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INTL710 Sharia board: Corporate Social Responsibility
- Course Code: INTL710
- Course Title: Corporate Social Responsibility
- Referencing Styles: APA
- Words: 3300+
- University: Centennial College
- Country: CA
There is no global standard or overarching authority for sharia compliance. Some countries, like Malaysia, have a central sharia board for finance. Others, including the UAE, do not, leaving issuers and investors to rely on the guidance of learned scholars to vet transactions. Indeed, they sometimes disagree. [Recent doctrinal conflicts have] highlighted the need to move faster towards agreed and consistent standards.
QUESTIONS TO BE ADDRESSED:
- 1.“Religion is a private matter that does not belong in the workplace.” Do you agree or disagree with this statement? Why or why not?
- What role does religion play in your life? Do you feel that the society in which you live is becoming more or less religious? Is this good or bad? Does it matter?
- Are you interested in a career in finance? Would you have any religious or moral concerns about working in the finance industry? Are there any jobs or ambitions that you would avoid based on your religious or moral values?
- What is your reaction to the accusation that the Islamic finance industry is generating “interest-bearing loan[s] in all but name”? From what you have learned in this case study, do you agree that Islamic financial products are sharia-compliant?