CSR Guidelines for the Financial Sector - page 81

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One of themost frequent discussions we have been engaged in is whether CSR investments are in conflict with Islam
and Sharia law. Alternatively organizations have inquired if CSR negates the notion of Zakat and therefore, should
not be considered.
However, what we aim to achieve in this chapter is to show that CSR and Islam are actually two principles or
practices that are aligned.
IslamandGlobal Compact
Bymeans of a demonstration, outlined below are the ten principles of theUnitedNations initiative, theGlobal
Compact, which organizations voluntary commit to in order to reflect their social commitment.
Business should support and respect the protection of
internationally proclaimed human rights.
Make sure that they are not complicit in human rights
abuses
Principle 1:
Principle 2:
Compliance
Business should up hold the freedom of association
and the effective recognition of the right to collective
bargaining.
The elimination of all forms of forced and compulsory
labor.
The effective abolition of child labor.
The elimination of discrimination in respect of
employment and occupation.
Principle 3:
Principle 4:
Principle 5:
Principle 6:
Labor Standards
Business should support precautionary approached to
environment challenges.
Undertake initiatives to promote greater environmental
friendly technologies.
Encourage the development and diffusion of
environmentally friendly technologies.
Principle 7:
Principle 8:
Principle 9:
Environment
Businesses shouldwork against all forms of corruption,
including extortion and bribery.
Principle 10:
Anti-Corruption
1...,71,72,73,74,75,76,77,78,79,80 82,83,84,85,86,87
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