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Abstract
Purpose: This article aims to criticize the concept of CSR from an Islamic perspective.
Method: Researchers employed hyper-post phenomenology as a methodological approach.
Results: The results show that the practice of CSR by Islamic banks in Indonesia has shifted from social to material goals. CSR is only a legitimization tool for "sharia" and from Islamic banks to reap greater profits.
Novelty: This research uses the Islamic paradigm, which calls for interdimensional unity by placing spiritualism as its epicenter.
Contribution: This article creates a policy framework for integrating social programs with Islamic banks' objectives to achieve falah.
Abstrak: Mengusulkan Konsep Tanggung Jawab Sosial Perusahaan yang Nonmainstream dalam Perspektif Islam
Tujuan: Artikel ini bertujuan untuk mengritisi konsep CSR dari perspektif islam.
Metode: Metode penelitian ini adalah hyper-post-fenomenologi
Hasil: Hasil menunjukkan bahwa praktik CSR oleh bank syariah di Indonesia telah terbukti terjadi pergeseran dari tujuan sosial ke tujuan materi. CSR nyatanya hanya menjadi alat legitimasi atas "sharia" dan dari bank-bank Islam untuk meraup laba yang lebih besar.
Kebaruan: Penelitian ini menggunakan paradigma Islam yang menghendaki adanya kesatuan antardimensi dengan menempatkan spiritualisme sebagai episentrumnya.
Kontribusi: Artikel ini berkontribusi pada pembuatan kerangka kebijakan untuk mengintergrasikan program sosial dengan tujuan bank syariah sendiri, sehingga dapat tercapai falah.
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Article Details
Copyright (c) 2024 Virginia Nur Rahmanti, Dian Agustia, Achdiar Redy Setiawan
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
- Abad-Segura, E., Cortés-García, F. J. and Belmonte-Ureña, L. J. (2019) ‘The sustainable approach to corporate social responsibility: A global analysis and future trends’, Sustainability (Switzerland), 11(19). doi: 10.3390/su11195382.
- Ali, I. et al. (2010) ‘Corporate Social Responsibility Influences, Employee Commitment and Organizational Performance’, African Journal of Business Management, 4(12), pp. 2796–2801. doi: 10.29121/granthaalayah.v5.i1(se).2017.1917.
- Aupperle, K. E., Carroll, A. B. and Hatfield, J. D. (1985) ‘An Empirical Examination of the Relationship Between Corporate Social Responsiveness and Extent of Disclosure’, Business and Professional Ethics Journal, 28(2), pp. 446–463. doi: 10.5840/bpej199514214.
- Barako, D. G. and Brown, A. M. (2008) ‘Corporate social reporting and board representation: Evidence from the Kenyan banking sector’, Journal of Management and Governance, 12(4), pp. 309–324. doi: 10.1007/s10997-008-9053-x.
- Basah, M. and Yusuf, M. (2013) ‘Islamic Bank and Corporate Social Responsibility (CSR)’, European Journal of Business and Management, 5(11), pp. 194–209. Available at: http://iiste.org/Journals/index.php/EJBM/article/view/5441.
- Bosch-Badia, M. T., Montllor-Serrats, J. and Tarrazon, M. A. (2013) ‘Corporate Social Responsibility from Friedman to Porter and Kramer’, Theoretical Economics Letters, 03(03), pp. 11–15. doi: 10.4236/tel.2013.33a003.
- Carroll, A. B. (2009) A History of Corporate Social Responsibility: Concepts and Practices, The Oxford Handbook of Corporate Social Responsibility. doi: 10.1093/oxfordhb/9780199211593.003.0002.
- Chang, W. F. et al. (2019) ‘Drivers of sustainability reporting quality: financial institution perspective’, International Journal of Ethics and Systems, 35(4), pp. 632–650. doi: 10.1108/IJOES-01-2019-0006.
- Closon, C., Leys, C. and Hellemans, C. (2015) ‘Perceptions of corporate social responsibility, organizational commitment and job satisfaction’, Management Research, 13(1), pp. 31–54. doi: 10.1108/MRJIAM-09-2014-0565.
