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Sustainability Engagement and Shariah-Compliant Mutual Funds: A Preliminary Study

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Previous studies indicate that mutual funds are profit-oriented transient investors. Therefore, investing in firms with good sustainability engagement is not a good idea for mutual funds as it is seen as cost incurring, hence reducing the profit. However, this study believes that such investment preference is different for the mutual funds which are Shariah-compliant. Based on the Islamic principles of tawhid (faith), khalifah (vicegerent) and ukhuwwah (brotherhood), which suggest close connection between Islam and sustainability, this study examines that firms’ sustainability engagement may have the ability to attract investments from Shariah-compliant mutual funds. The analyses from this study suggest preliminary findings that Shariah-compliant mutual funds do have preference to invest in firms with good sustainability commitments.
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Keywords: CSR; Malaysia; Mutual Fund; Shariah; Sustainability

Document Type: Research Article

Affiliations: Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia, Kedah, Malaysia

Publication date: July 1, 2018

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  • ADVANCED SCIENCE LETTERS is an international peer-reviewed journal with a very wide-ranging coverage, consolidates research activities in all areas of (1) Physical Sciences, (2) Biological Sciences, (3) Mathematical Sciences, (4) Engineering, (5) Computer and Information Sciences, and (6) Geosciences to publish original short communications, full research papers and timely brief (mini) reviews with authors photo and biography encompassing the basic and applied research and current developments in educational aspects of these scientific areas.
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