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    Lecture No.05 CSR in Islamic Perspective PDF

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    AdeelMuzaffar
    This document discusses corporate social responsibility from an Islamic perspective. It defines CSR as a continuing commitment by businesses to behave ethically and contribute to economic development while improving life for employees, local communities, and society. In Islam, social responsibility includes both voluntary charity and obligations like zakat and prohibiting riba. Islamic banks are required to operate according to moral and ethical standards of sharing brotherhood, equality, and equitable distribution. Major Islamic principles for social responsibility include mankind representing Allah, individual accountability, enjoining good and forbidding evil, paying zakat, and promoting social justice, education, and environmental protection. The AAOIFI standard outlines Islamic social responsibility practices like screening clients, employee welfare, charity, and zak

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    Lecture No.05 CSR in Islamic Perspective PDF

    Uploaded by

    AdeelMuzaffar
    28 views8 pages
    This document discusses corporate social responsibility from an Islamic perspective. It defines CSR as a continuing commitment by businesses to behave ethically and contribute to economic development while improving life for employees, local communities, and society. In Islam, social responsibility includes both voluntary charity and obligations like zakat and prohibiting riba. Islamic banks are required to operate according to moral and ethical standards of sharing brotherhood, equality, and equitable distribution. Major Islamic principles for social responsibility include mankind representing Allah, individual accountability, enjoining good and forbidding evil, paying zakat, and promoting social justice, education, and environmental protection. The AAOIFI standard outlines Islamic social responsibility practices like screening clients, employee welfare, charity, and zak

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    This document discusses corporate social responsibility from an Islamic perspective. It defines CSR as a continuing commitment by businesses to behave ethically and contribute to economic development while improving life for employees, local communities, and society. In Islam, social responsibility includes both voluntary charity and obligations like zakat and prohibiting riba. Islamic banks are required to operate according to moral and ethical standards of sharing brotherhood, equality, and equitable distribution. Major Islamic principles for social responsibility include mankind representing Allah, individual accountability, enjoining good and forbidding evil, paying zakat, and promoting social justice, education, and environmental protection. The AAOIFI standard outlines Islamic social responsibility practices like screening clients, employee welfare, charity, and zak

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    28 views8 pages

    Lecture No.05 CSR in Islamic Perspective PDF

    Uploaded by

    AdeelMuzaffar
    This document discusses corporate social responsibility from an Islamic perspective. It defines CSR as a continuing commitment by businesses to behave ethically and contribute to economic development while improving life for employees, local communities, and society. In Islam, social responsibility includes both voluntary charity and obligations like zakat and prohibiting riba. Islamic banks are required to operate according to moral and ethical standards of sharing brotherhood, equality, and equitable distribution. Major Islamic principles for social responsibility include mankind representing Allah, individual accountability, enjoining good and forbidding evil, paying zakat, and promoting social justice, education, and environmental protection. The AAOIFI standard outlines Islamic social responsibility practices like screening clients, employee welfare, charity, and zak

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 8

    Corporate Social Responsibility

    in Islamic Perspective

    Abdur Rashid Mirza


    University of Lahore
    School of Accountancy & Finance
    Subject Name: Corporate Governance Transparency and Risk
    Management
    Lecture
    no.05
    1

    Definition of Corporate Social Responsibility

    Corporate Social Responsibility is the


    continuing commitment by business to
    behave Ethically and contribute to
    economic development while improving
    the quality of life of the workforce and
    their families as well as local
    community and society at large.

    Definition of Social Responsibility

    In Islam, however, SR in generally not


    CSR has voluntary characteristics like
    sadaqat (Charity), Awqaf that are
    encouraged not compulsory and others
    that
    are
    compulsory
    like
    the
    implementation of Zakat and the
    prohibition of Riba (interest) that are
    enforce and need to be done.

    Definition of Coporate Social Responsibility


    The Philosophy of Islamic business as
    protected by the Shariah requires Islamic Banks
    to operate in morally, ethically and socially
    responsible manner i.e. confirming to the
    Islamic standards of business and economic
    activities. Thus the concepts of CSR is a natural
    commitment of Islamic institution particularly
    Islamic banks whose objective
    are
    directed
    towards
    making brotherhood, social
    equality and equitable distribution a reality
    a Muslim society.

    Major Foundational Principals for Islamic


    Principles for Islamic SR into following three
    The principle Mankind is the representative of Allah

    Individual will be the accountable of Allah


    Principle of enjoying good and forbidding evil
    Prophet Said Every Muslim must pay Sadaqat
    (Charity).
    Faith based ethos of Isalmic Finance
    Not only wealth creation and economic development but
    also to promotion of social justice.

    Participation fight against Illiteracy and poverty in


    society.
    Participation in the protection of the environment.

    AAOIFI Standard no.07


    Corporate Social Responsibility
    Accounting and Audit Organization for Islamic Finance Institutions

    Screening clients
    Responsible earning with client
    Employee Welfare
    Qard Hasna
    Social Development
    Chairtable Activities
    Zakah
    Customer Service

    Conclusion Islamic Social Responsibility (ISR)

    If applied correctly and fully, is more


    comprehensive than CSR, as it protects
    all the parties of the contracts and
    financial transactions and prevents the
    causes of injustice, exploitation,
    domination.

    Thank you

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