Islamic Ethics and Economic Transactions: Attitude of Muslims and Non-Muslims of South Western Nigeria
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Date
2015
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International Journal of Islamic Banking and Finance
Abstract
The six states of South Western Nigeria zone share the same cultural and ethnical background; socioeconomic and religious features are similar. With the advent of Islam (14c), and Christianity (19c), the people of the region gradually gave up their traditional identities such as naming, dressing and transactions for either of the two religions. This paper examines some economic and financial transactions of people of the zone to determine the ratio of Muslim and non-Muslim who conform or otherwise to Islamic ethics and values. The data collected via administration of questionnaire were analysed using simple percentage and frequency count method. The study shows that the number of Muslims (30%) who agree that interested trader of any particular item has freedom of entry and exit in to marketplace without any hindrance from the existing traders is lower than non-Muslims (37%). The Muslims (20%) who disagree are more than the non-Muslims (13%). Majority of Muslims (33%) who agree to sell in double standards is slightly above the non-Muslims (32%), the non- Muslim (17%) are above the Muslim (16%) disagree. Many of the Muslim (28%) and non-Muslims (27%) agree to display their goods without separating between standard and substandard. Some of them (22% and 23% respectively) disagree with the attitude. Most of Muslims (37%) and non-Muslim (36%) see nothing bad selling goods under negotiation by one customer to another especially when the second customer promises to buy the good with higher price. Some Muslims (13%) and non-Muslims (14%) disagree with the opinion. Obviously, many practices in our study areas have conformity to Islamic rules without significant different between the two groups.
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Citation
25. Bello, K. I. (2015): Islamic Ethics and Economic Transactions: Attitude of Muslims and Non-Muslims of South Western Nigeria. International Journal of Islamic Banking and Finance. 32 (3): 77-87,