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DOCUMENT

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Abstract
This study examines the performances of corporate social
responsibility in Islamic banks by using selected papers and previous
research. As for Islamic business ethics, corporate social
responsibility (CSR) of Islamic financial institutions should be
considered as an advantage and assistance instead of a cost. This
study also extends the theory of Carroll (1979) using an operational
definition of CSR that encircles the economic and ethics dimensions
of CSR from an Islamic institutions 1. CSR framework conjectures that

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[ employees , ]

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synapse.koreamed.org/DOIx.php?id=10.4082/kjfm.2016.37

[ an Islamic or the Islamic ]

[ effects

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[ abide

there are two layers of CSR involvement in Islamic banks. The upper
layer convinces the commitment towards Allah s.w.t by accomplishing
under Islamic Sharia. The second one provides assurance towards
customers, employees 2 and society. Islamic banks are becoming
customer centric due to the competition with conventional banks.
Nevertheless, the primary essence which is the first layer is still being
taken care.
Keywords: corporate social responsibility, Islamic banks

Corporate Social Responsibility of Islamic Banks


Objective
This study aims to evaluate the relationship of 3 Islamic 4 bank and
CSR performance. It is is a conceptual probation to review on how
Islamic principles of Islamic bank can effects 5 the implementation of
CSR. The religious characteristics that acted as a foundation for the
establishment of Islamic banking are expecting to have an influence

effect ]

on corporate social responsibility. 6 Consequently, this analysing


analyse the appropriate literature and enhance the conjunction
between both Islamic bank concept and CSR. Thus, the concept of
Islamic bank that abide 7 with religious provision should illustrate

abides ]

[ proactive, ]

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more proactive 8 and enthusiastic CSR activity and policies compare

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[ proactive, ]

[ acquires

than conventional banks.


Introduction
Islamic banking has grown rapidly and persistent since its beginning
in the mid-1970s. The industry has increasingly acquires 9 a
persuasive slice of the global financial market. According to the

acquired ]

Banker, global Islamic assets held by commercial banks exceeded US


$1.8 trillion in 2013. Hence, Islamic banking was introduced as an
alternative to conventional banking. On the other hand, Islamic banks
have 11 a strong responsibility to society, to establish a fair distribution
of income, justice in the economy, and efficient capital mobilisation. 10

10

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[ banks have

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[ 90s

the 90s ]

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[ are

is ]

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[ of business

15

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www.referenceforbusiness.com/management/Comp-De/C

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[ is deeply imprints

The collapse of Enron and other accounting frauds showed that

banks have ]

business standards need to be brought parallel with ethical


considerations. These requirements apparently advocate that Islamic
banks should exhibit a strong fundamental sense of social
responsibility towards society.

Literature Review
The concept of CSR has received considerable attention in recent
decades. In the 1980s and 1990s, CSR literature focused on
corporate engagement in social responsibilities from a business
perspective(Adnan Khurshid, Al-Aali, Ali Soliman, & Mohamad Amin,
2014). Since particularly in the past decade of 90s 12, research has
focused on important stakeholder perspective and the drivers of
CSR(Adnan Khurshid et al., 2014). Alternatively, (Adnan Khurshid et
al., 2014) defined CSR based on organization's operation that are 13
conducted for the benefit society, as "the social responsibility of
business 14 includes the economic, legal, ethical, and discretionary
expectations that society has of organizations at a given point in
time 15". Islam provides a complete code of behaviour for it embraces
every aspect of life. CSR is therefore not isolated in the Islamic view

of business ]

and is one of the main concepts in Islamic teaching. Dusuki and


Abdullah (2007b) stated that the concept of CSR is deeply 16, 17, 18
imprints in the Sharia. Therefore any corporation such as an Islamic

18

[ deeply

deep ]

is deeply imprinted ]

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deeply
deep ]
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than by envy, backbiting 23 and discrimination. These principles

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[ backbiting, ]

should naturally being 24 implemented in business activities and in 25

24

[ being

relationships with all stakeholders. Islamic economics is considered

25

[ and in ]

26

[ to entirely submit

27

[ creator ultimate

ultimate creator ]

Islamic banks are not free to do anything as they want, instead 28, 29

28

[ want , instead

want . Instead ]

they have to relate moral values and ethics in their works. Secondly,

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[ instead

30

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[ a society or the society ]

bank that claims to 19 be ruled by Sharia based on principles should


practise CSR, as it dedicates Islam's true attitude. The establishment
of Islamic banks was due to a criticism of conventional banks charging
interest on their banking activities. The practice of interest has been
reported to have a negative effect on the development of the 20 socioeconomic system (Basah & Yusuf, 2013). Chong and Liu (2010) state
that the prohibition of interest or riba in Islam can be 21, 22 seen as part
of Islam's general vision of the moral economy. According to (Adnan
Khurshid et al., 2014), the relationship with God is motivated by the
principles of truthfulness, fairness, kindness, and uprightness rather

be ]

by its practitioners to be ethical (akhlaqi), godly (rabbani), humane


(insani), and balanced (wasati)(Mansour, Ben Jedidia, & Majdoub,
2015).
Discussion and Recommendation
Therefore, the primary responsibility of Islamic banks is to entirely

to submit entirely ]

submit 26 to Allah SWT by rigidly accomplishing under Sharia. They


should satisfy customers and other related stakeholders for the
satisfaction of Allah SWT. Hence, Islamic bank's commitment and
conscience towards society are greater than conventional banks for
the three main reasons. Firstly, an Islamic bank has a certain
philosophical mission to achieve. According to Islamic principles,
Allah is the creator ultimate 27 owner of all resources. Humans and
institutions have a substantial role to play in society. Therefore,
instead, ]

an Islamic bank has to accommodate credit to those who have talent


and competence, thereby empower and build up the economic
foundations of society. Last but not least, an Islamic bank should aim
to bring into being harmony in society 31 based on the Islamic concept
of sharing and caring in 30 consideration to achieve economic,
financial and political stability and security.

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