International Companies which Meet Criteria of Sharia Islamic Law - Term Paper Example

NUANC Communication Nuanc communication is an American company which is dealing with the business of computer software technology. This is an international company which has businesses all over the world. They provide speech and imaging applications and have products which help in better communication. They have telephone directory service, medical transcription software, optical character recognition software and desktop imaging software. This company is screened with criteria of Sharia Islamic law. The Sharia law only accept businesses which are Halal means compliant. Any business with alcohol, Tobacco, gambling, pornography, pork, conventional financial service, defence and advertisement is termed as non – compliant. This company deal with technology and it is something which helps people in communication and business progression. The company has an education and medical purpose and hence it is compliant with Shariah law. The company has no other activities which are prohibited by the Sharia Law. The technology and communication companies are encouraged by Sharia as it is highly resourceful for people in global development. The company is not engaging in any banking activities or mortgage business which is against the Sharia law. This law prohibits Riba, which means interest earned on investment and hence the company looks justifiable from such perspectives. So the company is a Sharia compliant company. NVIDIA CORP NVIDIA Corporation is a company based in America which deals in manufacturing of graphic processing unit. They manufacture semi conductors, video games and consumer electronics. This company was founded in 1993 and does business on worldwide basis. This company is related to products like computer technologies, media player and software. This company is working in accordance with Shari law as they deal with technological products. There is no illegal activity or interest earned in this business which need caution. The company does not engage is software production itself but only provides accessory for the same. The company is highly useful in software production and also enable tablet and laptop manufacturing. The computes are a highly beneficial technological gadget and are used in many areas like business, education, medical field, entertainment and government service. In reality, there is no field which does not use computer in its working. So the importance of this company is huge and hence Sharia law values such companies. Also the company produces graphic processing unit for video gaming. This means is the company is useful in entertainment area because video is popular worldwide among kids and adults. So the company is useful for society and it is compliant to Shari laws. NXP Semi Conductors NXP Semi Conductors is a company based in Netherlands which was founded in 2006. The company deals in manufacturing and distribution of semi conductors and this is used in wide business arenas. They work in more than 25 countries worldwide and supply chip sets for mobile industry and also used in passport applications. The micro chip produced by the company is used in public transport system, wireless lighting technology, sound devices and automotives. This company from the perspective of its product is Sharia law compliant. Since the company contributes largely to the economic development of a country it upholds Islamic values. As per Bilal (1999,pg.83) “Islamic finance professionals are currently examining products such as tradable instruments (otherthan stocks), partnership structures, and others. At the same time, it is becoming equally important to review various shells or organizational structures that would support the development of such new products efficiently”. In Sharia, any business which promotes the world development and assists people in growing their social environment is a productive company and this company is compliant one according to Shariah law. The company has no indulgence in interest earning and has no involvement with pornography or advertisement business. O’Reilly Automotive corporation This company is a based in America and has business in all states of the country. They are selling auto parts and is operating on national level. This company works for the social needs of people as it provide spare parts for automobiles. Automobiles are an integral part of people lives and hence it is a sharia compliant company. As per Jamaldeen (2014 ) “A Muslim needs to consider society in general when enjoying Allah's bounties. These considerations include promoting justice in all economic activities, remembering that all people have mutual responsibility for all others, and using the earth's resources wisely”. The business activities of this company are within the parameters of Sharia law. They have no activities which earn interest or activities which violate Islamic religious principles. The company works in a free market economy and where supply and demand is decided by the market. This means the economic transaction of the company is not violating Sharial law. The company is highly beneficial for society in general. The auto parts are not harming human beings and are an essential commodity in the market. Since automobile is a product compliant to sharia law this company fit well with the Islamic laws. PAYCHEX Inc. Paychex is a company which provides human resource solution, pay roll service and insurance solutions to companies. This company is based in New York and operates all around America. This company provides human resource solution which is not against sharial law. Same is the case with payroll service as it is an aid to business firms on a large scale. However this company is non – compliant according to sharia law because it provides insurance solution. Insurance solution service means giving advice to clients regarding insurance schemes. In sharia law, Insurance is completely prohibited as it deals with insuring life, property and health with money. As per Huda ( 2013) “Under common interpretations of Islamic law, conventional insurance is forbidden in Islam. Many criticise the system of conventional insurance as exploitative and unjust. They point out that paying money for something, with no guarantee of benefit, involves high ambiguity and risk”.One pays into the program, but may or may not need to receive compensation from the program, which could be considered a form of gambling”. The insurance has many elements which are against Sharia law like insuring life and property, interest benefits and gambling elements. So this company is non – compliant according to Sharial law. PACCAR Inc Paccar incorporation is a large company and is based in America. This company deal with manufacturing of medium and heavy duty trucks and has various subsidiaries throughout the