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Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity

The purpose of this paper is to highlight the potential of Social Impact Bond (SIB) and Socially Responsible Investment (SRI) sukuk as financial models that can be used to help alleviate the social problem of poverty and also potentially provide economic security for the society. From the review of...

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Main Authors: Syed Azman, Syed Marwan Mujahid, Engku Ali, Engku Rabiah Adawiah
Format: Article
Language:English
English
Published: IIUM Press 2016
Subjects:
HG Finance
HG4001 Financial management. Business finance. Corporation finance.
Online Access:http://irep.iium.edu.my/55193/1/55193_Potential%20Role%20of%20Social%20Impact.pdf
http://irep.iium.edu.my/55193/2/55193_Potential%20Role%20of%20Social%20Impact_SCOPUS.pdf
http://irep.iium.edu.my/55193/
http://journals.iium.edu.my/intdiscourse/index.php/islam
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spelling my.iium.irep.551932019-02-25T01:35:39Z http://irep.iium.edu.my/55193/ Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity Syed Azman, Syed Marwan Mujahid Engku Ali, Engku Rabiah Adawiah HG Finance HG4001 Financial management. Business finance. Corporation finance. The purpose of this paper is to highlight the potential of Social Impact Bond (SIB) and Socially Responsible Investment (SRI) sukuk as financial models that can be used to help alleviate the social problem of poverty and also potentially provide economic security for the society. From the review of literature, this paper takes case studies of SIB programmes and SRI sukuk, and relates them as programmes that can be used to address the issue of poverty and economic insecurity. The paper finds that there is a growing global interest in innovative financial tools such as SIB and SRI sukuk. Furthermore, the paper explicates that SIB and SRI sukuk models embody the spirit of social responsibility, which is one of the major essence that is currently missing in the Islamic finance industry practice. This paper is conceptual and exploratory in nature. Therefore, further empirical research can be done to provide better understanding and knowledge. Findings from this paper can be used as a reference to understand the concepts and mechanisms involved in SIB and SRI sukuk models. This paper contributes to the awareness of the emerging global interest in SIB and SRI. In addition, it highlights SIB and SRI sukuks' potential contribution towards Islamic finance. Although SIB and SRI sukuk is gaining interest worldwide, it has not caught much attention of researchers and practitioners involved with Islamic finance. Therefore, this paper offers insight towards SIB and SRI sukuk, which is relatively unknown to academics and Islamic finance industry practitioners. IIUM Press 2016 Article PeerReviewed application/pdf en http://irep.iium.edu.my/55193/1/55193_Potential%20Role%20of%20Social%20Impact.pdf application/pdf en http://irep.iium.edu.my/55193/2/55193_Potential%20Role%20of%20Social%20Impact_SCOPUS.pdf Syed Azman, Syed Marwan Mujahid and Engku Ali, Engku Rabiah Adawiah (2016) Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity. Intellectual Discourse, 24. pp. 343-364. ISSN 0128-4878 http://journals.iium.edu.my/intdiscourse/index.php/islam
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 HG Finance
HG4001 Financial management. Business finance. Corporation finance.
spellingShingle HG Finance
HG4001 Financial management. Business finance. Corporation finance.
Syed Azman, Syed Marwan Mujahid
Engku Ali, Engku Rabiah Adawiah
Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
description The purpose of this paper is to highlight the potential of Social Impact Bond (SIB) and Socially Responsible Investment (SRI) sukuk as financial models that can be used to help alleviate the social problem of poverty and also potentially provide economic security for the society. From the review of literature, this paper takes case studies of SIB programmes and SRI sukuk, and relates them as programmes that can be used to address the issue of poverty and economic insecurity. The paper finds that there is a growing global interest in innovative financial tools such as SIB and SRI sukuk. Furthermore, the paper explicates that SIB and SRI sukuk models embody the spirit of social responsibility, which is one of the major essence that is currently missing in the Islamic finance industry practice. This paper is conceptual and exploratory in nature. Therefore, further empirical research can be done to provide better understanding and knowledge. Findings from this paper can be used as a reference to understand the concepts and mechanisms involved in SIB and SRI sukuk models. This paper contributes to the awareness of the emerging global interest in SIB and SRI. In addition, it highlights SIB and SRI sukuks' potential contribution towards Islamic finance. Although SIB and SRI sukuk is gaining interest worldwide, it has not caught much attention of researchers and practitioners involved with Islamic finance. Therefore, this paper offers insight towards SIB and SRI sukuk, which is relatively unknown to academics and Islamic finance industry practitioners.
format Article
author Syed Azman, Syed Marwan Mujahid
Engku Ali, Engku Rabiah Adawiah
author_facet Syed Azman, Syed Marwan Mujahid
Engku Ali, Engku Rabiah Adawiah
author_sort Syed Azman, Syed Marwan Mujahid
title Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_short Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_full Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_fullStr Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_full_unstemmed Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_sort potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
publisher IIUM Press
publishDate 2016
url http://irep.iium.edu.my/55193/1/55193_Potential%20Role%20of%20Social%20Impact.pdf
http://irep.iium.edu.my/55193/2/55193_Potential%20Role%20of%20Social%20Impact_SCOPUS.pdf
http://irep.iium.edu.my/55193/
http://journals.iium.edu.my/intdiscourse/index.php/islam
_version_ 1643618961716150272
score 13.211869

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