Purpose
The purpose of this paper is to extend the literature on Islamic banking by examining their ethical dimension using transparency, placement of assets, guarantees and participation from Radical Affinity Index.
Design/methodology/approach
To this end, a sample of 20 Islamic banks from 13 countries (Bahrain, Saudi Arabia, Malaysia, Pakistan, Kuwait, Tanzania, Great Britain, Oman, Iraq, Egypt, Bangladesh and Qatar) was used.
Findings
The results are robust to ethical effects. The evidence suggests that among Islamic banks, at least some of them could improve their ethical requirements of the Sharia; they obtained lower scores than ethical banks in terms of RAI variables (transparency, placement of assets, guarantees and participation).
Research limitations/implications
It is used a random sample rather than population with the limitations that entails. The variables in the index are based on ethical perspective; then, the index is applied in Islamic banking but with the ethical view limitation.
Practical implications
The Islamic banks have the option to increase their transparency including further information regarding the beneficiaries of the benevolent funds; moreover, it would offer a clearer view about their ethical and social commitment towards society.
Originality/value
Additionally, this paper broadens the scope of the literature by analysing the determinants of Islamic banking around ethical dimensions of financial entities.
The consolidation of the end of ETA's terrorist activity has opened a new time for the Basque society. Nevertheless, the effects of victimization still require particular care from the public institutions, the efforts of which should be now focused on truth, and against oblivion and impunity. Obviously, due to its own features, extension and political meaning, the victimization generated by ETA has deserved the most important attention. Justice requires, however, facing torture and other serious breaches of human rights by other actors that have also taken place and whose victims have equally a full right to truth, justice and integral reparation. Concerning the guarantees of non-repeat, delivery of weapons and dissolution appear as the main requirement concerning ETA's terrorism. In relation to torture and abuse of power, the approval by the Basque Parliament of an Act of prevention of torture and ill treatment and of integral reparation of the victims of abuse of power should deserve a thorough consideration.
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