Sharia Oikonomia Law Journal
Vol. 2 No. 3 (2024)

The Impact of Islamic Business Ethics on Multinational Corporate Practices

Haruni Ode (Universitas Muhammadiyah Luwuk Banggai)
Faisal Razak (Universiti Utara)
Nurul Huda (Universiti Malaya)



Article Info

Publish Date
06 Dec 2024

Abstract

It is important to understand the role and influence of Islamic business ethics on the actions of multinational corporations (MNCs) in an increasingly connected world. The question of how Islamic values and principles can influence business decisions has become a subject of great concern in the era of globalization that presents increasingly complex ethical challenges for multinational companies. This study aims to learn more about how Islamic business ethics affect the operations of multinational companies. This study not only seeks the immediate results of implementing Islamic principles in business decision-making, but also examines its long-term effects on corporate reputation, stakeholder relations, and operational sustainability. Literature analysis, case studies, and interviews with stakeholders in multinational companies implementing Islamic business ethics policies. This method allows researchers to gain a broad understanding of how these principles are applied in the daily life of the company and how various parties interact with the policy. Research shows that implementing Islamic business ethics in the practices of multinational companies can have significant effects, from increasing stakeholder trust and loyalty to improving financial performance and corporate reputation. This study finds that ethical principles are very important in business decision making, especially for multinational companies that have influence around the world. MNCs can use the integration of Islamic business ethics to gain competitive advantage and build a strong foundation for the growth and development of more just and sustainable societies around the world.

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Journal Info

Abbrev

solj

Publisher

Subject

Description

The Sharia Oikonomia Law Journal explores various aspects of Sharia economic law and the evolving economic challenges. Its primary focus includes the impact of digital transformation on Islamic finance, such as fintech and blockchain, as well as the role of Sharia financial instruments (zakat, waqf, ...