- Cochran, P. L. and Wood, R. A. (1984) ‘Corporate Social Responsibility and Financial Performance’, The Academy of Management Journal, 27(1), pp. 42–56.
- Cui, J., Jo, H. and Na, H. (2012) ‘Does Corporate Social Responsibility Reduce Information Asymmetry?’, Journal of Banking and Finance, 5206(408), pp. 1–43. Available at: https://www.tias.edu/docs/default-source/documentlibrary_fsinsight/research-paper-cui-jo-na-does-csr-reduce-information-asymmetry.pdf.
- Dusuki, A. W. (2008) ‘WhatDoesIslamSayCSR’, Review of Islamic Economics, 12(1), pp. 5–28.
- Dusuki, A. W., Sciences, M. and Box, P. O. (2008) ‘Review of Islamic Economics , Volume 12 , Number 1 , May 2008 What Does Islam Say About Corporate Social Responsibility ( CSR )? Author ’:, Review Literature And Arts Of The Americas, 12(1), pp. 1–28.
- El-bassiouny, N. (2016) ‘New Perspectives on Sustainability : Embracing Islamic Divine Attributes’, Journal of Islamic Marketing, (July), pp. 1–7.
- Elkington, J. (2013) ‘Enter the triple bottom line’, The Triple Bottom Line: Does it All Add Up, 1(1986), pp. 1–16. doi: 10.4324/9781849773348.
- Hassan, K. and Cebeci, I. (2012) ‘Integrating the social maslaha into Islamic finance’, Accounting Research Journal, 25(3), pp. 166–184. doi: 10.1108/10309611211290158.
- Herrera, M. E. B. (2015) ‘Creating competitive advantage by institutionalizing corporate social innovation’, Journal of Business Research. Elsevier Inc., 68(7), pp. 1468–1474. doi: 10.1016/j.jbusres.2015.01.036.
- Hidayah, N. N., Lowe, A. and Woods, M. (2019) ‘Accounting and pseudo spirituality in Islamic financial institutions’, Critical Perspectives on Accounting. Elsevier Ltd, 61, pp. 22–37. doi: 10.1016/j.cpa.2018.09.002.
- Ihde, D. (2008) ‘Introduction: Postphenomenological research’, Human Studies, 31(1), pp. 1–9. doi: 10.1007/s10746-007-9077-2.
- Jamali, D. and Mirshak, R. (2007) ‘Corporate Social Responsibility (CSR): Theory and practice in a developing country context’, Journal of Business Ethics, 72(3), pp. 243–262. doi: 10.1007/s10551-006-9168-4.
- Kamla, R. and Rammal, H. G. (2013) ‘Social reporting by Islamic banks: Does social justice matter?’, Accounting, Auditing and Accountability Journal, 26(6), pp. 911–945. doi: 10.1108/AAAJ-03-2013-1268.
- Klerk, M. De, Villiers, C. de and Staden, C. van (2015) ‘The influence of corporate social responsibility disclosure on share prices Evidence from the United Kingdom’, Pacific Accounting Review, 27(2), pp. 208–228. Available at: https://doi.org/10.1108/PAR-05-2013-0047.
- Mehralian, G. et al. (2016) ‘The effects of corporate social responsibility on organizational performance in the Iranian pharmaceutical industry: The mediating role of TQM’, Journal of Cleaner Production. Elsevier Ltd, 135, pp. 689–698. doi: 10.1016/j.jclepro.2016.06.116.
- Min, M., Desmoulins-Lebeault, F. and Esposito, M. (2017) ‘Should pharmaceutical companies engage in corporate social responsibility?’, Journal of Management Development, 36(1), pp. 58–70. doi: 10.1108/JMD-09-2014-0103.
- Muneeza, A., Nurul Atiqah Nik Yusuf, N. and Hassan, R. (2011) ‘The possibility of application of salam in Malaysian Islamic banking system’, Humanomics, 27(2), pp. 138–147. doi: 10.1108/08288661111135135.
