Conceptualising and Locating the Social Failure of Islamic Finance : Aspirations of Islamic Moral Economy vs the Realities of Islamic Finance (Frontier of Islamic Economics and Finance : New…

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Islamic Banking Sustainability: A Review of Literature and Directions for Future Research (2016, result): “On the other hand, previous studies viewed Islamic banks have failed to achieve their social objectives that expose the gap between the aspirations and real practices of the institutions (Asutay 2008, 2012; Platonova 2013; Zaman 2013; Zaman and Asutay 2009).”
The Impact of Corporate Social Responsibility Disclosure on Financial Performance: Evidence from the GCC Islamic Banking Sector (2018, result): “Similar to other religions, Islam has at its heart ‘social good’, ‘good governance’, ‘environmental concern’ and ‘ethical individual and organisational beha-viour’ (Asutay 2007, 2012, 2013).”
Higher Ethical Objective (Maqasid al-Shari’ah) Augmented Framework for Islamic Banks: Assessing Ethical Performance and Exploring Its Determinants (2019, methodology): “In accordance with the IME’s holistic approach, Asutay (2012) classified four characteristics of the values and norms of the ideal IB: (i) As Islamic finance principles are derived from the ontology of Islam, the operations of IBs should not derive from riba (interest-based transactions), gharar…”