Thematic Review Paper On Islamic Corporate Philanthropy (CP)

This paper objective is to examines the five years literature trend on Corporate Philanthropy (CP) in Islamic countries worldwide. The current study uses the thematic analysis approach using the software, Atlas.ti version 9. The literature search encompasses two databases: Scopus and Web of Sience (WOS). There have been numerous studies on CP in the past years. However, past studies did not look at the CP through the Islamic practices. No other studies have used thematic analysis on the Islamic Corporate Philanthropy literature. Five themes are found in this study: the concept of corporate giving through the concept of waqf (cash waqf, waqf financing and waqf corporation, the internal and external regulations pertaining to the corporate giving, the concept of Islamic Corporate Social Reponsibility (CSR), and the impact of Islamic corporate. The practice of corporate philanthropy is huge especially in terms of Corporate Social Responsibility and Corporate Giving. This study is more specific towards Islamic practice which may not be applicable in Western countries. However, the findings are significant to portray the differences between these two different types of countries. The impact of corporate philanthropy can be applied by all corporations, be it in Islamic or Western countries. Literature highlighted that CP is practically giving a good impact towards the companies in terms of the performance from the social marketing of the giving that they did. Although it is not necessary for companies to do so, it shall be taken as part of the company’s strategic planning to include CP as part of their yearly contribution. Since companies’ funds are a lot as compared to the contribution coming from the individual, encouraging corporations to give and contribute will have a huge impact towards society and the counties.