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Corporate social responsibility and Islamic banks: a systematic literature review

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Abstract

Although CSR is an extensively studied topic, a systematic, comprehensive and diverse review in the domain of CSR and Islamic banking is missing. This paper intends to present a broad review of this domain. Through a state-of-the-art review, we have divided the paper into different sections, the first two are general i.e. CSR measurement, it deals with measuring methods of CSR in Islamic banking, and CSR theories, it gives a brief overview of theories referred in under-review studies. While, the other three sections are separated according to the nature of studies i.e. CSR narrative under the Islamic paradigm, CSR disclosure by Islamic banks, and CSR exposition in Islamic banks. At the end of each section, we have included a ‘commentary’ to discuss and summarize major points, highlight trends and issues, provide insights into limitations and suggest future research directions.

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Notes

  1. Tawarruq is one of the Islamic financial instrument (see: Mohamad and Rahman 2014).

  2. http://wokinfo.com/mbl/publishers.

  3. Zakat is a religious tax which is often used for social goals, and Qard al Hassan is an instrument of loan under interest-free assumption, in which debtor has to pay only the principal amount, so this instrument is often considered as good for social goals as well.

  4. AAOIFI stands for Accounting and Auditing Organization for Islamic Financial Institutions. This is Bahrain-based non-for-profit organization that is established to promote and maintain the Shariah standards for Islamic financial institutions.

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Acknowledgements

The authors would like to acknowledge the kind guidance of the editor-in-chief (Prof. Dr. Jörn Block), and the anonymous reviewers for their constructive comments and invaluable suggestions throughout the review process.

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Authors and Affiliations

  1. Department of Shariah and Economics, University of Malaya, 50603, Kuala Lumpur, Malaysia

    Muhammad Bilal Zafar & Ahmad Azam Sulaiman

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  1. Muhammad Bilal Zafar
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Correspondence to Muhammad Bilal Zafar.

Appendix

Appendix

See Tables 2, 3, 4, 5 and 6.

Table 2 Keywords, brief narration and number of articles
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Table 3 List of journals and books considered as a source for under-review articles
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Table 4 Brief overview of under-review articles
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Table 5 Categorization of studies according to nature and countries
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Table 6 Detail of excluded articles
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Zafar, M.B., Sulaiman, A.A. Corporate social responsibility and Islamic banks: a systematic literature review. Manag Rev Q 69, 159–206 (2019). https://doi.org/10.1007/s11301-018-0150-x

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