Developing an Islamic corporate social responsibility model (ICSR)

What is it about?

Purpose–The purpose of this study is to develop an Islamic corporate social responsibility (ICSR) model. Design/methodology/approach–Based on Qur'anic verses and previous literature, the authors aim to develop an ICSR model with an extension of the corporate social responsibility (CSR) theory of Carroll (1979). Findings–This study extends the theory of Carroll (1979) using an operational definition of CSR that encompasses the economic, legal, ethical and philanthropic dimensions of CSR from an Islamic perspective.

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Why is it important?

Much of the contemporary discussion of CSR has been largely based on a Western orientation. However, Islam influences business and socioeconomic life in a manner that is similar to conventional understandings of CSR (Rice, 1999). There is a need to develop a framework that encompasses the Islamic perspective and that explores the compatibility between Western and Islamic CSR practices in both financial institutions (e.g. banking) and other sectors, such as manufacturing, trading, and services.

Perspectives