Malaysian minister proposes enforcement of Islamic business ethics

Islamic business ethics are to be introduced to instill healthy business culture among traders, Malaysian domestic trade and consumer affairs minister Tan Sri Muhyiddin Yassin was quoted by his country's news agency "Bernama" as saying Thursday.

He said the ethics were important to ensure businesses were conducted without of cheating and customers were satisfied with the deals.

"Laws may not be necessary if traders are honest, have ethics and gave importance to the quality of goods sold to consumers," he told reporters after opening a seminar.

Muhyiddin announced that a seminar on Islamic business ethics would be held in Kuala Lumpur next month with participation of religious scholars well-versed in Islamic business methods, corporate leaders and intellectuals.

So far, Malaysia had no specific act on deceitful trade dealings and asked consumers to report to the authorities doubtful businesses.

Muhyiddin called for more consumer clubs to inform populations on the actual prices of essential items besides identifying premises offering low and high prices.

He also urged consumers to take advantage of the Consumers' Tribunal to fight for their rights and claim compensation if they had been cheated by traders.