Corporate social responsibility (CSR) management process at Bank Islam Malaysia Berhad

The notion of corporate social responsibility (CSR) from the Islamic perspective has been viewed by reference to the Tawhid and Shariah paradigms and other concepts such as maqasid Shariah (objectives of Shariah), maslahah ammah (public interest) and masuliyyah (accountability). From this point of view, CSR engagement is a tool to maintain a good relationship to Allah, other human beings and the environment. However, the process of managing CSR engagement in accordance with Shariah principles has been given scarce attention in the academic and practitioner literature. Thus, this study aims to describe and develop a managerial guideline on the CSR management process in accordance with Shariah principles. Using the case study approach, CSR key players and beneficiaries at Bank Islam Malaysia Berhad were interviewed to determine the relevant concepts, objectives, factors, benefits and challenges of CSR. Several series of in-field observations of CSR events were conducted, and documentation was reviewed in order to better understand and explain the process. The findings of this study indicate that CSR relates to any activity in which the bank engages to discharge religious, social and economic responsibilities and accountabilities to attain barakah (Allah’s blessings) and to enhance the well-being of the stakeholders and the business. Commitments from all members in the bank, pressure from various stakeholders and the amount of CSR funds are among the factors that influence CSR engagement. This engagement is part of fard-kifayah to fulfill religious obligations, strengthen relationships with various stakeholders, improve the well-being of the recipients and offer positive effects to the bank. In light of the CSR management process, the findings reveal that the process has shifted to a systematic approach and is well planned. Hence, the proposed managerial guideline on the process may offer new insights to the body of knowledge on CSR and may help business entities to manage CSR systematicall

Islamic concept of corporate social responsibility (CSR) from the perspective of CSR players at Bank Islam Malaysia Berhad

The issue of CSR has received an increasingly high profile in recent years all over the world. Most of the prior studies on CSR are based on the conventional concept, which the concept is failed to explain the religious or spiritual obligations of business entities towards the society and other stakeholders.From the Islamic perspective, the business social responsibility is broadly discussed in many Quranic verses and Hadith and covered spiritual, moral and material obligations. Thus, this study aims to describe the Islamic concept of CSR and to identify the objectives of such engagements to fulfill various stakeholders’ demands and needs.Using a case study approach, a group of CSR key players at Bank Islam Malaysia Berhad were interviewed and several series of in-field observations of CSR events were conducted as well as documentation was reviewed in order to better understand the concept.The findings of this study indicate that CSR relates to any activities in which the bank engages to discharge religious, social and economic responsibilities and account abilities to attain barakah (Allah’s blessings) and to enhance the well being of the stakeholders and the business. Hence, this study may enhance the body of knowledge of CSR from the Islamic perspective to reflect Islamic teachings, values and principles

CSR practices in BIMB: Factors and benefits

Purpose - Most companies are now looking forward to manage CSR initiatives in a strategic way. However, the process of managing such initiatives is still a black box in academic literature.Therefore, the purpose of this study is to gain insights into the practices and management of CSR initiatives in Bank Islam Malaysia Berhad (BIMB) as well as to understand the factors and benefits of engaging and sustaining such activities. Design/methodology/approach - By using case study approach, a group of key players in planning, implementing and also recipients of CSR initiatives were interviewed.In addition, some in-field observations on CSR events as well as documentation analysis were employed to propose a framework on CSR management process in Islamic perspective.Findings - The study suggests that the CSR practices have been shifted to systematic approach and are well planned.These interesting findings provide an avenue to draw a conceptual framework in managing CSR initiatives.Commitments and supports from all members in the bank are among the factors that improve the image of the bank and also for the long term sustainability. Originality/value - CSR practices in Bank Islam are highly associated with Zakat and Zakat management due to a big portion of CSR fund comes from Zakat fund.The findings offer a good opportunity to companies and regulatory bodies to enhance the existing framework on managing CSR as part of their commitment to improve the well-being of community and for business sustainabilit

Stakeholder management indesigning CSR activities:The case of Bank Islam

CSR commitments should be viewed from a broad Islamic perspective of reducing poverty rate, and enhancing quality of Muslims’ lives. The purpose of this study was to determine how Bank Islam manages its stakeholders, and their issues, in designing CSR activities through the three level of maslahah. A group of CSR players at the bank has been interviewed together with on-field observations as well as documentation reviews to gain insights into the process of managing stakeholders. The findings indicated that the bank acknowledges the importance of managing stakeholders, and their issues, through the engagement of various CSR activities. In designing CSR activities, the process of identifying the stakeholders and their issues may need to be carefully examined to improve the impact of the activities on the recipients. This study offers a new insight to the body of knowledge of CSR from the Islamic perspectives of stakeholder management

