Abstract:

The article introduces the sources of Muslim ethics and how is it shaping the system of Islamic accounting and the ethical behavior of accountants. Due to the dynamic development of the Muslim finance sector in Europe, as a result of socio-cultural changes observed in recent years, European business entities are increasingly having the opportunity to cooperate with contractors and services of the Islamic financial sector. Cultural differences are an increasingly important factor to be taken into account in running a business. There were a reference literature and Qur’an used for qualitative analysis. The analysis indicates that although the scope of ethical codes in Muslim and non-Muslim countries is very similar, in the case of Islam its message is strengthened by religion being a source of law as well as professional ethics. It means that the legal sanctions envisaged for breaking the rules are joined by the fear of being excluded from the community and losing opportunities for salvation. Since knowledge about Islam is still fairly limited in Central Europe, the article can fulfill an informative role, allowing to realize the reasons for some differences and their importance in perceiving ethical issues and the way of doing business in different cultural circles.