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Shariah compliance of green banking policy in Bangladesh

Purpose – This paper aims to critically evaluate whether the policies of green banking set by Bangladesh Bank are Shariah compliant; according to the main sources of the Shariah – Quran and Sunnah. Design/methodology/approach – Green policy and guidelines have been divided into different categ...

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Main Authors: Julia, Taslima, Rahman, Maya Puspa, Kassim, Salina H.
Format: Article
Language:English
English
Published: Emerald Group Publishing Ltd 2016
Subjects:
BP173.75 Islam and economics
HG1501 Banking
HT51 Human settlements. Communities
Online Access:http://irep.iium.edu.my/54386/1/Shariah%20compliance%20of%20green%20banking%20policy%20in%20Bangladesh_Julia_Rahman_Kassim%202016.pdf
http://irep.iium.edu.my/54386/7/54386_Shariah%20compliance%20of%20green%20banking_Scopus.pdf
http://irep.iium.edu.my/54386/
http://www.emeraldinsight.com/doi/abs/10.1108/H-02-2016-0015
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spelling my.iium.irep.543862017-03-17T01:02:33Z http://irep.iium.edu.my/54386/ Shariah compliance of green banking policy in Bangladesh Julia, Taslima Rahman, Maya Puspa Kassim, Salina H. BP173.75 Islam and economics HG1501 Banking HT51 Human settlements. Communities Purpose – This paper aims to critically evaluate whether the policies of green banking set by Bangladesh Bank are Shariah compliant; according to the main sources of the Shariah – Quran and Sunnah. Design/methodology/approach – Green policy and guidelines have been divided into different categories such as environment protection, conservation of resources, risk management, educating people about green financing, transparency and disclosure and investing in green projects according to the common measures as stated in three different phases of the policy and guidelines. Subsequently, these major aspects of the green policy and guidelines are linked to the main references of the Shariah, i.e. the holy Quran and Sunnah of Prophet [peace be upon him (pbuh)]. Findings – Various verses of the holy Quran and teachings of Prophet (pbuh) related to the major categories of Green policy and guidelines are being presented to show the compliance with Shariah. Practical implications – The Green policy and guidelines are very much in-line with Shariah. Though all types of banks in Bangladesh are bound to implement the green banking policy, however, Shariah compliance of green banking policy will be encouraging for all Islamic Banks of Bangladesh for their further and profounder involvement in it. Social implications – As green policies are found to be Shariah complaint, the Islamic banks are expected to contribute more to the sustainable economic growth of the country by successfully implementing the green financing policies compare to their conventional counterpart. Originality/value – Verses of holy Quran and authentic Hadiths related to environmental sustainability concept show that Islam is a green religion as well as green banking policy is Islamic. Keywords Green banking, Green banking policy of Bangladesh, Shariah compliance Emerald Group Publishing Ltd 2016 Article REM application/pdf en http://irep.iium.edu.my/54386/1/Shariah%20compliance%20of%20green%20banking%20policy%20in%20Bangladesh_Julia_Rahman_Kassim%202016.pdf application/pdf en http://irep.iium.edu.my/54386/7/54386_Shariah%20compliance%20of%20green%20banking_Scopus.pdf Julia, Taslima and Rahman, Maya Puspa and Kassim, Salina H. (2016) Shariah compliance of green banking policy in Bangladesh. Humanomics, 32 (4). pp. 390-404. http://www.emeraldinsight.com/doi/abs/10.1108/H-02-2016-0015
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
English
topic BP173.75 Islam and economics
HG1501 Banking
HT51 Human settlements. Communities
spellingShingle BP173.75 Islam and economics
HG1501 Banking
HT51 Human settlements. Communities
Julia, Taslima
Rahman, Maya Puspa
Kassim, Salina H.
Shariah compliance of green banking policy in Bangladesh
description Purpose – This paper aims to critically evaluate whether the policies of green banking set by Bangladesh Bank are Shariah compliant; according to the main sources of the Shariah – Quran and Sunnah. Design/methodology/approach – Green policy and guidelines have been divided into different categories such as environment protection, conservation of resources, risk management, educating people about green financing, transparency and disclosure and investing in green projects according to the common measures as stated in three different phases of the policy and guidelines. Subsequently, these major aspects of the green policy and guidelines are linked to the main references of the Shariah, i.e. the holy Quran and Sunnah of Prophet [peace be upon him (pbuh)]. Findings – Various verses of the holy Quran and teachings of Prophet (pbuh) related to the major categories of Green policy and guidelines are being presented to show the compliance with Shariah. Practical implications – The Green policy and guidelines are very much in-line with Shariah. Though all types of banks in Bangladesh are bound to implement the green banking policy, however, Shariah compliance of green banking policy will be encouraging for all Islamic Banks of Bangladesh for their further and profounder involvement in it. Social implications – As green policies are found to be Shariah complaint, the Islamic banks are expected to contribute more to the sustainable economic growth of the country by successfully implementing the green financing policies compare to their conventional counterpart. Originality/value – Verses of holy Quran and authentic Hadiths related to environmental sustainability concept show that Islam is a green religion as well as green banking policy is Islamic. Keywords Green banking, Green banking policy of Bangladesh, Shariah compliance
format Article
author Julia, Taslima
Rahman, Maya Puspa
Kassim, Salina H.
author_facet Julia, Taslima
Rahman, Maya Puspa
Kassim, Salina H.
author_sort Julia, Taslima
title Shariah compliance of green banking policy in Bangladesh
title_short Shariah compliance of green banking policy in Bangladesh
title_full Shariah compliance of green banking policy in Bangladesh
title_fullStr Shariah compliance of green banking policy in Bangladesh
title_full_unstemmed Shariah compliance of green banking policy in Bangladesh
title_sort shariah compliance of green banking policy in bangladesh
publisher Emerald Group Publishing Ltd
publishDate 2016
url http://irep.iium.edu.my/54386/1/Shariah%20compliance%20of%20green%20banking%20policy%20in%20Bangladesh_Julia_Rahman_Kassim%202016.pdf
http://irep.iium.edu.my/54386/7/54386_Shariah%20compliance%20of%20green%20banking_Scopus.pdf
http://irep.iium.edu.my/54386/
http://www.emeraldinsight.com/doi/abs/10.1108/H-02-2016-0015
_version_ 1643614541446119424
score 13.211869

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