...thought of financial institutions even of the developed countries in the west. On the other hand the recognition of importance of corporate social activities in the business organizations as well as in financial institutions has accelerated the significance of Islamic banks as in Islam these CSR practice have been emphasized in different ways. Likewise the Islamic financial institutions all over the world, Islamic banks in Bangladesh are also being engaged in various social activities as a part of their responsibilities. In this study it has been tried to find out whether the Islamic Banks of Bangladesh are adhering to the prescribed forms of the CSR activities or not. This paper is mainly designed based on the CSR forms to be followed by Islamic banks as has been prescribed by Farook (2007) in his study “On Corporate Social Responsibility of Islamic Financial Institutions” under the light of Islamic Shariah. The research found compliance to the mandatory forms by the 6 full fledged sample Islamic banks in Bangladesh whereas variety in involvement in recommended forms of CSR activities by considering the scenario of banks from 2007 to 2011. The study also finds a strong positive correlation between CSR expenditure and sample banks’ deposit, loan and profitability. Keyword: Corporate social responsibility, Islamic banking. 1. Introduction The practice of Corporate Social Responsibilities in corporate world as well as financial institutions has brought a new shape to the social...
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...is to explore the opportunities of using halal regulation and certification as a mechanism for applying Islamic business ethics in contemporary world. Design/methodology/approach – The current practices of halal regulation and certification and literature on Islamic ethics were reviewed, to identify a practical approach for Islamic business ethics. Findings – Islam allows and accepts different levels of ethical commitment. A multi-level Islamic ethics framework and a multi-level halal certification approach are proposed to facilitate the implementation of Islamic business ethics in a relative context. Two major developments can enrich halal business practices: harmonization of global standards and governance structure, and integrating responsibility and ethical issues in halal standards. Practical implications – The proposed framework and developments can enrich halal regulation and certification practice. Originality/value – The paper emphasizes the importance of flexibility and adaptability in Islamic business ethics implementation, and proposes a new framework and approach to apply Islamic business ethics. Keywords Islam, Business ethics, Social responsibility, Corporate governance, Islamic ethics, Halal, Corporate responsibility Paper type Research paper Journal of Management Development Vol. 31 No. 10, 2012 pp. 1090-1100 r Emerald Group Publishing Limited 0262-1711 DOI...
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... This social concern has given the birth of corporate social responsibility (CSR). While the concept of CSR is widely accepted, there is no single, universally accepted definition of CSR. Generally, it refers to business decision-making linked to ethical values, compliance with legal instruments, and respect for people, communities and the environment. CSR has been defined as “the integration of business operations and values whereby the interests of all stakeholders, including customer, employees, investors and the environment are reflected in the organization’ polices and actions” (Smith,2002). An international survey of corporate sustainability reporting conducted by KPMG in 2002 found that 45%of the world’s largest 250 companies now produce environmental and social reports, up from 35% in 2000. This survey shows how much disclosure of CSR is expanded. The companies have to satisfy the divergent number of stakeholders, the credible relationship is created through CSR reporting. It improves communication with the community and other stakeholders (Anand, 2002) and results in competitive advantage (King, 2002). CSR through ensuring better and safe working environment, elimination ofcorruption, focusing of human rights and environmental sustainability are now recognized as essential factors for the sustainable development of societies (Raihan et. al., 2002). The present study mainly visualizes CSR information in the selected private commercial banks (PCBs) of Bangladesh. For...
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...profit is used as a basis of performance measurement. 2. Non-shariah compliant * Practice interest in business transactions 3. Distribution of wealth among shareholders. * Shareholders are the owner of the company. | 1. Zakat-oriented. * Payment of Zakat is used as a basis of performance measurement. 2. Shariah compliant * Riba’-free system and according to Qur’an and Hadith 3. Distribution of wealth among stakeholders and the society through zakat. * Stakeholders are all the people that have direct or indirect interest towards the well-being of the company. * Through zakat, companies can help in solving contemporary Ummah’s (society) problems. | (Article 4, Page 84-86) b) Corporate social responsibility (CSR) reporting is increasingly important...
