Disclosing CSR by Islamic banks: does Jaiz Bank Nigeria, Plc adopt the practice of Islami Bank Bangladesh Limited?

Umar, Umar Habibu; Musa, Sulaiman

doi:10.1108/srj-02-2019-0084

Cited by 15 publications

(35 citation statements)

References 19 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…First, it is the most populated nation in Africa with about 200 million people dominated by Muslims. Second, the Islamic finance industry in the country is continuously expanding, as one more Islamic bank called Taj Bank Limited emerged lately in 2019 (Umar and Musa, 2020). Third, Nigeria is a member of many prime movers of Islamic finance in the world such as the Islamic Development Bank (IsDB), the Islamic Financial Service Board (IFSB) and the International Islamic Liquidity Management Corporation (IILM).…”

Section: Introductionmentioning

confidence: 99%

Do academic and professional institutions promote the awareness and knowledge of Islamic banking and finance in Nigeria?

Umar

Abubakar

Baita

et al. 2021

JIABR

Self Cite

View full text Add to dashboard Cite

Purpose The purpose of this study is to examine the contribution of academic and professional institutions in promoting the awareness and knowledge of Islamic banking and finance in Nigeria. Design/methodology/approach The data were generated through a documentary research method by examining the Benchmark Minimum Academic Standards (BMAS) for Nigerian universities and Nigerian university curricula for the relevant undergraduate programs, as well as examination syllabi and training brochures for the relevant professional associations. Findings The study found that universities do not promote significantly the awareness and knowledge of Islamic banking and finance. Similarly, the relevant professional associations through their examinations and training programs contribute little or nothing to the promotion of awareness and knowledge. Research limitations/implications This study solely relied upon documentary evidence upon which the findings were based. In addition, for academic institutions, only undergraduate BMAS and curricula were examined. Practical implications There should be collaborations between the National University Commission of Nigeria, relevant Islamic and non-Islamic professional bodies and Nigerian Universities to ensure that courses (subjects) that could promote the awareness and knowledge of Islamic banking and finance are fully integrated into academic and professional curricula and training programs. Social implications The integration of an adequate number of relevant courses/topics into academic curricula and professional institution examination syllabi and their Mandatory Continuing Professional Development programs would greatly contribute to the production of competent and skillful employees to work for the growth and development of the Islamic banking and finance industry. Originality/value This study provides better ways of ensuring that knowledgeable and qualified employees are produced to work for the sustainability of the global Islamic banking and finance industry.

show abstract

Section: Introductionmentioning

confidence: 99%

Do academic and professional institutions promote the awareness and knowledge of Islamic banking and finance in Nigeria?

Umar

Abubakar

Baita

et al. 2021

JIABR

Self Cite

View full text Add to dashboard Cite

show abstract

“…In addition, we also include four control variables: TYPE denotes if the IFF is a fully Islamic firm or an Islamic window. Umar and Musa (2020) compared CSR adoption between a non-Islamic Nigerian bank and a Bangladeshi Islamic bank. They showed that the non-Islamic Nigerian bank did not adopt CSR disclosure despite receiving significant technical assistance from Bangladesh’s Islamic bank.…”

Section: Methodsmentioning

confidence: 99%

Executives’ observance of zakat among Islamic financial institutions: evidence from Bahrain and Malaysia

Poon¹,

Chow²,

Ewers³

et al. 2021

JIABR

View full text Add to dashboard Cite

Purpose The purpose of this paper is to examine the influence of Shariah board members and managerial networking on zakat observance among executives of Islamic financial firms (IFFs) in Bahrain and Malaysia. Design/methodology/approach The methodology is based on surveys administered to 106 respondents and personal interviews conducted with individuals holding management positions in IFFs. Findings The paper finds that: networking among IFF executives in Bahrain positively influences their observance and perception of zakat in their firms; and higher representation of Shariah on the board of directors increases executives’ favorable perception and observance of zakat in Malaysia. Differences in findings may be explained by Bahrain’s global Shariah institutions where networking offers opportunities for socialization of zakat ethics. In Malaysia, on the other hand, Shariah directorship sets the pace and direction of zakat ethics. Originality/value The seminal work of DiMaggio and Powell (1991) on neo-institutional theory has drawn attention to executives’ agency in creating cognitive frameworks that help promote the development of firm standards and norms. However, application of the theory to Islamic finance is largely absent. This paper contributes to an empirical understanding of the theory by highlighting sources of IFFs’ social agency in the development of zakat norm and its observance, namely, managerial networking and Shariah directors as change agents.

