules 1400 years ago. The Western Business Model is
based on limited resources and unlimited desires, whereas the beauty of
the Islamic Business Model is that it is based on limited desires and
unlimited resources. Who can defeat such a society, which endeavours for
acquisition of unlimited resources but makes sure to limit its desire?
If this Islamic model is implemented, the country and industry would
grow and the poor would have share in the economic benefits leading
them to make their mark in life and live honourably in society. The
Islamic economic model discourages concentration of wealth in a few
hands. It is in favour of establishing welfare state where economic rights
of all and sundry are protected. If the Muslim business class adopts
honesty the concept of limited desires and unlimited resources as a
driving force behind their business pursuits, there is no reason why the
Muslim community cannot reach the top.