Societies are built upon higher ethical principles that shape the collective attitude of a nation and influence all aspects of life. These higher principle are most often than not derived from the established philosophies, religions and worldviews. This paper discusses the relevance of Islamic Ethics to the modern society and suggests that it has an integral role to play in shaping the value system of our societies. It explores the objectives, meanings, varied understandings, and possible applications of key concepts in Islam, such as, Sharīʿah, Fiqh, Fatwa, Qanun, Taṣawwuf and ʿādāt in the modern society.