The basic notion of Corporate Social Responsibility (CSR) is that not only the shareholders but all...

The basic notion of Corporate Social Responsibility (CSR) is that not only the shareholders but all groups of society should be given a share from earnings of corporation. Suggest any THREE (3) activities that can be carried out by an Islamic financial institution by giving a relevant example for each.

Expert Solution

An Islamic financial institution works on basis of Islamic shariah (Islamic law) that primarily does not involve interest (riba) into its dealings.

Various groups of socities that are stakeholders to an islamic financial institution include employees and unions working in it, investors, government, borrowers and general public.

The following activities could promote the interest of stakeholders other than owners(shareholders) under CSR activities -

1) Sponsoring welfare activities or programs such as projects to help needy and handicapped children in society.

2) Fixing a specific quota to lend money to marginal and small borrowers for their businesses and personal reasons.

3) Contributing a specific ratio of institution's profit/revenue to promote interest of employees such as creating and maintaning medical support for staff and workers.

Take ideas from above three points and mould your answer accordingly, Fear God and dont cheat in exams.

Rahul Sunny answered 1 year ago

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