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...Arthur Anderson case was a result of the fraudulent activities that lead to its termination. Certainly this kind of case is expecting not to be happened in the future. Design/methodology/approach – The paper adopts the descriptive analysis and elaboration of the important element of the Islamic principles used in the accounting process. Furthermore, this paper attempt to make clear distinction between values underlying the Islamic accounting and that of the conventional accounting. Findings – the comparison of those two systems leads to the conclusion that the value in Islam such as honest, fair, truth (which is important in the Islamic accounting process) has more meaning than the similar value of in the conventional accounting. Hold firmly the Islamic value obviously leads to the decrease fraudulent practices and other unexpected activities. Moreover, it increases the social welfare of the stakeholders as Islam requests people to bring as much as benefit to other community. Practical implication – The implication is that the current conventional modern accounting value must be redefined to bring the stakeholders in getting more benefit and creating less damage to the society. The reporting value should provide information to the stakeholders on the current...
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...INTERNATIONAL ISLAMIC UNIVERSITY OF MALAYSIA KULIYYAH OF ECONOMICS & MANAGEMENT SCIENCES (KENMS) DEPARTMENT OF ACCOUNTING ACC 4563: ZAKAT ACCOUNTING THE PRIORITY OF DISTRIBUTING THE ZAKAT AMOUNT TO THE EIGHT BENEFICIARIES BASED ON FOUR PHASES (4 FASA) Lecturer’s Name: ASSOC. PROF. DR. SITI NORMALA SHEIKH OBID Prepared By: ABDUL HADI BIN MOHAMAD, 0813783 MUHAMMAD AZFAR BIN KAMAR RUDDIN, 0811067 MOHD. ZAE’EM KHAN BIN MOHAMAD AZLAN, 0621747 Section No: 1 ABSTRACT This paper aims to study the distribution of zakat during the Prophet, companion, khalifah and contemporary time, and examine the priority among eight asnaf in distributing the zakat amount. The study was conducted by analyzing secondary data including books, journal, and article. The study revealed that effective and efficient of zakat administration including method and ways of distribution of zakat become important indicator on the successful Islamic era. Misused of zakat fund had leaded previous khalifah reign stumble. (Keyword: Prophet, khalifah, companion, contemporary time, zakat administration, eight asnaf) TABLE OF CONTENTS CONTENT | PAGE | Chapter 1: Introduction | | 1.1 Study of Background | | 1.2 Research Questions | | 1.3 Research Objectives | | Chapter 2: Literature Review | | Chapter 3: Methodology | | Chapter 4: Findings and Discussions | | Chapter 5: Conclusion | | 5.1 Summary and Implications | | 5.2 Limitations | | References |...
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...CENTRE FOR LANGUAGES AND PRE-UNIVERSITY ACADEMIC DEVELOPMENT LE4600 – English for Occupational Purposes Group Project: Compilation of Reports Section : 5 Group Members Khairul Bariyah Binti Abdul Rahim 1029528 Siti Nor Adrina Binti Nor Sidek 1014022 Izyan Izzati Binti Mohamad 1029132 Zurina Binti Abdillah 1125176 Prepared for: Foziah Binti Rahman Table of CONTENTs Corporate Profile 3 Minutes of Meetings 7 Field Trip Report 14 Recommendation Report 17 Letter of Transmittal 22 Proposal 25 Appendix 37 Corporate Profile CORPORATE PROFILE Company Name | Sunshiniem Sdn. Bhd. | Type of Business | Event Management | Address | B810, Tingkat 1, Jalan Bukit Ubi, 25200 Kuantan, Pahang | Contact | +609-33345345 | Vision | We aimed to be a leading event management company whom delivering quality services at affordable prices. | Mission | * Consistency: To provide services that are consistent in preparation and executions * Friendliness: To give friendly and reassuring customer services by putting our customers first before everything else * Responsible: To be strict in carrying out our duties and responsibilities towards our customers and services. * Reliability: To provide services those are constantly on time and reliable towards our customers. | Service Offered | * Consultancy on event ideas and advices * Volunteering efforts | Type of clients | * Small firms * Non‐profit organizations * Schools...
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...Corporate Social Responsibilities | | | | | | | | |Al-Arafah Islami Bank Foundation : | | | | | | | |The Bank has a Foundation launching philanthropic activities. Al-Arafah Islamic International School & College and Al-Arafah Islami Bank Library are major | |two wings for launching philanthropic activities. | | ...
