Accounting Ethics and Islamic Banking
Free Thesis Statements
Although there is no strictly static set of rules regarding the Sharia or the Islamic laws, it is still considered as the legal basis of all the private and public aspects of life. The systems indicate to serve the humanity and it should be impose on all the routinely activities of an individual which are being influenced by politics, economics, banking, business, family, sexuality, hygiene and the social issues.
The principles of this Islamic law are consistently imposed on Islamic banking. As part of their tradition, the implementation of the entire system prohibits the business organization to commit themselves to unlawful practices. Actually, the Islamic banking still has the concept of an ordinary bank. Except that they have just incorporated the laws of Sharia. However, the banking system is not greatly affected by the incorporation of their tradition, Hence, it triggers more the people to do their duties better.
Moreover, it would be beneficial to apply the study of moral values and judgments to the concepts of accounting. This is what they refer to as the accounting ethics or more or less the professional ethics. It is normal for professionals to have additional moral responsibilities as they are more entitled for big responsibilities and decision making. Also, the professionals should keep their reputations as if it their most important possessions.
In the ethics of accounting, what is important is that the professionals should establish a positive and reliable personality for they are the one that handles the each complicated situations in the business. In relation to the Islamic banking, they have imparted their own beliefs and tradition in their professions so in that way people from other nation may consider them as nation who has unity and perseverance.
Credit:ivythesis.typepad.com
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