Al-Hijrah: Journal of Islamic Economics and Banking
Vol 2 No 2 (2024): Al-Hijrah: Journal of Islamic Economics and Banking

Family First or Business First? Balancing Family and Business Interests in an Islamic Economic Perspective

Suud Sarim Karimullah (Sekolah Tinggi Ilmu Ekonomi IEU)



Article Info

Publish Date
30 Dec 2024

Abstract

This article aims to prove that Islamic economics can provide holistic solutions that can be applied to achieve a harmonious balance between family and business interests without sacrificing either of them. This study uses a library research method with an integrative and comprehensive literature analysis to develop a solid and applicable theoretical framework. The results state that the balance between family and business in a family business is not just an effort to divide time and roles but a strategic integration that demands a harmonized vision, high professionalism, and strong values of togetherness. Family businesses can develop professionally without sacrificing family ties by building a vision based on Islamic principles, implementing good corporate governance, maintaining open communication, and enforcing strict role boundaries. This strategy makes the family business a space that creates profit and realizes blessings and long-term prosperity. Only with a thorough commitment to these values can a family business become an example of true strength rooted in togetherness and integrity amidst increasingly fierce competition.

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Journal Info

Abbrev

alhijrah

Publisher

Subject

Economics, Econometrics & Finance

Description

Al-Hijrah : Journal of Economis Islamics and Banking a journal that publishes scientific work in the form of articles and as a publisher is the Campus of the Islamic Institute of West Sumatra (IAI SUMBAR) Pariaman. Focus And Aim Journal: Islamic Economics, Sharia Banking, Sharia Management and ...