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...Corporate Social Responsibility and Accounting - A Literature Review Master thesis in Financial Accounting Fall semester 2012 Supervisor: Kristina Jonäll Author: Ulla-Christel Götherström Abstract Master Thesis in Financial Accounting, School of Business, Economics and Law, University of Gothenburg, fall semester 2012 Author: Ulla-Christel Götherström Supervisor: Kristina Jonäll Title: Corporate Social Responsibility and Accounting - A literature review. Background and problem: Corporate Social Responsibility (CSR) is an area which has gained much attention the last 10-15 years. To satisfy various stakeholders, corporate social responsibility has increased its importance and often constitutes a substantial part of the firms´ financial reports, in spite of the fact that there are no legal requirements. However, to perform strategic CSR-reporting has become more or less compulsory for firms. The research question is: What research has been performed in the area of corporate social responsibility and accounting? Aim: The aim is to provide a structured overview of the literature in the area of corporate social responsibility and accounting regarding the years 2002-2012. The overview will provide a basis for future research and constitute a framework for focused research question. Delimitation: The focus of this study is on research published in scientific journals from 2002 until 2012. Method: A literature review was performed including peer-reviewed papers...
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...Securities Berhad in terms of market capitalisation. * British American Tobacco Malaysia manufactures and markets high quality tobacco products designed to meet diverse consumer preferences. Their portfolio includes well-established international names such as Dunhill, Kent and Pall Mall.Q1. Explain what is CSR * Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. * Kilcullen corporatn and Kooistra (1999, p.158) defined CSR as ‘the degree of moral obligation that may be ascribed to corporations beyond simple obedience to the laws of the state. * However, Maignan and Ferrell (2004) trace the evolution of perspectives on CSR from its emergence in the 1950s as 1. Social Obligation 2. Stakeholder Obligation * CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives as mentioned in Triple-Bottom-Line- Approach, while at the same time addressing the expectations of shareholders and stakeholders. * In this sense it is important to draw a distinction between CSR, which can be a strategic business management concept, and charity, sponsorships or philanthropy. Even though the latter can also make a valuable contribution to poverty reduction, will directly enhance the reputation of a...
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...Understanding the concept of CSR in Indian context, India holds the world’s richest tradition of corporate social responsibility. The phenomena of CSR may be new to India, but the concept dates back to Mauryan Dynasty, where philosphers like Kautilya focused and gave importance to ethical behavior, values, and principles while performing the activity of business. In India, different religions had a different way of practicing CSR. In Islam, there was a law called Zaakat, where a part of one’s earning must be shared with the poor people of the society in the form of charity and donations. The Hindus believed in a practice called Dharmada where the manufacturers or sellers charged a specific amount from the purchaser/buyer, which was used for charity purposes. In the same fashion, Sikhs followed Daashaant. It can be said that the history and evolution of CSR in India runs parallel to the historical development in India. CSR has unfolded in different phases like production, community engagement and employee relations. CSR focuses on wealth generation for the maximum benefit for the parties associated with it like employees, shareholders, customers, suppliers, environment and society. Benjamin Franklin has aptly said that “It takes 20 years to build a reputation and...
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...teletalk.com.bd/profile/csr.html CSR (Corporate Social Responsibility) During the financial year: Teletalk believes in the empowerment of the people as well as the power inherent in all of us to collectively enforce positive change in our own lives. As a company still in its early years, Teletalk Bangladesh Limited still engaged itself in several CSR activities. Notables among them during the financial year have been described below: 1.Teletalk has established a short code SMS helpline for children with disability/diseases The “666 – Helpline for Children” was established with a view to create a specialized fund for children with dire need of financial assistance. All SMS sent to this number will be charged and the amount will be retained in a special fund. This fund will be used for rehabilitation / treatment of the children. 2. Children’s art initiative Teletalk has created an unique outlet to acknowledge and encourage children’s art. With association from “Talent Promotion Initiative” Teletalk has arranged a children’s art competition, where children have engaged in a day long painting competition with Bangladeshi seasonal themes. Teletalk Bangladesh Limited then published a special “Billboard Calendar” based on selected pictures from the competitions. 3. Blanket Distribution Program In Rangpur district Teletalk distributed 500 (Five Hundred) pieces of Blankets to the distressed people in the winter through Anjuman Mofidul Islam. 4. Medical Treatment for...
