Resumo

A close look at the religious position on economic and financial matters indicates that all religions one way or another support the concept of a moral economy, aiming to replace the spirit of profit maximization with social objectives by developing norms with the objective of changing moral behavior to produce social welfare by overcoming the conflict between individual and social interest. However, most of the world societies have moved out of the religiously constructed worldviews and realities long ago.

This study aims to provide a literature review of previous studies related to CSR in the Islamic financial institutions. There are 53 articles during 2006-2016, which have been reviewed, both in general journal on economics, business and accounting and specific journals for Islamic economics, business, and accounting. The results of this literature review are broadly divided into five parts, which is (a) review by journal and year of publication, (b) by research type, (c) by methodology used (d) by research topic and (e) by theme and region.

1) Principles of Islamic Finance 2) CSR in Financial Institutions 3) CSR from Islamic Finance Perspective

This research used qualitative method by doing the literature review, based on collected data. The literature review approach used in this study refers to Aguinis and Glavas (2012) and Hoque (2014). This study was conducted through the web-search, by collecting and reviewing articles related to CSR in Islamic financial institutions, both in general journal on economics, business and accounting and specific journals for Islamic economics. Generally, there were four steps to conduct the review. First, we focused to do the web-search in famous publisher websites.

The recent development of the concept of socially responsible business practices makes CSR become a trending issue for academicians. This study aims to provide a literature review of previous studies related to CSR in the Islamic financial institutions. There are 53 articles which have reviewed and classified based on several aspects, i.e.: (a) journal and publication year, (b) the research type, (c) the methodology used, (d) the research topics and (e) and the theme and region of the study. The results of this literature review are expected to be useful for practitioners and academics.

This study is certainly not free from limitations. The main limitation of this study is related to the coverage of reviewed articles. The literature review rely on the web-search results, so it may not include the relevant article that not accessible through the internet-based searches.

ABBASI, T. H. Corporate Social Responsibility Disclosure: A Comparison Between Islamic and Conventional Financial Institutions in Bahawalpur Region. Research Journal of Finance and Accounting, Vol. 3(3), 2012. AGUINIS, H.; GLAVAS, A. What We Know and Don’t Know About Corporate Social Responsibility A Review and Research Agenda. Journal of Management, Vol. 38(4): 932-968, 2012. AHMAD, K.; SADEQ, A. H. M. Islamic Ethics in A Changing Environment for Managers. Ethics in Business and Management: Islamic and Mainstream Approaches: 97-109, 2002.