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Socially responsible investment: Insights from Shari'a departments in Islamic financial institutions

Show simple item record Ullah S. Jamali D. Harwood I.A.
dc.contributor.editor 2014 2017-09-07T07:51:35Z 2017-09-07T07:51:35Z 2014
dc.identifier 10.1111/beer.12045
dc.identifier.issn 09628770
dc.description.abstract Islamic financial institutions (IFIs) are emerging as prominent players in the financial world and are increasingly known for their conservative socially responsible investment (SRI). Being the Shari'a regulators and monitors of IFIs, the Shari'a departments are expected to implement the Islamic perspective of SRI - drawn from Shari'a principles - in their respective institutions. The purpose of this paper is to develop an SRI framework applicable to IFIs and other Shari'a compliant entities and assess its applicability within Shari'a departments of two Islamic banks. This paper involves cross-case analysis based on interviews with Shari'a department officials in two settings differentiated by their respective independence. The proposed framework consists of required, expected and desired SRI aspects as applicable to IFIs. The findings reveal that the required aspects are uniformly observed by the two cases. There are, however, variations when it comes to observing the expected and desired ethical SRI aspects that may be driven by the independence of the Shari'a boards. This inconsistency and non-adherence of expected and desired aspects may lead to reputational risks in the long run. © 2014 The Authors. Business Ethics: A European Review © 2014 John Wiley and Sons Ltd.
dc.format.extent Pages: (218-233)
dc.language English
dc.publisher Wiley-Blackwell Publishing Ltd; HOBOKEN
dc.relation.ispartof Publication Name: Business Ethics; Publication Year: 2014; Volume: 23; no. 2; Pages: (218-233);
dc.source Scopus
dc.title Socially responsible investment: Insights from Shari'a departments in Islamic financial institutions
dc.type Article
dc.contributor.affiliation Ullah, S., Department of Banking and Finance, Institute of Management Sciences, Peshawar, Pakistan
dc.contributor.affiliation Jamali, D., Suliman S. Olayan School of Business, American University of Beirut, Lebanon
dc.contributor.affiliation Harwood, I.A., School of Management, University of Southampton, United Kingdom
dc.contributor.authorCorporate University: American University of Beirut; Faculty: Suliman S. Olayan School of Business; Department: School of Business;
dc.contributor.authorDepartment School of Business
dc.contributor.faculty Suliman S. Olayan School of Business
dc.contributor.authorInitials Ullah, S
dc.contributor.authorInitials Jamali, D
dc.contributor.authorInitials Harwood, IA
dc.contributor.authorReprintAddress Ullah, S (reprint author), Inst Management Sci, Dept Banking and Finance, Peshawar, Pakistan.
dc.contributor.authorUniversity American University of Beirut
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dc.description.citedTotWOSCount 0
dc.description.citedWOSCount 0
dc.format.extentCount 16
dc.identifier.scopusID 84898658788
dc.publisher.address 111 RIVER ST, HOBOKEN 07030-5774, NJ USA
dc.relation.ispartOfISOAbbr Bus. Ethics
dc.relation.ispartOfIssue 2
dc.relation.ispartofPubTitle Business Ethics
dc.relation.ispartofPubTitleAbbr Bus. Ethics
dc.relation.ispartOfVolume 23
dc.source.ID WOS:000332148400007
dc.type.publication Journal
dc.subject.otherKeywordPlus CORPORATE GOVERNANCE
dc.subject.otherKeywordPlus BUSINESS
dc.subject.otherKeywordPlus SPIRITUALITY
dc.subject.otherKeywordPlus CULTURE
dc.subject.otherKeywordPlus ETHICS
dc.subject.otherWOS Business
dc.subject.otherWOS Ethics

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