Developing Islamic Sustainable and Responsible Investment Criteria: an Overview
Purpose – The purpose of this study is to explore the necessity for developing Islamic sustainable and responsible investment (i-SRI) criteria based on environmental, social and governance issues. Design/methodology/approach – To address the above objective, this study adopted a qualitative method...
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2023
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my.uum.repo.307302024-04-28T10:24:36Z https://repo.uum.edu.my/id/eprint/30730/ Developing Islamic Sustainable and Responsible Investment Criteria: an Overview Haji Wahab, Muhammad Zarunnaim Mohamed Naim, Asmadi HG Finance Purpose – The purpose of this study is to explore the necessity for developing Islamic sustainable and responsible investment (i-SRI) criteria based on environmental, social and governance issues. Design/methodology/approach – To address the above objective, this study adopted a qualitative method via content document analysis and interviews with experts. Findings – Based on the analysis, this study discovered five primary aspects that lead to the necessity for developing i-SRI criteria. First, Malaysia has yet to develop i-SRI criteria. Second, the absence of i-SRI criteria will eventually lead to Shariah issues. Third, any Islamic financial instrument is bound to encounter numerous issues and challenges, thereby making it difficult to be marketed globally if it does not have a proper and standardized framework. Fourth, the establishment of i-SRI criteria can serve as a key reference point for the players in the industry, including investors, policy makers and other parties. Finally, the development of i-SRI criteria can play a vital role in enhancing the current Islamic capital market products offering in Malaysia. Practical implications – There are several implications identified in this study. First, continuous research on the i-SRI criteria can offer numerous benefits to the regulatory bodies and policymakers who can use the findings in their decision-making process. Second, in terms of investors, the results can help them to make better investment choices by referring to the i-SRI criteria. Third, this study will be valuable to the academicians in terms of opportunity to explore a new research area, i.e. the i-SRI criteria, besides adding to the extant literature on this topic which is still scant currently. Originality/value – This study discovered five primary aspects that lead to the necessity for developing i-SRI criteria. Emerald Publishing Limited 2023 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/30730/1/IJES%2039%2003%202023%20648-658.pdf Haji Wahab, Muhammad Zarunnaim and Mohamed Naim, Asmadi (2023) Developing Islamic Sustainable and Responsible Investment Criteria: an Overview. International Journal of Ethics and Systems, 39 (3). pp. 648-658. ISSN 2514-9369 https://www.emerald.com/insight/2514-9369.htm https://doi.org/10.1108/IJOES-06-2021-0120 https://doi.org/10.1108/IJOES-06-2021-0120 |
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HG Finance Haji Wahab, Muhammad Zarunnaim Mohamed Naim, Asmadi Developing Islamic Sustainable and Responsible Investment Criteria: an Overview |
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Purpose – The purpose of this study is to explore the necessity for developing Islamic sustainable and responsible investment (i-SRI) criteria based on environmental, social and governance issues.
Design/methodology/approach – To address the above objective, this study adopted a qualitative method via content document analysis and interviews with experts.
Findings – Based on the analysis, this study discovered five primary aspects that lead to the necessity for developing i-SRI criteria. First, Malaysia has yet to develop i-SRI criteria. Second, the absence of i-SRI criteria will eventually lead to Shariah issues. Third, any Islamic financial instrument is bound to encounter numerous issues and challenges, thereby making it difficult to be marketed globally if it does not have a proper and standardized framework. Fourth, the establishment of i-SRI criteria can serve as a key reference point for the players in the industry, including investors, policy makers and other parties. Finally, the development of i-SRI criteria can play a vital role in enhancing the current Islamic capital market products offering in Malaysia.
Practical implications – There are several implications identified in this study. First, continuous research on the i-SRI criteria can offer numerous benefits to the regulatory bodies and policymakers who can use the findings in their decision-making process. Second, in terms of investors, the results can help them to make better investment choices by referring to the i-SRI criteria. Third, this study will be valuable to the academicians in terms of opportunity to explore a new research area, i.e. the i-SRI criteria, besides adding to the extant literature on this topic which is still scant currently.
Originality/value – This study discovered five primary aspects that lead to the necessity for developing i-SRI criteria. |
format |
Article |
author |
Haji Wahab, Muhammad Zarunnaim Mohamed Naim, Asmadi |
author_facet |
Haji Wahab, Muhammad Zarunnaim Mohamed Naim, Asmadi |
author_sort |
Haji Wahab, Muhammad Zarunnaim |
title |
Developing Islamic Sustainable and Responsible Investment
Criteria: an Overview |
title_short |
Developing Islamic Sustainable and Responsible Investment
Criteria: an Overview |
title_full |
Developing Islamic Sustainable and Responsible Investment
Criteria: an Overview |
title_fullStr |
Developing Islamic Sustainable and Responsible Investment
Criteria: an Overview |
title_full_unstemmed |
Developing Islamic Sustainable and Responsible Investment
Criteria: an Overview |
title_sort |
developing islamic sustainable and responsible investment
criteria: an overview |
publisher |
Emerald Publishing Limited |
publishDate |
2023 |
url |
https://repo.uum.edu.my/id/eprint/30730/1/IJES%2039%2003%202023%20648-658.pdf https://doi.org/10.1108/IJOES-06-2021-0120 https://repo.uum.edu.my/id/eprint/30730/ https://www.emerald.com/insight/2514-9369.htm https://doi.org/10.1108/IJOES-06-2021-0120 |
_version_ |
1797922852057382912 |
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13.18916 |