Are the green projects in line with the Maqasid Shariah? an assessment of green firms in Bangladesh
The regulators and policy makers of Bangladesh are very much aware about the impact of climate change and pollution on the economy and quality of life of the citizens. This concern is manifested by the efforts to introduce the green banking policy and guidelines where green practices are promoted...
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| Main Authors: | , , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
International Research Centre of Islamic Economics and Finance (IRCIEF)
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/67135/1/67135_Are%20the%20Green%20Projects%20in%20Line.pdf http://irep.iium.edu.my/67135/ https://ircief.org.my/gcief2018/wp-content/uploads/2018/10/22.-Are-the-Green-Projects-in-Line-with-the-Maqasid-Shariah-An-Assessment-of-Green-Firms-in-Bangladesh.pdf |
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| Summary: | The regulators and policy makers of Bangladesh are very much aware about the impact of
climate change and pollution on the economy and quality of life of the citizens. This concern
is manifested by the efforts to introduce the green banking policy and guidelines where green
practices are promoted among the investors, financiers and businessmen. However, there is a
lack of investigation of the performance of the projects, which are classified as “green”
according to the Bangladesh central bank policy. As an extension to our earlier work which
has elaborated on the shariah-compliancy of the green banking policy of Bangladesh, this
paper aims to explore the shariah-compliancy of the green businesses. In methodology, we
consider the Maqasid Shariah parameters and design survey questionnaires to be administered
on five green companies to confirm the preset themes on Maqasid Shariah. The sample firms
sourced their financings from various shariah-based banks’ green financing scheme. The
collected data is analyzed following deductive thematic analysis approach and it is ascertained
by respondents of the green companies that sustainability of green firms is positively related
to the Maqasid Shariah and green firms’ activities are in line with Shariah. |
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