Social responsibility of Islamic banks in developing countries: empirical evidence from Egypt

Elhassan Kotb Abdelrahman Radwan*, Nada Omar, Khaled Hussainey

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

This study explores Islamic banks’ role in Social Responsibility (SR) in developing countries by focusing on the Faisal Islamic Bank of Egypt (FIBE) as a case study. The paper provides a brief overview of the concept, dimensions, and areas of SR, nature of Islamic banks, the concept of Corporate Social Responsibility (CSR) in Islamic banks, also outlines how the Islamic banks support the social enterprises with some examples of such enterprises that supported by FIBE. The analysis shows that Islamic banks in general and FIBE, in particular, play an effective role in SR and enhance the development of social enterprises. The study concluded that FIBE has allocated huge funds for SR through participating in several social initiatives and activities, besides Qard-Hasan for needy citizens and its Zakat Fund.

Original languageEnglish
JournalJournal of Sustainable Finance and Investment
Early online date15 Jul 2021
DOIs
Publication statusEarly online - 15 Jul 2021

Keywords

  • Faisal Islamic Bank of Egypt
  • Islamic banks
  • social enterprises
  • social responsibility

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