Towards sustainable success through corporate social responsibility disclosure: an Islamic approach

Wardiwiyono, Sartini

doi:10.1504/ijge.2013.055387

Cited by 8 publications

(6 citation statements)

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“…The company is still debating how the ideal concept of CSR can be applied well because corporations view CSR as deviating from the company's interests and the role limitations Besides that the lack of good cooperation in managing conflicts of interest arising from diverse stakeholders has thwarted efforts to implement good CSR practices. (Wardiwiyono, 2013). Call for syari'ah and reflect maslahah which implies that these banks do not have to be oriented solely to profit, on the contrary they must strive to promote social welfare and protect the needs of society as a whole.…”

Section: Discussionmentioning

confidence: 99%

CRS implementation from Western to the Islamic Perspective: Maqasid al-Shari‘ah and Maslahah

Zubaidah¹,

Mudrifah²

2019

KSS

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Corporate social responsibility (CSR) perspectives is a framework for the role of business in society which has emerged and developed rapidly as a field of study. It sets standards of behavior to which a company must subscribe in order to impact society in a positive and productive manner while abiding by values that exclude seeking profit at any cost. CSR initiative remains open to wide criticism for its inherent problems and justification, conceptual clarity, and possible inconsistency. Problems are more acute when it comes to implementing and operationalizing CSR on the ground, especially in a situation involves trade-off. This paper offers an instructive understanding of CSR from an Islamic perspective. In particular, the implication of maqasid al-Shari'ah (the Shari'ah's objectives) and the application of maslahah (the public good) to CSR are discussed to shed light on how Islam's perception of CSR take into consideration of the reality and ever-changing circumstances.

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Section: Discussionmentioning

confidence: 99%

CRS implementation from Western to the Islamic Perspective: Maqasid al-Shari‘ah and Maslahah

Zubaidah¹,

Mudrifah²

2019

KSS

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“…Those five objectives of shariah are then famously known as the five basic needs of mankind. Furthermore, Imam Al Shatibi divided maqasid as-shariah into three different level of objective, namely essential objective (maqasid daruriyyat), complementary objective (maqasid hajiyyat) and embellishment objective (maqasid tahsiniyyat) [8]. The daruriyyat objectives was actually similar to Imam Al Juwayni's maslahah concept that was further classified into the protection of the five basic needs of mankind as elaborated by Imam Al Ghazali.…”

Section: Maqasid Ash-shariah Performance Measurementmentioning

confidence: 98%

Six Years in Achieving Maqasid Ash-Shariah: The Case of Islamic Commercial Banks in Indonesia

Wardiwiyono¹

2020

Proceedings of the 1st International Conference on Science, Health, Economics, Education and Technology (ICoSHEET 2019)

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As an Islamic system of values, ethics, and principles, shariah has an ultimate objective that is to promote the well-being of mankind in the world and the hereafter. Abu-Zahrah further identified the objective of shariah (maqasid alshariah) into educating people, upholding justice and promoting social welfare. As a group of individuals, Islamic business institutions, including Islamic banks, should be operated in any way that is in line with those objectives. The aim of this study is to investigate the practice of Islamic commercial banks in Indonesia in educating people, upholding justice and promoting social welfare as described by Abu Zahrah in his concept of maqasid ash-shariah. Panel data related to financial ratios based on the operationalization of Abu Zahrah's maqasid ash-shariah concept developed by Mohammed et al. were obtained from the annual reports of 11 Islamic commercial banks in Indonesia. The reports were published in six years' time starting from 2011 to 2016. The data were further calculated to come out with maqasid alshariah index to represent the overall performance of the banks in achieving maqasid al-shariah. To summarize the results, descriptive statistics were finally applied. This study reveals that the thirteen Islamic commercial banks in Indonesia have carried out the necessary activities to achieve the three objectives of shariah. The main focus carried out by the banks is to uphold justice followed by maintaining social welfare. The least priority was given in educating people. During the past seven years, the maqasid al-shariah indexes were fluctuated. The index touched the lowest point in 2014. On average, the maqasid al-shariah index was quite low, opening a room for the banks to improve their activities to be more ethical and social.

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“…The last research stream draws the attention on how maqashid sharia can be linked to sustainable development. Given the diverse concept of sustainable development, most of the authors in this reviewed studies are interested to address the role of maqashid sharia in achieving Sustainable Development Goals through the reform of Islamic Finance in general (Khan, 2019) and several instruments of Islamic Finance in particular, such as sukuk (Al Madani et al, 2020), waqf (Abdullah, 2018), Unleveraged Green Investment Trust (UGIT) (Aassouli et al, 2018), and CSR in Islamic banks (Hamidi & Worthington, 2021;Wardiwiyono, 2013). In the context of Islamic banking, there are at three approaches could be taken to address the issue of sustainable development.…”

Section: -Third Stream: Maqashid Sharia For Achieving Sustainable Dev...mentioning

confidence: 99%

Over a decade of maqashid sharia studies: a bibliometric analysis and direction for future research

Tumewang

Dewi

Amin

2023

JIABR

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Purpose The purpose of this paper is to build a relationship between the quantitative and structural indicators of maqashid sharia studies produced from bibliometric analysis and the conceptual discussion developed through a thorough review of selected key literature. Design/methodology/approach The study uses bibliometric analysis, collecting information drawn from 219 articles published in 68 journals during the period of 2006–2022. This study uses VOSviewer, RStudio, Microsoft Excel, and an examination of research time periods using the Scopus database to illustrate the citation analysis and keyword map. It is also strengthened by content analysis of selected studies. Findings The main research theme found in this study is the application of maqashid sharia in Islamic banks, with Islamic banks and Islamic finance among the most frequently used keywords. Meanwhile, the geographical spread of maqashid sharia research has reflected its universal acceptance, as it has spread across both Muslim-dominant and non-Muslim-dominant countries. Besides, maqashid sharia is found to be an extremely important subject for ensuring the ethical dimension of Islamic finance products and services, a more inclusive human development index, and contributing to the international agenda of Sustainable Development Goals. Lastly, future research is expected to broaden it into a multi-dimensional horizon, with several recommendations offered to enrich the understanding of maqashid sharia. Practical implications The findings of this study can be beneficial to multiple stakeholders in Islamic finance industry, including the management of Islamic banks, who can enhance the values of maqashid sharia in designing their products/services, and the regulators, who can formulate regulatory frameworks which are reflective of maqashid sharia principles. Social implications This study will assist future scholars in this field to formulate and design exciting research ideas and models to address the deficiencies found in the current implementation of maqashid sharia within Islamic finance industry. Originality/value The primary contribution of this study is to provide comprehensive review and discussion of selected significant literature on maqashid sharia and give direction for future research. In addition, this study also extends and incorporates the results of bibliometrics using the recent maqashid sharia studies published at the end of 2022.

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Towards sustainable success through corporate social responsibility disclosure: an Islamic approach

Cited by 8 publications

References 0 publications

CRS implementation from Western to the Islamic Perspective: Maqasid al-Shari‘ah and Maslahah

CRS implementation from Western to the Islamic Perspective: Maqasid al-Shari‘ah and Maslahah

Six Years in Achieving Maqasid Ash-Shariah: The Case of Islamic Commercial Banks in Indonesia

Over a decade of maqashid sharia studies: a bibliometric analysis and direction for future research

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