The spiritual beliefs of a society are often so powerful that they transcend other cultural aspects. Religion commonly underlies both moral and economic norms. In the United States, the effects of religion in the workplace are limited (other than a generalized belief in hard work, which stems from the Protestant work ethic), whereas in other countries religious beliefs and practices often influence everyday business transactions and on-the-job behaviors. For example, in a longstanding tradition based on the Qur'an and the sayings of Muhammad, Arabs consult with senior members of the ruling families or the community regarding business decisions. Hindus, Buddhists, and some Muslims believe in the concept of destiny, or fate. In Islamic countries, the idea of inshallah, that is, God willing, prevails. In some Western countries, religious organizations, such as the Roman Catholic Church, play a major cultural role through moral and political influence.
One of the ways that the Islamic faith affects the operations of international firms involves the charging of interest:
The kingdom of Saudi Arabia observes Sharia, which is Islamic law
based on both the Qur'an and the Hadith-the traditions of the Prophet Muhammad. Under these codes, interest is banned, arid both the giver and the taker of interest are equally damned. This means that the modern Western banking system is technically illegal. A debate has begun on the interpretation of the concept of interest. The kingdom's religious scholars, the ulema, view all interest, or rib'a, as banned. Some have challenged that interpretation as too restrictive, however, and have called for a more liberal interpretation. Their view is that Muhammad referred only to excessive interest when he condemned usury. Should something come of this debate, it would help establish a legal framework for dealing with Saudi Arabia's banking problems, such as steep drops in profits, and end the legal limbo of Western-style banking in the kingdom.
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