show abstract

“…The previous study of Ali and Rahman (2015) and Umar and Musa (2020) on Islamic banks in Bangladesh revealed that CSR activities give emphasized on the contribution to community development, social enhancement, education, health, culture and environment. The study of Rana et al (2012), Ali and Rahman (2015), and Ahmed (2013) on conventional banks in Bangladesh identified that CSR activities give emphasized the contribution for improving social relations, environmental benefits, education, health, community development, art, sports and culture.…”

Section: Dimensions Of Corporate Social Responsibility Activities By ...mentioning

confidence: 99%

“…Ali and Rahman (2015) highlighted the CSR activities of Islamic Banks in Bangladesh are health, education, relief, disaster, environment, social welfare, culture and sports. Another study by Umar and Musa (2020) showed that Islamic banks in Bangladesh are giving benefits through their CSR activities in community development, disaster relief, education, environment and health. From the earlier discussion, it is immense to measure the CSR performances based on social, economic and environmental responsibilities.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Some studies (Ullah and Rahman, 2015; Ali and Rahman, 2015; Miah et al , 2019) have identified the impacts of CSR activities of banks based on the information of annual reports. Again, other studies have revealed CSR impacts of Banks based on different perspectives like expenditure for community development and services (Umar and Musa, 2020), the attitude of employees (Rahman et al , 2016) and the perception of employees and clients (Rana, 2015). This is indicating that the previous studies in Bangladesh give little attention to the perception of the beneficiaries for measuring the impacts of CSR activities by banks.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

See 1 more Smart Citation

Corporate social responsibility (CSR) practices in Islamic banks of Bangladesh

Bhuiyan

Darda

Hossain

2021

SRJ

View full text Add to dashboard Cite

Purpose Corporate social responsibility (CSR) influences an organization in deciding its ethical approaches in the corporate practices and also important to maintain sustainable development. Islamic banks are capturing almost 40% of the total bank account holders in Bangladesh and contributing to the socio-economic and environmental development of the country through their CSR activities. The purpose of this paper is to investigate the impacts of CSR activities of Islamic banks for sustainable development in Bangladesh from the perception of the beneficiaries. Design/methodology/approach This study is based on a questionnaire survey of 200 conveniently selected beneficiaries from five purposively selected Islamic banks in Bangladesh. Respondents’ agreement score for various CSR-related activities has been observed in a five-point Likert scale and, finally, to identify the impact of CSR, exploratory factor analysis has been done. Findings Results revealed that respondents are expressing strong agreement for almost all the activities, and they are much satisfied with ongoing CSR activities by Islamic banks, which implies positive attitudes of beneficiaries regarding CSR activities. The results of factor analysis further confirm the perception of respondents toward CSR activities of Islamic banks in terms of social enhancement, education and health, socio-economic well-being and contemporary arts and culture. Originality/value The Islamic banks should enhance their CSR activities for socio-economic development, provide more allocation in education programs, increase sponsorship in sports events and assist in flourishing Bangladeshi arts and culture.

show abstract

Disclosing CSR by Islamic banks: does Jaiz Bank Nigeria, Plc adopt the practice of Islami Bank Bangladesh Limited?

Cited by 15 publications

References 19 publications

Do academic and professional institutions promote the awareness and knowledge of Islamic banking and finance in Nigeria?

Do academic and professional institutions promote the awareness and knowledge of Islamic banking and finance in Nigeria?

Executives’ observance of zakat among Islamic financial institutions: evidence from Bahrain and Malaysia

Corporate social responsibility (CSR) practices in Islamic banks of Bangladesh

Contact Info

Product

Resources

About