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Maximizing Business Profit: A Perspective from Islamic Economic Law

Author

Listed:
  • Firdaus, Muhammad Irkham

    (Universitas Darussalam Gontor)

  • Nasution, Saepul

    (UniversitiIslam Sultan Sharif Ali, Brunai Darussalam)

  • Sup, Devid Frastiawan Amir

    (Universitas Darussalam Gontor)

Abstract

Profit is the main goal taken by businessmen. The amount of profit earned is used as a measuring tool to evaluate the success of a business, so the profit earned must be higher than the cost of production. Nevertheless, there are business actors who take profits that are too large to be detrimental to consumers, so it is necessary to have a good profit standard, where the profits taken still benefit the businessman and not harm the consumer. So the profit taken must be fair and balanced with the cost of production taken. One of the characteristics of a capitalist economy is to minimize capital and obtain maximum profit. Whereas in Islamic economics the profit taken must be fair according to the capital issued. Islam is not specified, but a good profit does not exceed one -third of the capital. The concept of the goal of falah in Islamic business is problematic, and the ultimate goal is the good of the world and the hereafter. In this paper, we will discuss the law of maximizing business profits in Islamic Economic Law, as well as explain the concept of profit taking in Islam.

Suggested Citation

  • Firdaus, Muhammad Irkham & Nasution, Saepul & Sup, Devid Frastiawan Amir, 2023. "Maximizing Business Profit: A Perspective from Islamic Economic Law," EkBis: Jurnal Ekonomi dan Bisnis, UIN Sunan Kalijaga Yogyakarta, vol. 7(1), pages 44-53, June.
  • Handle: RePEc:ris:ekbisj:1614
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    More about this item

    Keywords

    Maximization; Profit; Law; Islamic Economics;
    All these keywords.

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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