Shariah compliance of green banking policy in Bangladesh

Purpose – This paper aims to critically evaluate whether the policies of green banking set by Bangladesh Bank are Shariah compliant; according to the main sources of the Shariah – Quran and Sunnah. Design/methodology/approach – Green policy and guidelines have been divided into different categ...

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Main Authors:	Julia, Taslima, Rahman, Maya Puspa, Kassim, Salina H.
Format:	Article
Language:	English English
Published:	Emerald Group Publishing Ltd 2016
Subjects:	BP173.75 Islam and economics HG1501 Banking HT51 Human settlements. Communities
Online Access:	http://irep.iium.edu.my/54386/ http://irep.iium.edu.my/54386/ http://irep.iium.edu.my/54386/1/Shariah%20compliance%20of%20green%20banking%20policy%20in%20Bangladesh_Julia_Rahman_Kassim%202016.pdf http://irep.iium.edu.my/54386/7/54386_Shariah%20compliance%20of%20green%20banking_Scopus.pdf

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recordtype	eprints
spelling	iium-543862017-03-17T01:02:33Z http://irep.iium.edu.my/54386/ Shariah compliance of green banking policy in Bangladesh Julia, Taslima Rahman, Maya Puspa Kassim, Salina H. BP173.75 Islam and economics HG1501 Banking HT51 Human settlements. Communities Purpose – This paper aims to critically evaluate whether the policies of green banking set by Bangladesh Bank are Shariah compliant; according to the main sources of the Shariah – Quran and Sunnah. Design/methodology/approach – Green policy and guidelines have been divided into different categories such as environment protection, conservation of resources, risk management, educating people about green financing, transparency and disclosure and investing in green projects according to the common measures as stated in three different phases of the policy and guidelines. Subsequently, these major aspects of the green policy and guidelines are linked to the main references of the Shariah, i.e. the holy Quran and Sunnah of Prophet [peace be upon him (pbuh)]. Findings – Various verses of the holy Quran and teachings of Prophet (pbuh) related to the major categories of Green policy and guidelines are being presented to show the compliance with Shariah. Practical implications – The Green policy and guidelines are very much in-line with Shariah. Though all types of banks in Bangladesh are bound to implement the green banking policy, however, Shariah compliance of green banking policy will be encouraging for all Islamic Banks of Bangladesh for their further and profounder involvement in it. Social implications – As green policies are found to be Shariah complaint, the Islamic banks are expected to contribute more to the sustainable economic growth of the country by successfully implementing the green financing policies compare to their conventional counterpart. Originality/value – Verses of holy Quran and authentic Hadiths related to environmental sustainability concept show that Islam is a green religion as well as green banking policy is Islamic. Keywords Green banking, Green banking policy of Bangladesh, Shariah compliance Emerald Group Publishing Ltd 2016 Article PeerReviewed application/pdf en http://irep.iium.edu.my/54386/1/Shariah%20compliance%20of%20green%20banking%20policy%20in%20Bangladesh_Julia_Rahman_Kassim%202016.pdf application/pdf en http://irep.iium.edu.my/54386/7/54386_Shariah%20compliance%20of%20green%20banking_Scopus.pdf Julia, Taslima and Rahman, Maya Puspa and Kassim, Salina H. (2016) Shariah compliance of green banking policy in Bangladesh. Humanomics, 32 (4). pp. 390-404. E-ISSN 0828-8666 http://www.emeraldinsight.com/doi/abs/10.1108/H-02-2016-0015
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	BP173.75 Islam and economics HG1501 Banking HT51 Human settlements. Communities
spellingShingle	BP173.75 Islam and economics HG1501 Banking HT51 Human settlements. Communities Julia, Taslima Rahman, Maya Puspa Kassim, Salina H. Shariah compliance of green banking policy in Bangladesh
description	Purpose – This paper aims to critically evaluate whether the policies of green banking set by Bangladesh Bank are Shariah compliant; according to the main sources of the Shariah – Quran and Sunnah. Design/methodology/approach – Green policy and guidelines have been divided into different categories such as environment protection, conservation of resources, risk management, educating people about green financing, transparency and disclosure and investing in green projects according to the common measures as stated in three different phases of the policy and guidelines. Subsequently, these major aspects of the green policy and guidelines are linked to the main references of the Shariah, i.e. the holy Quran and Sunnah of Prophet [peace be upon him (pbuh)]. Findings – Various verses of the holy Quran and teachings of Prophet (pbuh) related to the major categories of Green policy and guidelines are being presented to show the compliance with Shariah. Practical implications – The Green policy and guidelines are very much in-line with Shariah. Though all types of banks in Bangladesh are bound to implement the green banking policy, however, Shariah compliance of green banking policy will be encouraging for all Islamic Banks of Bangladesh for their further and profounder involvement in it. Social implications – As green policies are found to be Shariah complaint, the Islamic banks are expected to contribute more to the sustainable economic growth of the country by successfully implementing the green financing policies compare to their conventional counterpart. Originality/value – Verses of holy Quran and authentic Hadiths related to environmental sustainability concept show that Islam is a green religion as well as green banking policy is Islamic. Keywords Green banking, Green banking policy of Bangladesh, Shariah compliance
format	Article
author	Julia, Taslima Rahman, Maya Puspa Kassim, Salina H.
author_facet	Julia, Taslima Rahman, Maya Puspa Kassim, Salina H.
author_sort	Julia, Taslima
title	Shariah compliance of green banking policy in Bangladesh
title_short	Shariah compliance of green banking policy in Bangladesh
title_full	Shariah compliance of green banking policy in Bangladesh
title_fullStr	Shariah compliance of green banking policy in Bangladesh
title_full_unstemmed	Shariah compliance of green banking policy in Bangladesh
title_sort	shariah compliance of green banking policy in bangladesh
publisher	Emerald Group Publishing Ltd
publishDate	2016
url	http://irep.iium.edu.my/54386/ http://irep.iium.edu.my/54386/ http://irep.iium.edu.my/54386/1/Shariah%20compliance%20of%20green%20banking%20policy%20in%20Bangladesh_Julia_Rahman_Kassim%202016.pdf http://irep.iium.edu.my/54386/7/54386_Shariah%20compliance%20of%20green%20banking_Scopus.pdf
first_indexed	2023-09-18T21:16:57Z
last_indexed	2023-09-18T21:16:57Z
_version_	1777411626022993920

Shariah compliance of green banking policy in Bangladesh

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