- Nick, G., Pongrácz, F. and Radács, E. (2018) ‘Interpretation of disruptive innovation in the era of smart cities of the fourth industrial revolution’, Deturope, 10(1), pp. 53–70.
- Ningsih, W. F. and Wardayati, S. M. (2016) ‘Modification Finance of Salam and the Implications for Salam Accounting Treatment in Indonesia’, Procedia - Social and Behavioral Sciences, 219, pp. 528–533. doi: 10.1016/j.sbspro.2016.05.030.
- Rahmanti, V. N., Kamayanti, A. and Mulawarman, A. D. (2013) ‘Menggeser paradigma Stock Concept Menuju Flow Concept: Kritik atas Net Revenue Sharing pada Akuntansi Mudharabah’, Silatnas FORDEBI UNS Surakarta, (Rad 2006), pp. 1–24. Available at: http://ajidedim.lecture.ub.ac.id/files/2014/01/2013_Rahmanti-Mulawarman-Kamayanti.pdf.
- Raida, C., Hamadi, M. and Sarra, M. (2017) ‘Determinants of CSR disclosure of Tunisian listed banks: a multi support analysis’, Social Responsibility Journal.
- Rasyid, A. A. (2019) ‘Jurnal Ekonomi dan Perbankan Syariah Fiqh Solutions Against Usury ( Riba ) Practices In Conventional Banking 6 | Asgaft Asy-syad Rasyid : Fiqh Solutions Againts Usury ( Riba ) Practices in Conventional Banking’, 7(1), pp. 5–21.
- Rehman, A. ur and Shahzad, M. A. (2017) ‘Eradicating Poverty through Salam and Istisn’a’ Strategy for Poverty Reduction in Rural Pakistan’, Ma‘ārif Research Journal (MRJ), Islamic Research Academy, Karachi, January-(13). Available at: https://ssrn.com/abstract=2879836.
- Rodriguez-Gomez, S. et al. (2020) ‘Where Does CSR Come from and Where Does It Go? A Review of the State of the Art’, Administrative Sciences, 10(3), p. 60. doi: 10.3390/admsci10030060.
- Safieddine, A. (2009) ‘Islamic Financial Institutions and Corporate Governance : New Insights for Agency Theory’, 17(2), pp. 142–158. doi: 10.1111/j.1467-8683.2009.00729.x.
- Sairally, S. (2007) ‘Community Development Financial Institutions: Lessons in Social Banking for the Islamic Financial Industry’, Kyoto Bulletin of Islamic Area Studies, 1–2, pp. 19–37. doi: 10.1017/upo9788175968271.
- Shahzad, M. et al. (2020) ‘Relation of environment sustainability to CSR and green innovation: A case of Pakistani manufacturing industry’, Journal of Cleaner Production. Elsevier Ltd, 253, p. 119938. doi: 10.1016/j.jclepro.2019.119938.
- Susanto, W. H. et al. (2021) ‘Aksi gagal bayar pada perusahaan fintech’, 5, pp. 9–22.
- Vives, X. (2017) ‘The Impact of FinTech on the Banking Industry’, IESE Business School, (2017), pp. 97–105. Available at: http://www.us.confirmation.com/blog/fintech-and-banking.
- Wan Jusoh, W. N. H., Ibrahim, U. and Mohammad, M. D. (2015) ‘An Islamic perspective on corporate social responsibility of Islamic banks’, Mediterranean Journal of Social Sciences, 6(2S1), pp. 308–315. doi: 10.5901/mjss.2015.v6n2s1p308.
- Widyastuti, S. et al. (2019) ‘Customer Trust through Green Corporate Image, Green Marketing Staretgy and Social Responsibility: A Case Study’, European Research Studies Journal, XXII(Issue 3), pp. 343–359. doi: 10.35808/ersj/1476.
