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The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era

This paper discusses the CSR activities of Islamic banks and Halal companies in this era. As the world begins to transition from the Covid-19 pandemic, there is a need for Islamic banks and Halal businesses to retrospect into what has been learned during this crisis and to understand that stakeholde...

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Main Authors: Jaiyeoba, Haruna Babatunde, Azam, Md Siddique E
Format: Article
Language:English
Published: IIUM Press 2023
Subjects:
HF5475.I74 Halal business, entrepreneur, marketing, management, and administration
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/113638/1/113638_The%20CSR%20of%20Islamic%20banks.pdf
http://irep.iium.edu.my/113638/
https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/826
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spelling my.iium.irep.1136382024-08-02T07:38:06Z http://irep.iium.edu.my/113638/ The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era Jaiyeoba, Haruna Babatunde Azam, Md Siddique E HF5475.I74 Halal business, entrepreneur, marketing, management, and administration HG3368 Islamic Banking and Finance This paper discusses the CSR activities of Islamic banks and Halal companies in this era. As the world begins to transition from the Covid-19 pandemic, there is a need for Islamic banks and Halal businesses to retrospect into what has been learned during this crisis and to understand that stakeholders are now more concerned about how businesses operate and contribute to the betterment of the community than ever before. To avoid running the risk of losing customers and employees, Islamic banks and Halal companies must genuinely make large efforts to further their CSR initiatives by committing and promoting the greater good in society. The CSR sphere in post-Covid-19 must minimise, if not eliminate, the existential threat of the widening gap between the haves and have nots created by the Covid-19 outbreak. To this end, the researchers intend to identify and expose Islamic banks and Halal companies to various CSR activities that could help enhance their reputation, gain a competitive edge, achieve cost savings and operational efficiency, reinforce their credibility among Halal consumers and communities, manage their regulatory compliance and mitigate associated risks, and improve their long-term resilience and adaptability in this era. Specifically, the CSR activities covered in this study include commitment to Halal best practices, Zakat and charitable donations, Halal economic responsibility, legal responsibility, environmental responsibility, employee welfare, and responsible dealing with clients. Following the discussion of these CSR activities, the implications, with respect to the practice and theory, of this study are explicated, and recommendation and limitations of this study are offered. IIUM Press 2023-12-31 Article PeerReviewed application/pdf en http://irep.iium.edu.my/113638/1/113638_The%20CSR%20of%20Islamic%20banks.pdf Jaiyeoba, Haruna Babatunde and Azam, Md Siddique E (2023) The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era. Journal of Islamic Finance, 12 (2). pp. 76-85. ISSN 2289-2109 E-ISSN 2289-2117 https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/826 10.31436/jif.v12i2.826
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic HF5475.I74 Halal business, entrepreneur, marketing, management, and administration
HG3368 Islamic Banking and Finance
spellingShingle HF5475.I74 Halal business, entrepreneur, marketing, management, and administration
HG3368 Islamic Banking and Finance
Jaiyeoba, Haruna Babatunde
Azam, Md Siddique E
The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era
description This paper discusses the CSR activities of Islamic banks and Halal companies in this era. As the world begins to transition from the Covid-19 pandemic, there is a need for Islamic banks and Halal businesses to retrospect into what has been learned during this crisis and to understand that stakeholders are now more concerned about how businesses operate and contribute to the betterment of the community than ever before. To avoid running the risk of losing customers and employees, Islamic banks and Halal companies must genuinely make large efforts to further their CSR initiatives by committing and promoting the greater good in society. The CSR sphere in post-Covid-19 must minimise, if not eliminate, the existential threat of the widening gap between the haves and have nots created by the Covid-19 outbreak. To this end, the researchers intend to identify and expose Islamic banks and Halal companies to various CSR activities that could help enhance their reputation, gain a competitive edge, achieve cost savings and operational efficiency, reinforce their credibility among Halal consumers and communities, manage their regulatory compliance and mitigate associated risks, and improve their long-term resilience and adaptability in this era. Specifically, the CSR activities covered in this study include commitment to Halal best practices, Zakat and charitable donations, Halal economic responsibility, legal responsibility, environmental responsibility, employee welfare, and responsible dealing with clients. Following the discussion of these CSR activities, the implications, with respect to the practice and theory, of this study are explicated, and recommendation and limitations of this study are offered.
format Article
author Jaiyeoba, Haruna Babatunde
Azam, Md Siddique E
author_facet Jaiyeoba, Haruna Babatunde
Azam, Md Siddique E
author_sort Jaiyeoba, Haruna Babatunde
title The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era
title_short The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era
title_full The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era
title_fullStr The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era
title_full_unstemmed The CSR of Islamic banks and Halal businesses in the post Covid-19 pandemic era
title_sort csr of islamic banks and halal businesses in the post covid-19 pandemic era
publisher IIUM Press
publishDate 2023
url http://irep.iium.edu.my/113638/1/113638_The%20CSR%20of%20Islamic%20banks.pdf
http://irep.iium.edu.my/113638/
https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/826
_version_ 1806442150499450880
score 13.211869

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