"Islamic Finance Researches" (IFR)

Social Responsibility in Islamic Banking; a Model for Influencing Society

Document Type : Science - Research (Islamic Banking)

Authors

1 Ph.D. Candidate of Administrative Management, Management Department, Ardabil Branch, Islamic Azad University, Ardabil, Iran

2 Assistant Professor, Management Department, Ardabil Branch, Islamic Azad University, Iran

Abstract

Social good is beyond the normal functioning of organizations based on legal requirements, so that some describe it as the impact of organizations' behavior on society and some as a process of merging organization and society.  Islamic banking, therefore, which is derived from Islamic and jurisprudential contracts, takes responsibility as a basic principle for a comprehensive understanding of the internal relationship between the bank and society. This lasting commitment resulting from ethical behavior leads to the development of the quality of life of individuals and the economic development of the country, which unfortunately has not received due attention. The purpose of this article is to explain this concept in the Islamic banking system in Iran. Findings show that among the four dimensions studied (legal, economic, benevolent and moral), moral responsibility has the highest functionality, which reflects environmental expectations.

Keywords

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Volume 11, Issue 1 - Serial Number 21
February 2021
Pages 333-362
  • Receive Date: 28 November 2021
  • Revise Date: 01 April 2022
  • Accept Date: 09 April 2022