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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. Mervyn K. Lewis & Latifa M. Algaoud, 2001. "Islamic Banking," Books, Edward Elgar Publishing, number 1488.
    2. Mervyn K. Lewis, 2001. "Islam and accounting," Accounting Forum, Taylor & Francis Journals, vol. 25(2), pages 103-127, June.
    3. Waris Ali & Jedrzej George Frynas & Zeeshan Mahmood, 2017. "Determinants of Corporate Social Responsibility (CSR) Disclosure in Developed and Developing Countries: A Literature Review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 24(4), pages 273-294, July.
    4. Barry Ackers & Neil Stuart Eccles, 2015. "Mandatory corporate social responsibility assurance practices," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 28(4), pages 515-550, May.
    5. 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.
    6. 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.
    7. Nik Nazli Nik Ahmad, Maliah Sulaiman,and Dodik Siswantoro, 2003. "Corporate Social Responsibility Disclosure In Malaysia: An Analysis Of Annual Reports Of Klse Listed Companies," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 11(1), pages 51-86, June.
    8. Munawar Iqbal & Philip Molyneux, 2005. "Thirty Years of Islamic Banking," Palgrave Macmillan Studies in Banking and Financial Institutions, Palgrave Macmillan, number 978-0-230-50322-9.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Muhammad Hanif & Kiran Zafar, 2020. "Developments in Islamic Finance Literature: Evidence from Specialized Journals التطورات في أدبيات التمويل الإسلامي: أدلة من دوريات متخصصة," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 33(2), pages 3-23, July.
    2. Qaisar Ali, 2018. "Service Quality from Customer Perception: Evidence from Carter Model on Bank Islam Brunei Darussalam (BIBD)," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(2), pages 138-138, January.

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    More about this item

    Keywords

    Corporate social responsibility; Islamic banks; Malaysia; top management;
    All these keywords.

    JEL classification:

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

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