Re-Considering CSR and Sustainability Identity of Islamic Banks in Malaysia: An Empirical Analysis

The concept of Corporate Social Responsibility (CSR) has emerged as a trend in banking sector across the globe and has closely been associated with the concept of sustainable development and social economy. The role of CSR is very significant in shaping the nature of banks in producing a sustainable banking by channelling banking operations to endogenise the interests of all the stakeholders including management, products and services, community and environment. The aim but also the outcome of the CSR oriented banking is to support the sustainable growth and development. CSR and sustainable development is an integral part of the Islamic moral economy through the ontological reasoning of Islamic teaching, which aims at constructing a human centred economic development with social justice objectives. The foundational axioms of Islamic moral economy directly refer to social economy. Since Islamic banks and financial (IBF) institutions is considered as the operational and financing tools o