world. This company is manufacturing trucks which are an essential vehicle in an economy. Many essential commodities are transported in trucks and it is needed for human survival. Hence this company falls within the parameters of Sharia law. The company does not deal with activities which help business to service. The company helps in truck manufacturing which is central to economy and business. Any company which serves society is agreeable with Islamic law. The company is a leading one and provides good salary and allowances to employees and does not violate Islamic law. The company does not deal with any products which are against Islamic law. The company has no gambling or illegal activities and hence the company is acceptable when it comes to Sharia law. It is questionable regarding the use of trucks to transport many products which may not be acceptable by sharia law. However, this does not come under the control of the company and hence the company is compliant to Sharia Law. Anything which is outside the control of company is not its responsibility. Priceline.com Priceline .com is website which offers discount for airline tickets and hotel stay. This company is based in Connecticut , USA and offer services to people worldwide through their website. This company is completely non – compliant to Shari laws. There are many reasons to conclude that his company is 100% against sharia law. The company deals business services for airline and hotel industry. Airline and hotel both has many activities which are against sharia laws. First if we look at airline industry, they sell alcohol and pork. These both are condemned by sharia law and thus the company is non – compliant to Islamic laws. The company also indulges in hotel industry as it provides hotel room reservation at cheaper rate. In hotels many activities takes place which are against Islamic laws. Firstly, hotels serve alcohol and tobacco which means the company is helping people to indulge in the same. Secondly the company serves pork which is completely non – agreeable in sharia law. Thirdly, many hotels indulge in prostitution related activities and even gambling, fourthly, hotels may provide pornographic television programs which are against Islam. From all these angles this company is non – compliant with Sharia law. PETSMART Inc. PETSMART Incorporation is a company which sells pets and products related to them. The company is based in America and sells various types of pets. They have dogs, birds, fishes, cats, reptile and other small animals like rodents. They also sell pet foods and other accessories to people worldwide. This company does not satisy Shari law because it sells dog. The sharia law condemns keeping dogs as pet at home or any other place. The religion is completely against contact with dogs hence this company is not legal according to Shari law. Even some other animals listed here may not be eligible to be kept as pet according to sharia law. As per Huda (2013) “Many Muslims base the prohibition against keeping a dog in one's home, except for the case of working or service dogs, on these traditions”. Islam is not agreeable regarding keeping animals or birds in home as we are restricting their freedom. In Islam animals need to be given freedom as they are creation of God. Especially dog and pig are despised by Islamic laws and hence this company is completely against Sharia law. This company is in some way violating the rights of animals and this is not acceptable by Islamic laws. PANERA BREADS PANERA BREADS is a chain of bakeries and restaurant working in United States and Canada. This chain has headquarters in America, St.Louis and was founded in 1981. This company sells many food items in their chains restaurants and bakeries. This includes bread, bagels, sandwiches, salads, soups muffins tea, and coffee. As we know in Western countries, especially in America pork is a meat in many eatables. In food items like sandwiches, salads, soups there is essentially inclusion of pork. For this reason, this company can no way be in compliance with Sharia law. The consumption or touching pig is against Islamic religious laws. According toWhy Muslims (2011 ) “The prohibition of pork in Islam is derived from the following verse of the Glorious Qur’an:“Forbidden to you (for food) are: dead meat, blood, the flesh of swine, and that on which hath been invoked the name of other than Allah” This café has baguettes and sandwiches with pork meat and its highly popular among its consumers. Since pork meat is forbidden this company cannot comply with Sharia laws. The Muslims are not even supposed to work in any organization which has business with pork meat. So it is reasonable to treat this company as non – complaint to Sharia law. QUALCOMM INC QUALCOMM Incorporation is an American company which deals in semi conductor business. The company does manufacturing and distribution of semi conductors and this is used in many business fields. This company has business on worldwide basis and supply semi conductors for mobile and radio service industry. This company aids in wireless technology, GPS system, sound devices and software companies This Company from the perspective of its product is Shariah law compliant. Since the company contributes largely to the economic development of a country it upholds Islamic values. The company is highly focused on cellular communication which is potential in this global world. At the same time, it is becoming equally important to review various products the company distributes worldwide. The company gives technical support the developmental assistance for new products. In sharpie law, any business which promotes the world and assists people in growing their social environment is a productive company and this company is compliant one according to Sarah law. Communication is integral to business and world interaction and hence this company is essential for social development. The company has no indulgence in interest earning and has no involvement with pornography or advertising business. References Bilal, G, 1999. Business Organizations under Islamic Law. Business Organizations under Islamic Law, 3/1, 83-89. Huda. 2013. What do Muslims believe about insurance?. [ONLINE] Available at: http://islam.about.com/od/business/f/insurancefaq.htm. [Accessed 26 April 14]. Huda. 2013. Dogs in Islam. [ONLINE] Available at: http://islam.about.com/od/islamsays/ a/Dogs-In-Islam.htm. [Accessed 26 April 14]. Jamaldeen.F. 2014. Key Sharia Principles and Prohibitions in Islamic Finance. [ONLINE] Available at: http://www.dummies.com/how-to/content/key-sharia-principles-and-prohibitions-in-islamic-.navId-403553.html. [Accessed 26 April 14]. Why Muslims. 2011. Why do Muslims Abstain from Pork?. [ONLINE] Available at: http://www.whyislam.org/faqs/restrictions-in-islam/why-do-muslims-abstain-from-pork/. [Accessed 26 April 14]. Read More