Introduction

The Malaysian Business Code of Ethics is based on the religious, philosophical and cultural values of the people of Malaysia. The legislation of this Malaysian Business Code of Ethics is based on the teachings of religions, philosophy and tradition of the plural society in Malaysia. It is an initiative by the National Consumer’s Protection Consultative Council and Ministry of Domestic Trade and Consumer Affairs to develop self regulation among traders in Malaysia.


Objectives
The Malaysian Business Code of Ethics was formulated with the objectives of: - .

• Preparing the main principles to be applied by all traders for the benefit of consumers as well as traders.
• Assist traders in practising a high standard of business ethics among themselves to safeguard the interests of all parties in order to bolster the national economic growth.
• Symbolises the universal values gleaned from the doctrines and beliefs of the various religions, philosophies and cultures found within Malaysia.

Principles of the Malaysian Business Code of Ethics

To achieve this means, the National Consumer Advisory Council (MPPN), the Ministry of Domestic Trade, Co-operatives and Consumerism have establish six (6) The Malaysian Business Code of Ethics (Rukun Niaga) as follows: -

• Honesty in Business Dealing 

The businesspersons’ tendency towards honesty including the intent and declaration of the business transaction as well as in his thoughts, action and speech.
For instance: The businessperson should not try to camouflage the defect found on the product for the sake of making a profit. Similarly  he should not deliberately manipulate the supply of an item with undue profit as the motive.

• Responsible Towards Customers, Society and Environment 

Responsible towards the customers, society and the environment for every actions and decisions made.
For instance: Offering products at fair prices and ensuring that  services offered commensurate with the quality of services provided.  It is important that goods or services befittingly sold/offered must not be socially or environmentally detrimental.

• Geniality Towards Fellow Humans 

Compassionate and respectful towards other humans, courteous andgenerous with mutual cooperation. Actions and decisions taken must take into account  the interest of all parties and not solely on the interest of the trader.
For instance: In instances when a customer had made an error purchase, and wishes to exchange it with other items or wants a refund in cash, the trader must accommodate the request to fulfil the social responsibility towards the society as a whole.

• Moderation In Business Dealing 

Adopt a humble, reserved, modest, moderate, charitable approach and be frugal in all areas of life.
For instance: A successful businessperson should be mindful and considerate as well as provide contribution and be supportive to those in need.

• Fair Treatment of Customers 

There should not be double standards and  actions taken must not benefit one party only, equitable treatment irrespective of race, class or status and is not selective of any one side more than the other should be practised.
For instance: A businessperson should not practise discrimination amongst customers, regardless whether the customer isa dignitary or an ordinary person in business practices, as the value of the money is still the same.

• Zeal in Making the Business a Success 

Execute something with tenacity, , diligence, and patience, as well as never giving up, having the courage to take risks and ready to put the utmost efforts to achieve the goals.
For instance: When entering a business field, the businessperson should not be intimidated by existing businesses, what is important is how the success of other businesses could be a motivation for success.