Islamic Corporate Social Responsibility

Corporate social responsibility (CSR) is an increasingly important part of the international business environment. The past thirty years have seen a radical change in the relationship between business and society. Key drivers of this change have been the globalization of trade, the increased size and influence of corporations, the repositioning of governments and the rise in strategic importance of stakeholder relationships, knowledge and brand reputation.
Much contemporary discussion of corporate social responsibility, however, this has largely been based on a Western orientation focused on European and American cultures that are informed by Western value system.
Notions of corporate social responsibility (CSR) have been suggested to be consistent with an Islamic view of society. Indeed, values and principles that have been central to Islam since the time of the holy Prophet Mohammed (Peace and Blessings be upon him) may serve as a foundation for notions of corporate social responsibility (CSR) similar to those in the West.

Much contemporary discussion of CSR, however, has not recognized this. These discussions have largely been based on a Western orientation informed by Western religious values. Moreover, CSR has evolved literally in response to particular issues or problems that are specific to businesses in a Western context. This led to a lack of a comprehensive global context within which a wider perspective of CSR should be positioned.