- Woodward, D. G., Edwards, P. and Birkin, F. (1996) ‘Organizational legitimacy and stakeholder information provision’, British Journal of Management, 7(4), pp. 329–347. doi: 10.1111/j.1467-8551.1996.tb00123.x.
- Zohar, D. and Marshall, I. (2000). SQ: Spiritual Intelligence - The Ultimate Intelligence. Bandung: Mizan Pustaka
- www.kompas.com. Awas Pinjaman Online Ilegal, Ini 146 Fintech Terdaftar dan Berizin OJK. Retrieved from: https://www.kompas.com/tren/read/2021/04/20/160000865/awas-pinjaman-online-ilegal-ini-146-fintech-terdaftar-dan-berizin-ojk. Accessed on May, 28th, 2021.
- www.trenAsia.com. (2020). Here are the 10 Largest Sharia Banks in Indonesia. Retrieved from: https://www.trenasia.com/inilah-10-bank-syariah-terbesar-di-indonesia. Accessed on April, 21st, 2021
References
Abad-Segura, E., Cortés-García, F. J. and Belmonte-Ureña, L. J. (2019) ‘The sustainable approach to corporate social responsibility: A global analysis and future trends’, Sustainability (Switzerland), 11(19). doi: 10.3390/su11195382.
Ali, I. et al. (2010) ‘Corporate Social Responsibility Influences, Employee Commitment and Organizational Performance’, African Journal of Business Management, 4(12), pp. 2796–2801. doi: 10.29121/granthaalayah.v5.i1(se).2017.1917.
Aupperle, K. E., Carroll, A. B. and Hatfield, J. D. (1985) ‘An Empirical Examination of the Relationship Between Corporate Social Responsiveness and Extent of Disclosure’, Business and Professional Ethics Journal, 28(2), pp. 446–463. doi: 10.5840/bpej199514214.
Barako, D. G. and Brown, A. M. (2008) ‘Corporate social reporting and board representation: Evidence from the Kenyan banking sector’, Journal of Management and Governance, 12(4), pp. 309–324. doi: 10.1007/s10997-008-9053-x.
Basah, M. and Yusuf, M. (2013) ‘Islamic Bank and Corporate Social Responsibility (CSR)’, European Journal of Business and Management, 5(11), pp. 194–209. Available at: http://iiste.org/Journals/index.php/EJBM/article/view/5441.
Bosch-Badia, M. T., Montllor-Serrats, J. and Tarrazon, M. A. (2013) ‘Corporate Social Responsibility from Friedman to Porter and Kramer’, Theoretical Economics Letters, 03(03), pp. 11–15. doi: 10.4236/tel.2013.33a003.
Carroll, A. B. (2009) A History of Corporate Social Responsibility: Concepts and Practices, The Oxford Handbook of Corporate Social Responsibility. doi: 10.1093/oxfordhb/9780199211593.003.0002.
Chang, W. F. et al. (2019) ‘Drivers of sustainability reporting quality: financial institution perspective’, International Journal of Ethics and Systems, 35(4), pp. 632–650. doi: 10.1108/IJOES-01-2019-0006.
Closon, C., Leys, C. and Hellemans, C. (2015) ‘Perceptions of corporate social responsibility, organizational commitment and job satisfaction’, Management Research, 13(1), pp. 31–54. doi: 10.1108/MRJIAM-09-2014-0565.
Cochran, P. L. and Wood, R. A. (1984) ‘Corporate Social Responsibility and Financial Performance’, The Academy of Management Journal, 27(1), pp. 42–56.
Cui, J., Jo, H. and Na, H. (2012) ‘Does Corporate Social Responsibility Reduce Information Asymmetry?’, Journal of Banking and Finance, 5206(408), pp. 1–43. Available at: https://www.tias.edu/docs/default-source/documentlibrary_fsinsight/research-paper-cui-jo-na-does-csr-reduce-information-asymmetry.pdf.
Dusuki, A. W. (2008) ‘WhatDoesIslamSayCSR’, Review of Islamic Economics, 12(1), pp. 5–28.
