Pursuing sustainable development goals through integrating the aspirations ofzakahand CSR: evidence from the perspective of an emerging economy

Nazamul Hoque, Mahi Uddin, Mohammad Tazul Islam, Abdullahil Mamun, Mohammad Nazim Uddin, Afzal Ahmad and Md Thowhidul Islam

International Journal of Social Economics, 2023, vol. 50, issue 9, 1232-1247

Abstract: Purpose - This study looked into the scope of integrating the aspirations ofzakahand corporate social responsibility (CSR) to counter poverty, inequity, illiteracy, malnutrition and environmental pollution to ensure peace, happiness, prosperity and sustainability as envisaged in sustainable development goals (SDGs). Design/methodology/approach - This is a qualitative research study conducted using both primary and secondary data. Primary data were collected from 29 business enterprises in Bangladesh employing a semi-structured interview protocol. The secondary data were collected through content analysis of annual reports, websites and CSR publications of sample organizations. Finally, collected qualitative data have been analyzed thematically following the due procedures to address the research questions. Findings - The findings reveal that integration of the aspirations ofzakahand CSR is a convenient and wholehearted approach for entrepreneurs resulting in pursuing SDGs. In addition, business entrepreneurs in Bangladesh consider such practices as killing two birds with one stone because this approach warrants performing both religious and social obligations simultaneously. Interestingly, the study explores thatshariahcompliance acts as a guiding force for selecting well-being-oriented projects inzakah-fundedCSR resulting in pursuing the priority goals – No Poverty (1), Zero Hunger (2) – of SDGs, thereby addressing some of the most critical issues of emerging economies such as Bangladesh. Practical implications - The findings of this research can be used as a guide to incorporate the spirit and principle ofzakahinto the CSR programs aimed at pursuing SDGs mainly in Muslim countries representing one-fourth of the world population. Originality/value - Integration of the aspirations ofzakahand CSR is an innovative move and net addition to the literature on sustainability, CSR andzakahbecause Muslim business entrepreneurs will now conveniently be able to use the entrepreneurs'zakahmoney – readily available in each financial year – to fund the entrepreneurs' various CSR projects (withinshariahframework) relating to poverty alleviation, humanitarian and disaster relief, health and sanitation and environmental conservation which will eventually contribute to pursuing various SDGs.

Keywords: zakah; CSR; Sustainability; Entrepreneur; SDGs; Well-being; Poverty; Equity (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijsepp:ijse-09-2022-0600

DOI: 10.1108/IJSE-09-2022-0600

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