Islamic Approach to Corporate Social Responsibility in Scientific Research with CSR Overview in Banking Sector of Bosnia and Herzegovina

Hanić, Aida; Efendic, Velid

doi:10.1007/978-3-030-34420-7_3

Cited by 2 publications

(2 citation statements)

References 25 publications

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“…In other words, God is one of the stakeholders because he is permanent, eternal and absolute (Schwartz, 2006). Third, despite the growing literature on CSR, the Islamic approach to this concept is not present enough in the research context (Hani c and Efendic, 2020). At the same time, some of the existing studies primarily discuss the Islamic approach to CSR, using Islamic ethical principles but from the overall perspective, not focusing on a specific industry.…”

Section: International Model For Islamic Banksmentioning

confidence: 99%

Islamic approach to corporate social responsibility: an international model for Islamic banks

Hanić

Smolo

2022

IMEFM

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Purpose This study aims to present a corporate social responsibility (CSR) model that would apply to Islamic banks, considering the international aspect of social responsibility because CSR is not applicable in the same way in all types of societies. Design/methodology/approach Based on the extensive review of the existing literature, the authors aim to present an Islamic CSR model applicable to Islamic banks. This study is based on the international approach to CSR developed by Masoud (2017). Each responsibility has an equal share but with specific changes regarding the order of priorities between them and the type of responsibility. Findings The findings show that the existing literature provides several Islamic CSR models. Most of these models are general and offer guidelines to Islamic financial institutions, but no model applies exclusively to Islamic banks. Using these models for Islamic banks is challenging because of their specific business activities, especially in non-Muslim countries. This study proposes a model that could act as the main guideline for Islamic banks with enough flexibility to meet different market and stakeholders’ requirements. Practical implications The model was not tested on a sample, and not all Islamic principles were considered. However, it is applicable for Islamic banks, especially considering internationalization in their businesses and the further development of Islamic banking. At the same time, this model puts ethical norms in the spotlight. This is particularly emphasized in the case of non-Muslim countries or in societies where a particular law does not regulate Islamic bank activities. Originality/value Although there is a growing literature on this topic, existing studies primarily discuss the Islamic approach to CSR from the overall perspective, not in a specific industry. While some authors developed their own Islamic CSR models relying on the primary Shariah sources, others base their proposals on other classical CSR ideas. To the best of the authors’ knowledge, this is the first study based on the CSR model developed by Masoud (2017), considering the relationship between economics and religion and the implications of the Islamic moral economy.

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Section: International Model For Islamic Banksmentioning

confidence: 99%

Islamic approach to corporate social responsibility: an international model for Islamic banks

Hanić

Smolo

2022

IMEFM

View full text Add to dashboard Cite

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“…These practices provide a structured framework for assessing the financial health and performance of banking institutions (Bătae, Dragomir & Feleagă, , 2021). In the context of BiH, where the financial sector plays a vital role in economic development and public trust(Hanić & Efendic, 2020), the systematic evaluation of banks based on financial indicators is of paramount importance.…”

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confidence: 99%

Assessing the Banking Sector of Bosnia and Herzegovina: An Analysis of Financial Indicators through the MEREC and MARCOS Methods

Mastilo,

Štilić,

Gligović

et al. 2024

Journal of Central Banking Theory and Practice

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The banking sector assumes a pivotal role in the economic development of nations. The assessment of financial indicators pertaining to banks holds fundamental importance in the evaluation of bank stability and sustainability. This research employs the MEREC (Method based on the Removal Effects of Criteria) and MARCOS (Measurement of Alternatives and Ranking according to COmpromise Solution) methodologies to delve deeper into the financial landscape of the banking sector in Bosnia and Herzegovina (BiH). Specifically, the objective is to rank banks according to their financial indicators, utilizing financial data from the year 2022. The MEREC method is applied to gauge the significance of financial indicators and ascertain their respective weights, while the MARCOS method is employed to rank banks within BiH based on their financial indicators. The examination of financial indicators within the BiH banking sector, facilitated by the MEREC and MARCOS methodologies, yields a more comprehensive understanding of the sector’s present condition. Limitations of this research, which primarily stem from its reliance on available financial data and predefined methodologies, lies within limited consideration for external factors. To provide a broader contextual perspective, the inclusion of additional financial indicators and comparative analyses with banking sectors of other nations would be imperative. The findings of this research reveal that Raiffeisen Bank exhibits the most favourable financial indicators and demonstrates the highest level of efficiency within this context. Consequently, this research offers insights into identifying exemplary banks that can serve as models for enhancing the performance of others.

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Islamic Approach to Corporate Social Responsibility in Scientific Research with CSR Overview in Banking Sector of Bosnia and Herzegovina

Cited by 2 publications

References 25 publications

Islamic approach to corporate social responsibility: an international model for Islamic banks

Islamic approach to corporate social responsibility: an international model for Islamic banks

Assessing the Banking Sector of Bosnia and Herzegovina: An Analysis of Financial Indicators through the MEREC and MARCOS Methods

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