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International Journal of Law and Management: Assessing ethical praxis of ethical (Islamic) financial institutions: a survey of empirical discoveries
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Abstract
Purpose – This study aims to portray the ethical disposition of Islamic financial institutions (IFIs) globally
by investigating the ethical gap identified in the empirical literature to date.
Design/methodology/approach – Two methods of analysis used in this study are content analysis and
ratio analysis. While the former was conducted to identify the main themes of empirical studies and to gauge
the gap between theory and practice of ethical principles and business practice in the Islamic banking and
financial industry, the latter quantified the intensity of the gap identified.
Findings – The findings indicate that global ethical practices were found to be above medial, and the South
East Asian region stood out with a relatively better performance along with the subpar performance of the
African region. Among the ethical parameters, the praxis of marketing ethics was found to be distinctly
aligned with the principles, and the organizational ethical decision-making behaviour was held to be least
harmonized with the norms.
Practical implications – The findings of this study help researchers and regulators to better understand
the issues and provide practical solutions to address the shortfalls of ethics in Islamic finance in practice.
Originality/value – In spite of the vast literature, comprehension of the overarching ethical standing of
IFIs is still equivocal. This study contributes to the growing literature of ethical and/or Islamic finance
primarily in two ways. Firstly, it provides a comprehensive depiction of the ethical standings of the IFIs all
around the globe, which can be treated as a guiding document for regulators and industry practitioners to
better understand the issues and provide practical solutions to address the shortfalls of ethics in Islamic
finance in practice. Secondly, it helps researchers identify research gaps and provides a systematic direction
for future studies in the area of ethics in Islamic finance.
Shinaj Valangattil Shamsudheen - Personal Name
Aishath Muneeza - Personal Name
Saiful Azhar Rosly - Personal Name
Aishath Muneeza - Personal Name
Saiful Azhar Rosly - Personal Name
NONE
Text
ENGLISH
EMERALD INSIGHT
2023
ENGLAND
JURNAL ILMU HUKUM
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APA Citation
Shinaj Valangattil Shamsudheen. (2023).International Journal of Law and Management:
Assessing ethical praxis of ethical
(Islamic) financial institutions: a
survey of empirical discoveries.(Electronic Thesis or Dissertation). Retrieved from https://localhost/etd