Purpose The purpose of this paper is to investigate the effectiveness of Islamic banks’ corporate social responsibility (CSR) using data collected from stakeholders in Malaysia. While Islamic scholars have developed the Islamic CSR from the Qur’anic verses, the Sunnah of the Prophet (SAW) and from the western ideologies, the focus of this paper is to assess the effectiveness of the developed Islamic CSR practices. Design/methodology/approach Quantitative research design was adopted for this study. Exploratory factor analysis, confirmatory factor analysis, and other analyses are performed on the data collected from 193 stakeholders in Malaysia. Findings Based on the data collected and analyzed, the results show that stakeholders view the Malaysian Islamic banks’ CSRs as effective. Research limitations/implications This study investigates the effectiveness of Malaysian Islamic banks’ CSR based on the survey data collected. However, future studies could explore this in greater depth using mixed methods. Practical implications The research findings have great implications for researchers. Since this study is among the few research studies that investigate the effectiveness of Islamic CSR, the researchers have paved ways for further investigation in this area. In addition, the study encourages the Malaysian Islamic banks and other Islamic financial institutions to contribute more to the society. Originality/value The study examines the effectiveness of Islamic banks’ CSR and contributes to the growing discussions on the Islamic CSR. The study has opened up this area for further investigations by other researchers.
This study focused on the impact of crude oil, crude palm oil spot and futures of prices on African equity markets. It draws on daily data from January 2000 till July 2013, obtained from Bloomberg. The study employed Vector Error Correction (VEC). Findings from the econometric analysis show that there is relativity in the speed of adjustment among such countries' equity market index as Mauritius, whose economic backbone is tourism, which responded faster compared with other ' equity markets. Kenya's equity market index responded positively relative to those of Morocco and Nigeria, while South Africa's equity market responded slowly, unlike other equity markets. The implication of Morocco and Nigeria's equity markets adjusting slowly to the shock from crude oil market crisis was due to a high dependence of the governments of both countries on crude IBRAHIM. A.O. BAKARE et al. 32oil revenues in financing their economic activities. The study shows the existence of a long-term relation between crude oil, crude palm oil spot and futures prices on equity markets. The VECM Granger causality test was applied to examine the association and impact among these variables. The results indicate that crude oil spot and futures price granger influence the equity markets of Mauritius, Kenya and Morocco, while futures prices of crude oil granger impact Nigeria's and South Africa's equity markets.
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