Corporate Social Responsibility: An Islamic Perspective

Elasrag, Hussein (2015): Corporate Social Responsibility: An Islamic Perspective. Published in: CreateSpace Independent Publishing Platform

Abstract

Islam provides a basis and guideline for living one’s life. Within this, there is a very detailed concept of ethical and social behaviour which allows us to deduce that the concept of social responsibility automatically has a role in Islam. This is a critical point that must be firstly understood as the role of moral ethics has been underpinned in Islam for over 1400 years whilst the concept of CSR remains relatively new for businesses today. The scope of this book is to briefly outline some of the major aspects of Islam which give consideration for businesses and their push towards Corporate Social Responsibility. It considers the belief system of Islam and how this belief has a significant underpinning of social behaviour

• Item Type: MPRA Paper
• Language: English
• Keywords: Islam, Corporate Social Responsibility, Islamic perspective
• Subjects: D - Microeconomics > D2 - Production and Organizations > D21 - Firm Behavior: Theory; G - Financial Economics > G2 - Financial Institutions and Services; G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages; L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L22 - Firm Organization and Market Structure; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M0 - General; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration > M14 - Corporate Culture ; Diversity ; Social Responsibility

References

AAOIFI. (n.d.). Governance Standard for Islamic Financial Institutions No. 7 Corporate Social Responsibility Conduct and isclosure for Islamic Financial Institutions: Accounting and Auditing Organization For Islamic Financial Institutions (AAOIFI).

Ali Aribi, Z., & Gopinath Arun, T. (2012). Corporate Social Responsibility in Islamic Financial Institutions (IFI): A Management Insight. Available at SSRN 2052635.

Allen&OveryLLP. (2009). Islamic microfinance report for institutions offering Islamic financial services.

Arsad, S., Ahmad, R., Fisol, W. N. M., Said, R., & Haji-Othman, Y. (2015). Maqasid Shariah in Corporate Social Responsibility of Shari’ah Compliant Companies. Research Journal of Finance and Accounting, 6(6), 239-247.

Ayub, M. (2009). Understanding Islamic Finance: Wiley.

Brown, D. (2013). Corporate social responsibility. (A Senior Thesis submitted in partial fulfillment of the requirements for graduation in the Honors Program), Liberty University.

Dewar, J., & Hussain, M. M. (2011). ISLAMIC PROJECT FINANCE.

In J. Dewar (Ed.), International Project Finance: Law and Practice: OUP Oxford.

Farook , S. (2007). On corporate social responsibility of Islamic financial institutions. Islamic Economic Studies, 15(1), 31-46.

Friedman, M. (1962, 1982). Capitalism and freedom. United States of America: University of Chicago press.

Friedman, M. (September 13, 1970). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.

Haniffa, R., & Hudaib, M. (2007). Exploring the ethical identity of Islamic banks via communication in annual reports. Journal of Business Ethics, 76(1), 97-116.

Hassan, A., & Latiff, S. B. A. (2009). Corporate social responsibility of Islamic financial institutions and businesses: Optimizing charity value. Humanomics, 25(3), 177-188.

Hidayati, N. D. (2011). Pattern of corporate social responsibility programs: a case study. Social Responsibility Journal, 7(1), 104-117.

Hossain, M. T. B., & Siwar, C. (2009). A Comparative Analysis Between Islamic Concept On Corporate Social Responsibility And Malaysia Mangers Opinion. Management of Environmental Quality: An International Journal, 20(3), 290-298.

Jamali, D., & Mirshak, R. (2007). Corporate social responsibility (CSR): theory and practice in a developing country context. Journal of Business Ethics, 72(3), 243-262.

Maali, B., Casson, P., & Napier, C. (2006). Social reporting by Islamic banks. Abacus, 42(2), 266-289.

Mohammed, J. A. (2007). Corporate social responsibility in Islam. Auckland University of Technology.

Mohammed, J. A. (2013). AN ISLAMIC PERSPECTIVE OF CORPORATE SOCIAL RESPONSIBILITY. The Global Conference on Business, Economics and Social Sciences Research (GBSR ).

Moon, J. (2011). Corporate Social Responsibility. Manchester Business School.

Othman, A., & Mia, B. (2008). Corporate social responsibility for solving the housing problem for the poor in South Africa. Journal of Engineering, Design and Technology, 6(3), 237-257.

Othman, A. A. E. (2009). Corporate social responsibility of architectural design firms towards a sustainable built environment in South Africa. Architectural Engineering and Design Management, 5(1-2), 36-45.

Radwa, S. (2011). Corporate Social Responsibility in Islamic Law: Labor and Employment. Yonsei Law Journal, 2(1), 65-92.

Shamim, M., & Karim, N. (2010). Corporate Social Responsibility: Contemporary Thought and Islamic Perspectives. Thoughts on Economics, 21(1), 45-66.

Tanimoto, K. (2007). Corporate social responsibility and public policy. Paper presented at the ADBI CONFERENCE: ENHANCING CORPORATE SOCIAL RESPONSIBILITY IN ASIA.

Uusmani, M. T. (2002). An introduction to Islamic finance (Vol. 20): Brill. Wajdi Dusuki, A. (2008). What does Islam say about corporate social responsibility? Review of Islamic Economics, 12(1), 5-28.

Zain, M. M., Darus, F., Yusoff, H., Amran, A., Fauzi, H., Purwanto, Y., & Naim, D. M. A. (2014). Corporate ibadah: an Islamic Perspective of Corporate Social Responsibility. Middle-East Journal of Scientific Research, 22(2), 225-232.

UK Essays. Corporate Social Responsibility [Internet]. November 2013. [Accessed 10 July 2014]; Available from: http://www.ukessays.com/dissertations/sociology/corporate-socialresponsibility. php?cref=1.

UK Essays. Corporate Social Responsibility [Internet]. November 2013. [Accessed 10 July 2014]; Available from: http://www.ukessays.com/dissertations/management/corporatesocial- responsibility.php?cref=1.

Essays, UK. (November 2013). The Concept Of Corporate Social Responsibility Csr Shareholders Essay. Retrieved from http://www.ukessays.com/essays/business-stakeholders/theconcept- of-corporate-social-responsibility-csr-shareholdersCorporate social responsibility:An Islamic Perspective essay.php?cref=1