The Prioritization of Sustainable Development Goals by Major Malaysian Islamic Banks: A Comparative Analysis

Nur Zafirah Muhammad Nor (), Rahisam Ramli, Rozita Baba, Roslina Hashim, Norizan Samri and Zulkefly Abdul Karim
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Nur Zafirah Muhammad Nor: Islamic University Melaka
Rahisam Ramli: Islamic University Melaka
Rozita Baba: Islamic University Melaka
Roslina Hashim: Islamic University Melaka
Norizan Samri: Islamic University Melaka
Zulkefly Abdul Karim: Universiti Kebangsaan Malaysia

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Abstract: The banking sector's alignment with Sustainable Development Goals (SDGs) is critical for advancing global sustainability efforts as it facilitates financial intermediation. A key issue remains the need for more consistency in how Islamic banks prioritize SDGs, making it difficult to assess their collective impact. This study aims to compare the SDG prioritization across Islamic banks in Malaysia, addressing the current variation in sustainability efforts. This study uses qualitative methods by analyzing existing frameworks in the bank's Annual Report and Sustainability Report. Based on the comparative analysis, the study proposes a standardized SDG framework tailored to Islamic banks, ensuring alignment with Shariah principles and international sustainability standards. The findings highlight disparities in SDG prioritization among Islamic banks and suggest recommendations for more unified and effective sustainability strategies within Malaysia's Islamic banking sector. These insights could guide policymakers and banks toward more impactful sustainability initiatives.

Date: 2024-12-25
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Published in Information Management and Business Review, 2024, 16 (4(I)), pp.42-50. ⟨10.22610/imbr.v16i4(I).4255⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04871391

DOI: 10.22610/imbr.v16i4(I).4255

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