Dusuki, A. W., Sciences, M. and Box, P. O. (2008) ‘Review of Islamic Economics , Volume 12 , Number 1 , May 2008 What Does Islam Say About Corporate Social Responsibility ( CSR )? Author ’:, Review Literature And Arts Of The Americas, 12(1), pp. 1–28.
El-bassiouny, N. (2016) ‘New Perspectives on Sustainability : Embracing Islamic Divine Attributes’, Journal of Islamic Marketing, (July), pp. 1–7.
Elkington, J. (2013) ‘Enter the triple bottom line’, The Triple Bottom Line: Does it All Add Up, 1(1986), pp. 1–16. doi: 10.4324/9781849773348.
Hassan, K. and Cebeci, I. (2012) ‘Integrating the social maslaha into Islamic finance’, Accounting Research Journal, 25(3), pp. 166–184. doi: 10.1108/10309611211290158.
Herrera, M. E. B. (2015) ‘Creating competitive advantage by institutionalizing corporate social innovation’, Journal of Business Research. Elsevier Inc., 68(7), pp. 1468–1474. doi: 10.1016/j.jbusres.2015.01.036.
Hidayah, N. N., Lowe, A. and Woods, M. (2019) ‘Accounting and pseudo spirituality in Islamic financial institutions’, Critical Perspectives on Accounting. Elsevier Ltd, 61, pp. 22–37. doi: 10.1016/j.cpa.2018.09.002.
Ihde, D. (2008) ‘Introduction: Postphenomenological research’, Human Studies, 31(1), pp. 1–9. doi: 10.1007/s10746-007-9077-2.
Jamali, D. and Mirshak, R. (2007) ‘Corporate Social Responsibility (CSR): Theory and practice in a developing country context’, Journal of Business Ethics, 72(3), pp. 243–262. doi: 10.1007/s10551-006-9168-4.
Kamla, R. and Rammal, H. G. (2013) ‘Social reporting by Islamic banks: Does social justice matter?’, Accounting, Auditing and Accountability Journal, 26(6), pp. 911–945. doi: 10.1108/AAAJ-03-2013-1268.
Klerk, M. De, Villiers, C. de and Staden, C. van (2015) ‘The influence of corporate social responsibility disclosure on share prices Evidence from the United Kingdom’, Pacific Accounting Review, 27(2), pp. 208–228. Available at: https://doi.org/10.1108/PAR-05-2013-0047.
Mehralian, G. et al. (2016) ‘The effects of corporate social responsibility on organizational performance in the Iranian pharmaceutical industry: The mediating role of TQM’, Journal of Cleaner Production. Elsevier Ltd, 135, pp. 689–698. doi: 10.1016/j.jclepro.2016.06.116.
Min, M., Desmoulins-Lebeault, F. and Esposito, M. (2017) ‘Should pharmaceutical companies engage in corporate social responsibility?’, Journal of Management Development, 36(1), pp. 58–70. doi: 10.1108/JMD-09-2014-0103.
Muneeza, A., Nurul Atiqah Nik Yusuf, N. and Hassan, R. (2011) ‘The possibility of application of salam in Malaysian Islamic banking system’, Humanomics, 27(2), pp. 138–147. doi: 10.1108/08288661111135135.
Nick, G., Pongrácz, F. and Radács, E. (2018) ‘Interpretation of disruptive innovation in the era of smart cities of the fourth industrial revolution’, Deturope, 10(1), pp. 53–70.
Ningsih, W. F. and Wardayati, S. M. (2016) ‘Modification Finance of Salam and the Implications for Salam Accounting Treatment in Indonesia’, Procedia - Social and Behavioral Sciences, 219, pp. 528–533. doi: 10.1016/j.sbspro.2016.05.030.
Rahmanti, V. N., Kamayanti, A. and Mulawarman, A. D. (2013) ‘Menggeser paradigma Stock Concept Menuju Flow Concept: Kritik atas Net Revenue Sharing pada Akuntansi Mudharabah’, Silatnas FORDEBI UNS Surakarta, (Rad 2006), pp. 1–24. Available at: http://ajidedim.lecture.ub.ac.id/files/2014/01/2013_Rahmanti-Mulawarman-Kamayanti.pdf.