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...due to the challenges meeting the financial institutions (particularly, Islamic banking) around the world. This paper examines the influence of the board of directors’ characteristics, consisting of board size, board composition, and the separation roles of CEO and chairman, on corporate social responsibility (CSR) disclosure in 53 annual reports of Islamic banks of Gulf Cooperation Council (GCC) countries after controlling of bank size, financial performance and relevant public. Based on the framework of legitimacy theory, the findings show that CSR disclosure has a negative and insignificant relationship with board composition. On contrast, the study found insignificantly and positive association between CSR disclosure and other characteristics of board of directors (board size and the separation roles of CEO and chairman). With regards control variables, the study indicates that bank size and financial performance have a positive and significant influence on CSR disclosure, while relevant public has no effect. Therefore, the results indicate that corporate governance structure of board of directors within Islamic banks of GCC region does not play a major role on CSR disclosure, because of family control. These findings suggest the need for improving the existence of the best practice of corporate governance for Islamic financial institutions by imposing additional constraints on the board of directors’...
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...‘Removing ten barriers to implementing CSR in Bangladesh’ Barrier A – CSR is thought to be American protectionism – the USA labour unions are alleged to be using CSR as an excuse and are trying to force up our production costs and so get jobs back into the USA. Social Responsibility is not a new idea; it has a long history in Asia and in Europe. If CSR is part of a conspiracy to protect jobs in North America (or in Europe) why is it accepted so well and practiced so widely in the West and in so many trade sectors there? Barrier B – Some company proprietors are convinced that the “business of business is business” and so they want NGOs do their community development work and the government to fund schools, colleges, clinics and hospitals - after all that’s why they pay their company taxes and VAT! Companies need a stable society in which to trade, we need healthy, well educated and compliant workers. It’s in the long term interests of the business sector in Bangladesh to improve our corporate futures by investing in the community – in our workers and their communities - if we are to be able to manufacture and sell increasing volumes of our products in Bangladesh. Barrier C – Business owners holding the opinion that spending on CSR is an improper use the company’s hard earned profits (especially in a period of worldwide recession). These proprietors are also of the view that their companies should concentrate on making money for their shareholders and focus on giving the...
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...ADMINISTRATION BY SHIEKH RUMAISA ISLAM QAZAMI ENROLLMENT NO: - MBA12/023 Under The Guidance of SOURABH MUNJAL Assistant Professor NIMS Institute of Management & Computer Sciences NIMS University, Shobha Nagar, Jaipur 303 001 Rajasthan INDIA. NIMS INSTITUTE OF MANAGEMENT AND COMPUTER SCIENCES Jaipur – 303 121 RAJASTHAN BONAFIDE & FORWARDING CERTIFICATE It is certified that the SHIEKH RUMAISA ISLAM QAZAMI D/O Mr. SHIEKH AB GANI is a bonafide student of this institute with enrolment number MBA12/023. Based on the written consent of the faculty guide SAURABH MUNJAL (Assistant Prof.) we are forwarding his project report titled “EMPLOYEE EMPLOYEE RELATIONSHIP AT J&K BANK CO. SRINAGAR AN ANALYTICAL STUDY” for further evaluation to The Controller of Examinations NIMS University, Jaipur Rajasthan. Dr. Sudhinder Singh Chowhan ------------------------------------------------- Vice-Principal Certified that this dissertation is approved in quality and form Chairman External Examination Committee External Examiner-I External Examiner-II NIMS INSTITUTE OF MANAGEMENT AND COMPUTER SCIENCES Jaipur-303121 Rajasthan Faculty Guides Certificate This is to certify that the dissertation titled “EMPLOYEE EMPLOYER RELATIONSHIP AT J&K BANK CO. SRINAGAR AN ANALYTICAL STUDY” is a bonafide work done by SHIEKH RUMAISA ISLAM QAZAMI D/O Mr. SHIEKH AB...
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