Corporate Social Responsibility Of Islamic Banks

In Islam, God, grants human rights and therefore they can never be taken away or changed, for any reason. As a result, these concepts are part of the way Islamic individuals are portrayed in society. Every Muslim is required to accept them and recognize the people's right to have them enforced and obeyed. Islam allows complete freedom of thought and expression, provided that it does not involve spreading anything that is harmful to individuals and the society at large. The value of the community and society as a whole is greatly emphasized in Islamic traditions, as the common wealth of the society is important. This in turn reflects on society, because in Islamic culture, it is important to act in a lawful way as it is entrenched not only in their Muslim religion but in their general lifestyle as well. These factors greatly affect society because their customs, traditions and beliefs are embedded in their laws and individuals must act accordingly.

Development of products which are first compliant of Sharia and not customer centric. Assumes that Muslim population will grow.

Since 1998, Bank of America has become one of the most successful financial institutions in the industry. With the mission to “make financial lives better, through the power of every connection”, Bank of America has operated its business align with its purpose. While assisting its clients understand their money, the company also put on a lot of effort on helping the communities by executing Corporate Social Responsibility (CSR). It is undeniable that the company has successfully addressed many critical problems in the environmental, social and economics arenas, as it continually receive awards and recognitions for its CSR efforts.

| The discussion is focused on the topic with ample evidence from the literature. The literature is critiqued. (21.5-25)

A. the literature review provided articles that were relevant and a number of relevant studies and theories were described throughout the study.

The author’s present important and substantial findings from prior studies and literature reviews. The information and data offered was comprehensive and well-supported, it was clear that the authors had conducted a thorough

Age of the sources. The significant literature will be reviewed. Sources from the last five years, 2012- 2017, will be

o Review of related literature: In what ways does the literature review support the need for this study?

Islam is more than a religion, it’s a culture, and as such has an effect on political, social, and economic aspects of life—this is especially true outside of the Western world. Followers of Islam believe in full submission to God and this submission is practiced in the secular realm (Taha, 114). Of the five pillars of Islam, one (the zakat) has a direct affect on economic policy and ethics. The culture of Islam has shaped economic and business guidelines In the Islamic World and continues to do so. Cultural ideals attributed to the Qur’an or the Prophet Muhammad, have been a vital source for economic and business practices that have helped to shape the history of many Islamic nations, and are guiding the creation of policies

What is corporate social responsibility, and how it really is in Iran? Basically, due to several problems the country has been afflicted by during recent 3 decades, country’s economy and business is suffering from an unhealthy infrastructure and undesirable business atmosphere, so the struggling private business in Iran, has not been really engaged with the CSR. However, efforts have been made by international communities and domestic stakeholders to propagate the concept among the emerging generation of modern business owners, but it is sure far from what it should be.

A rule making body issues authorative shari’a auditing standards for all Islamic banks and other Islamic businesses and it will be the most effective way to eliminate problems within the Islamic economy. The most effort to develop a body of consistent standards for shari’a audits has been undertaken by

In my report I will briefly mention about the CSR of Emirates Airline, Firstly CSR is very important for every company these days to achieve success in sustainable society and to stay in humans mind.

Becoming an expert in Islamic economics and finance field is one of my long-term goals in life. I started to organize and made a plan towards achieving that dream since senior high school. The concern towards Islamic economics and finance concept, and its application for society and the country began when I was reading a book entitled Islamic banking-theory and practice. After finishing reading the book, my interest in Islamic economic and finance topics rose and strengthen my own determination to become the expert of Islamic economics and finance. The main principle of Islamic economics and finance which offers the just and ethics in economic activity, poverty alleviation through income distribution mechanism, and prevention of economic and

Hongkong Shanghai Banking Corporation (HSBC) is one of the largest banking and financial services organizations in the world. We are the world's local bank.

According to ECRC, corporate social responsibility in Egypt is defined as the adoption of sustainable business models and practices that have positive impacts on the society. The private sector in Egypt is responsible for creating about 70% of all employment in the country. However, there is room for the private sector to improve its social offerings to the society in general through corporate social responsibility. The Egyptian corporate responsibility center (ECRC) was established in the year 2004 as a joint project between the United Nations development program and the Egyptian government (Grayson and Jane, 71). The main aim of the ECRC is to ensure that both private and public companies align their social responsibility programs for the greatest benefits to the Egyptian citizens. It is important to note that in Egypt private organizations and NGOs mainly conduct CSR activities.