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Corporate Governance and Corporate Social Responsibility in Financial Institutions: Evidence from Islamic Banks

In: Corporate Governance and Corporate Social Responsibility Emerging Markets Focus

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  • Hisham Farag

Abstract

Islamic banks play a significant role in the financial sector in a number of emerging markets especially countries with a large Muslim population. The objectives of Islamic banks are fundamentally different from those of conventional banks. While conventional banks seek to maximize their shareholders wealth, Islamic banks primarily strive to achieve a balance between providing sufficient Shari'ah compliant returns and their social responsibilities to various stakeholders. Moreover, Islamic banks are characterized by multiple agency relationships. I analyze the corporate governance characteristics of a sample of Islamic banks in six emerging countries and their corporate social responsibility (CSR) as these two aspects are increasingly related. I identify areas of interest through mini case studies and examples. Finally, I conclude by considering the likely future development of corporate governance and CSR in Islamic banks in emerging markets.

Suggested Citation

  • Hisham Farag, 2014. "Corporate Governance and Corporate Social Responsibility in Financial Institutions: Evidence from Islamic Banks," World Scientific Book Chapters, in: Sabri Boubaker & Duc Khuong Nguyen (ed.), Corporate Governance and Corporate Social Responsibility Emerging Markets Focus, chapter 15, pages 405-436, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814520386_0015
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    Cited by:

    1. Muhammad Bilal Zafar & Ahmad Azam Sulaiman, 2019. "Corporate social responsibility and Islamic banks: a systematic literature review," Management Review Quarterly, Springer, vol. 69(2), pages 159-206, June.

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