ABSTRACT
Islamic economic system provides a broad spectrum of business ethics that traders must practice. It is indispensable for a trader to deal admirably with these ethics in business transactions of daily life. This chapter emphasises the important characteristic features of Islamic economic system. Divine guidance educates ethical behaviour through essential principles that are self-determining and free of temporal constraints. The believers must put them into practice, adopting the normative practice of Islam. These essential features and notions include focussing on the positive, adopting the right attitude, showing gratitude through actions, following Divine guidance in wealth acquisition, self-sufficiency, moderation, trust, kindness, corporate social responsibility, and obedience to the Divine commandments. Divine knowledge directs the individual and communal character and instils in us the principles that govern us not only in the domain of economy but also in other domains of daily life. Believers are responsible for conforming with Divine guidance and shaping better society where ethics are maintained and nurtured for a peaceful and prosperous existence.