CSR management process in Bank Islam Malaysia Berhad (BIMB): Managing zakat fund

The notion of CSR from Islamic perspective has been viewed as a comprehensive discourse when it is already embedded the element of spiritual (Iman and Taqwa), economics, ethical and legal. The integration of these elements in Islamic CSR is urged companies to manage it systematically and optimize the value of CSR to become a DNA of the company. However, the process of managing CSR initiatives is scarcely focused on. Thus, by using case study approach, a group of key players in planning, implementing and receiving CSR initiatives has been interviewed in a way to gain better understanding of CSR management process and to gain insights the benefits of engaging and sustaining CSR initiatives.In addition, several series of infield observations on CSR events as well as documentation analysis have been employed to get the whole picture of the process. The results show that CSR initiatives in Bank Islam are highly associated with Zakat and Zakat management due to a big portion of CSR fund is derived from Zakat fund. Most of the respondents demonstrate that CSR is about giving back to society and as a tool to help and develop communities.Then, in light to the CSR management process, the findings suggest that the process has been shifted to systematic approach and well planned.This significance improvement can be demonstrated for the past five years, after rebranding of the bank.Thus, this interesting finding provides an avenue to draw a conceptual framework in managing CSR initiatives.The findings offer a good opportunity to companies and regulatory bodies to enhance the existing framework on managing CSR as part of their commitment to improve the well-being of community and for business sustainability

Managing CSR initiatives from the Islamic perspective: The case of Bank Islam Malaysia Berhad (BIMB)

From the Islamic perspective, corporate social responsibility (CSR) is a mean to maintain a good relationship with Allah (SWT), other human beings and the environment. However, the process of managing CSR initiatives in accordance with Islamic principles has been given scarce attention in the literature. Thus, this study aims to describe and develop a managerial guideline for the process of managing CSR initiatives based on the Tawhid and Shariah paradigms. Using the case study approach, CSR key players and beneficiaries at Bank Islam Malaysia Berhad were interviewed, several series of in-field observations of these events were conducted and the CSR documentation was reviewed to better understand the processes involved. The findings of this study indicate that the processes of managing CSR initiatives at Bank Islam have become more systematic and well-planned. Hence, the proposed managerial guideline may add new insights to the CSR body of knowledge and may help business entities to manage CSR more systematically

Managing CSR initiatives from the Islamic perspective: The case of Bank Islam Malaysia Berhad (BIMB)

From the Islamic perspective, corporate social responsibility (CSR) is a mean to maintain a good relationship with Allah (SWT), other human beings and the environment. However, the process of managing CSR initiatives in accordance with Islamic principles has been given scarce attention in the literature. Thus, this study aims to describe and develop a managerial guideline for the process of managing CSR initiatives based on the Tawhid and Shariah paradigms. Using the case study approach, CSR key players and beneficiaries at Bank Islam Malaysia Berhad were interviewed, several series of in-field observations of these events were conducted and the CSR documentation was reviewed to better understand the processes involved. The findings of this study indicate that the processes of managing CSR initiatives at Bank Islam have become more systematic and well-planned. Hence, the proposed managerial guideline may add new insights to the CSR body of knowledge and may help business entities to manage CSR more systematically

Corporate Social Reporting: A Preliminary Study of Bank Islam Malaysia Berhad (BIMB)

The purpose of this paper is to examine the themes, locations, extent, and also trends of corporatesocial responsibility (CSR) disclosure of Bank Islam Malaysia Berhad (BIMB) from 1992to 2005. A disclosure index (checklist) and the extent of such disclosures were measured usingcontent analysis based on number of sentences. The findings of this study show that BIMBprefers to disclose themes associated with employees, product, and service contributions andcommunity involvement. Among the most popular locations in disclosing such information arein the chairman’s statement, financial statements, and directors’ report. The results also revealthat the bank has improved in terms of volume and the manner of presenting or disclosing CSRfrom year to year. This study is the first of its kind to be conducted on a company in a specificindustry in Malaysia using a longitudinal approach, and its empirical findings complement thefindings of prior studies. Copyright © www.iiste.or

Corporate social responsibility disclosures: A preliminary study of Bank Islam Malaysia Berhad (BIMB)

Bank Islam Malaysia Berhad (BIMB) started operations as a pioneer in Islamic banking in Malaysia to cater for the financial needs of Muslims in this country and to further extend its services to the whole population at large. The bank carries Islamic values and images in conducting its business activities.This study examines the themes, locations, extent, and also trends of corporate social responsibility (CSR) disclosure of BIMB from 1992 to 2005. The CSR disclosure in the annual reports of the bank are examined using a disclosure index (checklist) and the extent of such disclosures are measured using the content analysis method.The findings of this study show that the bank prefers to disclose themes associated with employees, product, and service contributions and community involvement. Among the most popular locations in disclosing such information are in the chairman’s statement, financial statements, and directors’ report.The result also revealed that the bank has improved in terms of volume and the way to present or report the CSR disclosure from year to year. These findings provide some useful insights to the public in determining how far the bank meets the obligation to the employees and the community as a whole in Malaysia

A Conceptual Framework for the Role of Corporate Social Responsibility in Palestinian Firm Performance

Objective: This research study has shed light on the perceptions of Corporate Social Responsibility (CSR) which identified in four dimensions of CSR including community, environmental, ethical, and consumer protection responsibilities. Methodology: This paper provides conceptual arguments that allow for better understanding of the role of CSR in the Palestinian society. Findings: The literature on CSR has increased substantially over the past decade, but existing research document mixed and inconclusive results on the role of CSR and firm performance. Implication: Although the link between CSR and firm performance have been studied, a significant research gap remains when considering the relationship between CSR and firm performance in the Palestinian context. This is because the CSR research has been neglected in the context of Palestine. For companies, this study proposes that they should put more efforts on enhancing the role of the CSR. Moreover, this study suggests for the management to re-think and re-strategize their CSR policies to improve their performance