Corporate Social Responsibility as a mean to mitigate risk for Islamic banking industry

Md Tareq Bin Hossain, Chamhuri Siwar, Abdul Razak bin Haji Omar

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

The notion of Corporate Social Responsibility (CSR) refers to the concept where companies integrate social and environmental concerns into their business operations, which is good for business and good for society. By reviewing prior literature, one can safely explain that the term CSR has received overwhelming attention by the academia as well as corporate executives globally. Widespread customer dissatisfaction of socially destructive products is the widely thought reason behind the uprising of the CSR concept. Profit-loss-sharing ideology of Islamic banking considers stakeholder as partners. Contracts under different issues give room for risk sharing between partners. This study intends to explain CSR as a tool to mitigate risk in Islamic banking industry. Using the social contract theory, this study offers a conceptual framework for CSRcentric risk management system for Islamic banks.

Original languageEnglish
Pages (from-to)466-472
Number of pages7
JournalAdvances in Environmental Biology
Volume8
Issue number9 SPEC. ISSUE 4
Publication statusPublished - 2014

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corporate social responsibility
banking
Social Responsibility
Industry
industry
Contracts
Risk Management
ideology
conceptual framework
stakeholders
profits and margins
management systems
stakeholder

ASJC Scopus subject areas

  • Agricultural and Biological Sciences(all)
  • Environmental Science(all)

Cite this

Bin Hossain, M. T., Siwar, C., & bin Haji Omar, A. R. (2014). Corporate Social Responsibility as a mean to mitigate risk for Islamic banking industry. Advances in Environmental Biology, 8(9 SPEC. ISSUE 4), 466-472.

Corporate Social Responsibility as a mean to mitigate risk for Islamic banking industry. / Bin Hossain, Md Tareq; Siwar, Chamhuri; bin Haji Omar, Abdul Razak.

In: Advances in Environmental Biology, Vol. 8, No. 9 SPEC. ISSUE 4, 2014, p. 466-472.

Research output: Contribution to journalArticle

Bin Hossain, MT, Siwar, C & bin Haji Omar, AR 2014, 'Corporate Social Responsibility as a mean to mitigate risk for Islamic banking industry', Advances in Environmental Biology, vol. 8, no. 9 SPEC. ISSUE 4, pp. 466-472.
Bin Hossain, Md Tareq ; Siwar, Chamhuri ; bin Haji Omar, Abdul Razak. / Corporate Social Responsibility as a mean to mitigate risk for Islamic banking industry. In: Advances in Environmental Biology. 2014 ; Vol. 8, No. 9 SPEC. ISSUE 4. pp. 466-472.
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