Maqasid al-Shariah in CSR practices of the Islamic banks: a case study of IBBL

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Maqasid al-Shariah (the objectives of Islamic law) are meant to guide and benefit mankind in this world and the Hereafter. The Corporate Social Responsibility (CSR) activities focus on the welfare of the society at large and can also serve the objectives of the Shariah. This research focuses on the CSR activities of the leading Islamic bank in a developing country - Bangladesh. The study is based on the CSR activities of Islami Bank Bangladesh Limited (IBBL) - the oldest and largest Islamic bank of Bangladesh. The analysis is done on the basis of the requirements of Maqasid al-Shariah. The study is based on secondary data. It conducted content analysis of eight year annual reports (2009 to 2016) of the bank. The main areas where the bank is performing its CSR activities are identified. Then an analysis is done according to the levels of Maqasid al-Shariah (necessities, complements and embellishments). It is found that most of the CSR activities and expenditures of the bank are dedicated to the necessities. And, activities representing embellishments received slightly more importance than the activities representing complements. The contribution of the study is unique in nature since there is no prior empirical study that assesses the CSR in light of Maqasid al-Shariah in the Bangladeshi context.
Maqasid al-Shariah , CSR , IBBL , Bangladesh , Case study
Md. Tarique, K., Ahmed, M. U., Hossain, D. M., & Momen, M. A. (2017). Maqasid al-Shariah in CSR practices of the Islamic banks: a case study of IBBL. Journal of Islamic Economics, Banking and Finance, 13(3), 47-67.
Islamic Bank Training and Research Academy

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