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Islamic Entrepreneurship: A Case Study Of Saudi Arabia

Author

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  • RASEM N. KAYED

    (Faculty of Administrative and Financial Sciences, Arab American University, PO Box 240, Jenin — West Bank, Palestine, Israel)

  • M. KABIR HASSAN

    (Department of Economics and Finance, University of New Orleans, New Orleans, LA 70148, USA)

Abstract

As this paper examines the relationship between Islamic values and entrepreneurial activity, it seeks to establish whether these values can be more effectively tapped into to raise the profile of Islamic form of entrepreneurship. A written, self-administered questionnaire among a random sample of Saudi entrepreneurs in the city of Riyadh was employed to generate descriptive data to assess the views and attitudes of Saudi entrepreneurs toward both conventional and Islamic forms of entrepreneurship. We find that Saudi entrepreneurs perceive themselves to be committed Muslims who consider entrepreneurship a religious and economic duty intended to generate halal (lawful) income to meet their financial obligations and to contribute to the falah (well-being) of the Muslim ummah (nation) in this life and hereafter. The findings also negate the prevalent conventional assumption that Islam is intrinsically anti-modernization and anti-development, and that the religiously-based Saudi culture would hinder the emergence and the development of a vibrant entrepreneurship culture in Saudi Arabia.

Suggested Citation

  • Rasem N. Kayed & M. Kabir Hassan, 2010. "Islamic Entrepreneurship: A Case Study Of Saudi Arabia," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 15(04), pages 379-413.
    • Handle: RePEc:wsi:jdexxx:v:15:y:2010:i:04:n:s1084946710001634
    DOI: 10.1142/S1084946710001634
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    References listed on IDEAS

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    1. Leo Paul Dana, 1999. "Entrepreneurship in Pacific Asia," World Scientific Book Chapters, in: Entrepreneurship in Pacific Asia Past, Present and Future, chapter 2, pages 5-9, World Scientific Publishing Co. Pte. Ltd..
    2. Raymond W Y Kao & Kenneth R Kao & Rowland R Kao, 2002. "Entrepreneurism:A Philosophy and A Sensible Alternative for the Market Economy," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number p253, February.
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    Cited by:

    1. Doaa Althalathini & Haya Al-Dajani & Nikolaos Apostolopoulos, 2022. "The Impact of Islamic Feminism in Empowering Women’s Entrepreneurship in Conflict Zones: Evidence from Afghanistan, Iraq and Palestine," Journal of Business Ethics, Springer, vol. 178(1), pages 39-55, June.
    2. Hayfaa A. Tlaiss & Maura McAdam, 2021. "Unexpected Lives: The Intersection of Islam and Arab Women’s Entrepreneurship," Journal of Business Ethics, Springer, vol. 171(2), pages 253-272, June.
    3. Irery L. Melchor-Duran & Allan Villegas-Mateos, 2024. "Comparative Analysis of the Determinants of Entrepreneurial Activities in the Middle East and Latin America," World, MDPI, vol. 5(2), pages 1-19, March.
    4. Asma Ibrahim Alotaibi & Nada Saleh Badawi, 2023. "Emotional Intelligence and Entrepreneurial Success: An Empirical Study of Entrepreneurs in the Saudi Market," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 12, May.
    5. Suheela Shabir & Jabir Ali, 2022. "Determinants of early‐stage entrepreneurship in the Kingdom of Saudi Arabia: Evidence from the Global Entrepreneurship Monitor Database," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(5), pages 1566-1578, July.
    6. Asma Rauf & Yazid Abubakar & Ayesha Abrar & Madiha Gohar & Ly Slesman & Jay Mitra, 2022. "Islam, Entrepreneurship and Economic Development," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 8(2), pages 270-273, July.
    7. Freddie Festo Mawanga, 2017. "Comparison Of Female And Male Youth Characteristics Prior To Entrepreneurial Development: Evidence From Uganda," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 22(01), pages 1-15, March.
    8. Abdul-Rahman, Aisyah & Abdul Latif, Radziah & Muda, Ruhaini & Abdullah, Muhammad Azmi, 2014. "Failure and potential of profit-loss sharing contracts: A perspective of New Institutional, Economic (NIE) Theory," Pacific-Basin Finance Journal, Elsevier, vol. 28(C), pages 136-151.
    9. Farida Mohammed Shehu & Al-Hasan Al-Aidaros, 2015. "Islamic Entrepreneurship in the Light of Maqasid Al-Shari’ah: A Critical Review," Journal of Social and Development Sciences, AMH International, vol. 6(4), pages 6-14.

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