Islamic Bank: A Bank of Ethics in Compliance with Corporate Social Responsibility

Naheeda Ali, Kanwal Iqbal Khan and Salman Naseer

Sustainable Business and Society in Emerging Economies, 2022, vol. 4, issue 2, 295-302

Abstract: Purpose: This paper aims to shed light on the issue's prospects, as ethics in Islamic banking may become another distinguishing factor when compared to its conventional counterpart. This comparative research will compare co-operative banks that emphasize ethical operations to Islamic banking in Pakistan. Although ethics in other countries' co-operative banks has become a new market segment and succeeded because it drew many new customers who wanted to engage in a morally sound investment, Islamic banks continue to concentrate only on sharia.Design/Methodology/Approach: The qualitative method is used in this study by analyzing statutes, particularly Islamic jurisprudences, local and international protocols, conventions, and treatiesFindings: In this work, it shows that ethics has the potential to make Islamic banking a full-fledged financial system if it is used as one of Islam's three pillars.Implications/Originality/Value: In the Islamic economy, Islamic banking is unquestionably at the forefront. Along with Faith (Aqidah) and Islamic Legal Jurisprudence (Sharia), Ethics (Akhlak), as in corporate social responsibility, is a core part of Islam that doesn't get as much attention as it should. An Islamic bank should primarily concentrate on sharia despite balancing those three pillars. In practice, a business with a high ethical standard must be profitable, legal, honest, and ethical while also considering long-term sustainability.

Keywords: Islamic Banking laws; Bank of Ethics; Corporate Social Responsibility; Islamic jurisprudences; Corporate law (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://publishing.globalcsrc.org/ojs/index.php/sbsee/article/view/2257/1401 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:src:sbseec:v:4:y:2022:i:2:p:295-302

DOI: 10.26710/sbsee.v4i2.2257

Access Statistics for this article

More articles in Sustainable Business and Society in Emerging Economies from CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan Contact information at EDIRC.
Bibliographic data for series maintained by Dr Rana Muhammad Adeel Farooq ().