Conceptualizing Islamic Social Enterprise (ISE) from Islamic Perspective

International Journal of Management, Accounting and Economics, 6(4), 368-381, April 2019

14 Pages Posted: 18 Jul 2019

See all articles by Muhammad Iqmal Hisham Kamaruddin

Muhammad Iqmal Hisham Kamaruddin

Universiti Sains Islam Malaysia (USIM)

Sofiah MdAuzair

National University of Malaysia (UKM) - Faculty of Economics and Management

Date Written: April 2019

Abstract

The developments of social enterprise (SE) concept around the world have significantly impacted Islamic organizations’ behavior and operation. Due to SE concept where both social and economic objectives are combined in a single entity, it has increased the complexity of Islamic organizations’ operation. This is vital in maintaining sustainability and offering more contribution toward people especially Muslims society around the world. Islamic organizations that adopted SE concept are known as Islamic Social Enterprise (ISE). With the various types of ISE economics activities and different approaches in legal formation, there are issues arising in relation to its refined and definite concept. The same issues also can be found in the studies related to social enterprise (SE). Therefore, this study attempts to conceptualize the definition of ISE by discussing its objectives specifically from Islamic perspective. This study will enrich the literature on ISE by providing its alternative concept from the Islamic perspective.

Keywords: Islamic social enterprise (ISE), Social enterprise (SE), Conceptualizing, Islamic social finance

Suggested Citation

Kamaruddin, Muhammad Iqmal Hisham and MdAuzair, Sofiah, Conceptualizing Islamic Social Enterprise (ISE) from Islamic Perspective (April 2019). International Journal of Management, Accounting and Economics, 6(4), 368-381, April 2019, Available at SSRN: https://ssrn.com/abstract=3421833

Muhammad Iqmal Hisham Kamaruddin (Contact Author)

Universiti Sains Islam Malaysia (USIM) ( email )

Bandar Baru Nilai
Nilai, 71800
Malaysia

Sofiah MdAuzair

National University of Malaysia (UKM) - Faculty of Economics and Management ( email )

Bangi, Selangor 43600
Malaysia

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