Description
This module critically evaluates the influence of ESG issues inherent in the objectives of Islam (Maqāṣid al-Sharīʿah) on shaping responsible organisation/business and Islamic finance operations (particularly SRF - socially responsible finance - and SRI - socially responsible investment). In addition, it examines how ESG issues inherent in the objectives of Islam (Maqāṣid al-Sharīʿah) can be employed with financial metrics to assess the risks and opportunities of responsible investment decisions.
Aims
The aim of this module is to give students the critical skill and knowledge of CSR, ISR, ESG and maqāsid.
Learning Outcomes
By the end of this module the student should be able to:
- Develop a critical understanding of socially responsible finance (SRF) and socially responsible investment (SRI) within the framework of the objectives of the Shari''ah (al-maqa's'id al-Shari''ah).
- Develop critical understanding of the concepts and frameworks for analysing social responsibility, ESG issues in sustainable development, and the objectives of Islam (Maqadis al-Shari'ah;) and their application in Islamic economics and finance;
- Develop a critical understanding of the corporate social responsibility of IFIs in their overarching accountability to stakeholders in their operational framework.
Indicative Content
1 Introduction to Theories
An Introduction to the Theories of Corporate Social Responsibility
2 Sustainable Development
Managing Islamic Sustainable Development: Rationale in Islamic Sources Role of al-Maq'sid al-Shari'ah in in Essentialising Sustainable Development
3 Moral Economy
Islamic Moral Economy Perspectives on ESGs
4 Corporate Social Responsibility (CSR)
CSR and Constituting Islamic CSR: Theoretical Frame Methodology of Disclosure for CSR Role of Islamic Corporate & Shari'ah Governance for Social Responsibility and Sustainability Operationalising Maqasid al-Shari'ah: Evaluating the Social and Sustainability Performance of Islamic Finance: Islamic CSR and Corporate Governance/Shari'ah Empirics
5 Evaluation
Evaluating the Maqasid al-Shari'ah Performance of Islamic Banks and Financial Institutions Evaluating the Maqasid al-Shari'ah Performance of Muslim charities in the UK
| Teaching and Learning Method | Hours |
|---|---|
| Lecture | 20 |
| Tutorial/Seminar | 20 |
| Supervised Practical Activity | |
| Unsupervised Practical Activity | |
| Assessment | 40 |
| Independent | 120 |
Guidance Notes
SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.
Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.
Disclaimer
We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2025/6, and may be subject to change for future years.