Browsing by Author "Kuanova L."

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    SOCIAL RESPONSIBILITY AND EFFICIENCY OF ISLAMIC FINANCIAL INSTITUTIONS
    (2021 International Young Scholars' Conference, 2021) Kuanova L.
    Abstract. Islamic finance is obtaining attention from the financial industry and academia. The growing of the Islamic financial assets and number of institutions despite the crises and global decline in economics sets the interest to the Shariah-compliant institutions activity and social component impacted on welfare needs of the society. The purpose of the paper is to analyze the social responsibility of Islamic financial institutions, and their advantages by using data from in-depth interviews with managers of the institutions, financial statements, and reports of the institutions. The study’s estimations show the high social responsibility of the Islamic financial institutions of Kazakhstan and the growth of the social projects covered by the special accounts for charity and amount of the zakat collection, as a result of increasing the financial assets of that institutions. Furthermore, the social impact of these institutions creates the opportunity for assistance to the needy and socially vulnerable population of the country.