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Corporate Social Responsibility of Islamic Banks in Malaysia: Arising Issues

Author

Listed:
  • JUSOH, WAN NOOR HAZLINA WAN

    () (Universiti Teknologi MARA (Terengganu))

  • IBRAHIM, UZAIMAH

    () (International Islamic University Malaysia)

Abstract

Corporate social responsibility (CSR) term has rapidly developed and is no longer a strange concept among business communities. As part of business entities and concurrently guided by Sharī‘ah principles, Islamic banks face even more expectations in performing CSR as Islamic financial institutions. On top of that, although Malaysia is at the vanguard in the development of Islamic finance especially in Islamic banking industry, there is a lack of discussion on issues pertaining CSR applications of Islamic banks. Using interview data with top management executives and supported by observations and document reviews, this study attempts to disclose arising issues regarding CSR applications of Islamic banks in Malaysia. It was found that there are significant issues that need to be addressed in order to ensure the efficiency of Islamic banks CSR applications especially regarding corporate social responsibility disclosure (CSRD), CSR department and CSR fund.

Suggested Citation

  • Jusoh, Wan Noor Hazlina Wan & Ibrahim, Uzaimah, 2017. "Corporate Social Responsibility of Islamic Banks in Malaysia: Arising Issues," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 25, pages 155-172.
  • Handle: RePEc:ris:isecst:0163
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    References listed on IDEAS

    as
    1. Asyraf Wajdi Dusuki, 2008. "Understanding the objectives of Islamic banking: a survey of stakeholders' perspectives," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 1(2), pages 132-148, June.
    2. Zakaria Ali Aribi & Thankom Arun, 2015. "Corporate Social Responsibility and Islamic Financial Institutions (IFIs): Management Perceptions from IFIs in Bahrain," Journal of Business Ethics, Springer, vol. 129(4), pages 785-794, July.
    3. Barry Ackers & Neil Stuart Eccles, 2015. "Mandatory corporate social responsibility assurance practices: The case of King III in South Africa," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 28(4), pages 515-550, May.
    4. Farook, Sayd, 2007. "On Corporate Social Responsibility Of Islamic Financial Institutions," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 15, pages 31-46.
    5. Mervyn K. Lewis & Latifa M. Algaoud, 2001. "Islamic Banking," Books, Edward Elgar Publishing, number 1488, December.
    6. Abul Hassan & Hjh Salma Binti Abdul Latiff, 2009. "Corporate social responsibility of Islamic financial institutions and businesses: Optimizing charity value," Humanomics: The International Journal of Systems and Ethics, Emerald Group Publishing, vol. 25(3), pages 177-188, August.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Corporate social responsibility; Islamic banks; Malaysia; top management;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • P43 - Economic Systems - - Other Economic Systems - - - Finance; Public Finance

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