Raida, C., Hamadi, M. and Sarra, M. (2017) ‘Determinants of CSR disclosure of Tunisian listed banks: a multi support analysis’, Social Responsibility Journal.
Rasyid, A. A. (2019) ‘Jurnal Ekonomi dan Perbankan Syariah Fiqh Solutions Against Usury ( Riba ) Practices In Conventional Banking 6 | Asgaft Asy-syad Rasyid : Fiqh Solutions Againts Usury ( Riba ) Practices in Conventional Banking’, 7(1), pp. 5–21.
Rehman, A. ur and Shahzad, M. A. (2017) ‘Eradicating Poverty through Salam and Istisn’a’ Strategy for Poverty Reduction in Rural Pakistan’, Ma‘ārif Research Journal (MRJ), Islamic Research Academy, Karachi, January-(13). Available at: https://ssrn.com/abstract=2879836.
Rodriguez-Gomez, S. et al. (2020) ‘Where Does CSR Come from and Where Does It Go? A Review of the State of the Art’, Administrative Sciences, 10(3), p. 60. doi: 10.3390/admsci10030060.
Safieddine, A. (2009) ‘Islamic Financial Institutions and Corporate Governance : New Insights for Agency Theory’, 17(2), pp. 142–158. doi: 10.1111/j.1467-8683.2009.00729.x.
Sairally, S. (2007) ‘Community Development Financial Institutions: Lessons in Social Banking for the Islamic Financial Industry’, Kyoto Bulletin of Islamic Area Studies, 1–2, pp. 19–37. doi: 10.1017/upo9788175968271.
Shahzad, M. et al. (2020) ‘Relation of environment sustainability to CSR and green innovation: A case of Pakistani manufacturing industry’, Journal of Cleaner Production. Elsevier Ltd, 253, p. 119938. doi: 10.1016/j.jclepro.2019.119938.
Susanto, W. H. et al. (2021) ‘Aksi gagal bayar pada perusahaan fintech’, 5, pp. 9–22.
Vives, X. (2017) ‘The Impact of FinTech on the Banking Industry’, IESE Business School, (2017), pp. 97–105. Available at: http://www.us.confirmation.com/blog/fintech-and-banking.
Wan Jusoh, W. N. H., Ibrahim, U. and Mohammad, M. D. (2015) ‘An Islamic perspective on corporate social responsibility of Islamic banks’, Mediterranean Journal of Social Sciences, 6(2S1), pp. 308–315. doi: 10.5901/mjss.2015.v6n2s1p308.
Widyastuti, S. et al. (2019) ‘Customer Trust through Green Corporate Image, Green Marketing Staretgy and Social Responsibility: A Case Study’, European Research Studies Journal, XXII(Issue 3), pp. 343–359. doi: 10.35808/ersj/1476.
Woodward, D. G., Edwards, P. and Birkin, F. (1996) ‘Organizational legitimacy and stakeholder information provision’, British Journal of Management, 7(4), pp. 329–347. doi: 10.1111/j.1467-8551.1996.tb00123.x.
Zohar, D. and Marshall, I. (2000). SQ: Spiritual Intelligence - The Ultimate Intelligence. Bandung: Mizan Pustaka
www.kompas.com. Awas Pinjaman Online Ilegal, Ini 146 Fintech Terdaftar dan Berizin OJK. Retrieved from: https://www.kompas.com/tren/read/2021/04/20/160000865/awas-pinjaman-online-ilegal-ini-146-fintech-terdaftar-dan-berizin-ojk. Accessed on May, 28th, 2021.
www.trenAsia.com. (2020). Here are the 10 Largest Sharia Banks in Indonesia. Retrieved from: https://www.trenasia.com/inilah-10-bank-syariah-terbesar-di-indonesia. Accessed on April, 21st, 2021