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spiritual commitments (Abu Bakar & Md Yusof, 2015). As different to CSR, the ideology of ICSR is
created based on the principles of a religion, i.e. Islam.

i-CSR In Islamic Financial Institutions
Islamic Financial Institutions were developed for the purpose to achieve maqasid al-Shariah. Thus, the
directions of these institutions must contribute directly towards the objectives of Shariah and establish
justice in their operations. CSR activities have long been an essential part of an Islamic bank's value
system, and they are based on the moral and ethical foundations of the Islamic banking industry
(Bukhari, 2020). Based on the study done by Babantunde and Ademiyi (2015), the contributions of
iCSR in Islamic banking were effective in contribution to investment development, human
development, poverty alleviation, and social development perceived by gender. Implementing CSR
principles in Islamic Banking Institutions based on the Qur'an and Sunnah in all Islamic banking
operations would be a vein that drives the people's economy. The objective of Islamic banking is not
only profits for shareholders but also affects the broader context for economic empowerment of
society through all CSR practices. Furthermore, Islamic Insurance or Takaful companies in Malaysia
also express a positive attitude and understanding of the CSR concept (Ahmad et al., 2016).

Conclusion
Islam proposes CSR as part of worship to administer the relationship of Muslims to Allah and other
human beings and achieve al-Falah in this life and the hereafter. The concept of i-CSR emphasized the
more ethical and moral dimension. The adoption of i-CSR can benefit the organizations that target
Muslim consumers. As a result, all corporate players should naturally engage in CSR activities to
fulfil their religious, social, and economic responsibilities to diverse stakeholders such as employees,
customers, shareholders, society, and the environment.

References
Abu Bakar, F., & Md Yusof, M. A. (2015). Islamic concept of corporate social responsibility (CSR) from the
perspective of CSR players at Bank Islam Malaysia Berhad. International Conference on Accounting Studies
(ICAS) 2015, August, 120–127.
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uZ4LqLuCUm6JfiTrg&page=4&doc=191

Ahmad, I., Donia, M. B., & Shahzad, K. (2019). Impact of corporate social responsibility attributions on
employees' creative performance: The mediating role of psychological safety. Ethics & Behavior, 29(6), 490-
509

Asim, S., Bukhari, A., Hashim, F., & Amran, A. Bin. (2020). Determinants and outcome of Islamic corporate
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11-2019-0226

Asyraf Wajdi Dusuki. (2008). What Does Islam Say about Corporate Social Responsibility ? Review of Islamic
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Babatunde, J. H., & Adeyemi, A. A. (2015). The effectiveness of Islamic banks' corporate social responsibility
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Bahari, Z., & Yusuf, M. Y. (2014). Corporate social responsibility in Islamic banking institutions in Aceh:
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Bukhari, S. A. A., Hashim, F., & Amran, A. B. (2020). Determinants and outcome of Islamic corporate social
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