Journal of Islamic Banking and Finance

A Comparative Study of CSR Practices of Islamic Banks and Conventional Banks in GCC Region
Dr. S. A. Chintaman, M.Com., Ph.D.

Abstract
The CSR activities lead to the upliftment of the destitute among the society. Banks established according to the principles of any religion may have more inclination towards fulfilling their religious duties as well as their social duties by practicing CSR. On the other hand Conventional banks guided by their moral duties and social and mandatory compulsions for undertaking CSR activities. The study examines the preferences and patterns of both the kinds of banks. The study also compares their CSR practices. An effort is also made to evaluate the effects of Islamic Tenets on the CSR practices. The study also looked into the preferences of the banks regarding CSR Collaborating Agencies. Case study method, Content Analysis and Dimension Score Analysis have been undertaken to fulfill the objectives of the study. The study reveals that the Islamic Banks are more innovative in their CSR practices and the effects of Islamic Tenets could be envisaged in their practices. Conventional banks are at par with the Islamic Banks as far as the CSR practices are concerned. The international organizations like UN, UNICEF, UNESCO, WHO etc can play vital role in directing the banks about the CSR patterns, CSR activities, the deserving geographical regions. Collective and coordinated efforts of such international organizations, corporate world, Government Agencies etc can make this world a better place to live.

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