Doing business the Islamic way is an honourable practice, said President of Wargamas Association (WEB) Haji Abu Bakar bin Haji Mohammad Don.
“If business dealings go against the teachings of Islam, these are not righteous acts, but invite harm,” he said during a recent dialogue session between the association’s Economic Bureau and shareholders, at the Brunei Industrial Development Authority (BINA) hall in Gadong.
The business arm of WEB was established in 2019 and has yet to yield results and is creating anxiety for investors, he said.
There are several issues and challenges to be addressed such as management, location, provision of service, staff and lack of promotion.
Prior to this, WEB was involved in operating car washes, convenience stores and food trucks. Measures are being taken through consultations to step up on business, which include examining new business sites and discussing ideas such as establishing monthly market stalls and a cube store. Plans are also in the works to ink a collaboration with strategic partners.
Haji Abu Bakar also urged Economic Bureau members and shareholders to be cautious in forging new business partner and to analyse their capabilities, skills, models before setting up a business plan, in addition to assessing their financial capabilities and cash flow.