According to Dr. Refik Beekun, ethics are defined as a set of moral principles that distinguish what is right from wrong, and in an Islamic context, the Qur’anic term khuluq is closest to it. Also, some other terms referenced from Qur’an describing the concept of good are khayr (goodness), birr (rightousness), qist (equity), and ‘adl (equilibrium and justice).
Source: Shikoh, Rafi-Uddin. “Islamic Business Ethics: Book Review.” Dinar Standard. 15 May 2005. 22 Jan. 2006 [http://www.dinarstandard.com/management/EthicsBookReview051505.htm].