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22.06.2016

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25.11.2015

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Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

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Ramadan inspires CSR in Islamic banks

08.09.2010

A number of Islamic financial institutions around the world are celebrating the holy month of Ramadan by stepping to their charitable operations. Corporate social responsibility (CSR) is an important year-round consideration, but this time represents a valuable opportunity to double charitable deeds and strengthen relations with the community.
Ramadan inspires CSR in Islamic banks
A number of Islamic financial institutions around the world are celebrating the holy month of Ramadan by stepping to their charitable operations. Corporate social responsibility (CSR) is an important year-round consideration, but this time represents a valuable opportunity to double charitable deeds and strengthen relations with the community.

In Malaysia, Maybank has set up a fund, Tabung Maybank Sejahtera, to assist the creation of sustainable living environments for vulnerable communities in the country regardless of race, religion or creed. Members of the public are able to donate to this fund via all of the bank’s delivery channels.

For the second successive year Saudi Arabian bank, SAAB, is sponsoring orphans to perform Umrah during Ramadan. Shamil Bank, an Islamic commercial bank in Bahrain, is helping two children in the Kingdom regain their ability to hear with the purchase of two sophisticated cochlear implant hearing aids. The Indian Islamic Association and Qatar International Islamic Bank have partnered to translate three Arabic religious books into Malayalam to help create awareness of Islam in the Indian community in Qatar. A number have also been sent to educational establishments and public libraries in the Indian state of Kerala. Meanwhile in Malaysia, Takaful Ikhlas, a provider of Shari’ah-compliant insurance, has brought a joy to a score of poor children in the Petaling Jaya district of Selangor, by treating them to a day of Hari Raya (Eid) shopping followed by a dinner to break their fast.

The children, aged between five and 17, were accompanied to a shopping complex in Bukit Tinggi, Klang, where the takaful firm paid for the purchase of all their clothes and shoes, before picking up the tab for an iftar dinner.

‘The children got to know our staff, who could be like foster brothers and sisters to them’, said chief operating officer and executive vice president of Takaful Ikhlas, Wan Mohd Fadzlullah.

While Takaful Ikhlas has braced the social side of Islamic finance for Ramadan, it does have track record of making charitable donations. In July 2009, it donated a dialysis machine to the Mersing District Hospital in Johor.

Source www.newhorizon-islamicbanking.com

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Malaysia's fast-growing Islamic finance sector benefits not only the Muslim world but also non-Muslim countries, said former Prime Minister Tun Abdullah Ahmad Badawi.

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