Financial Crime World

Here is the rewritten article in markdown format:

Environmental, Social, and Governance (ESG) Policies in Financial Institutions

Introduction

This research paper examines the implementation of Environmental, Social, and Governance (ESG) policies in financial institutions across three countries: Malaysia, the United Arab Emirates (UAE), and the United Kingdom. We conducted a comparative study on ESG policies for financial institutions, analyzing various sources including academic articles, government reports, and industry guidelines.

Methodology

Our research involved a thorough review of existing literature on ESG policies in the financial sector. We consulted the following references:

  • UNEPC Guidance Document on Principles for Responsible Banking: This document outlines the principles for responsible banking practices.
  • Securities Commission Malaysia’s Keputusan Majlis Penasihat Syariah (Decision of the Shariah Advisory Council): This report provides guidance on Shariah-compliant investments.
  • Article by Mohd Noor and Haron on Framework for Determination of Actual Costs in Islamic Financing Products: This article discusses the framework for determining actual costs in Islamic financing products.
  • Ta’liq Bahs Mustafa Ahmad al-Zarqa Hal Yaqbal Syar’an al-Hukm ‘ala al Madin al-Mumatil bi al-Ta’widh ala ad-Dain by Syaaban: This book explores the concept of late payment charges in Islamic banking.
  • Buhutun fi Qazaya Fiqhiyyah Muasarah by Usmani: This book discusses modern Islamic jurisprudence.
  • A revisit to the practice of late payment charges by Islamic banks in Malaysia by Yaakub et al.: This article revisits the practice of late payment charges by Islamic banks in Malaysia.

Findings

Our research highlights the importance of ESG policies for financial institutions to ensure sustainability and social responsibility. We found that:

  • ESG policies are essential for financial institutions: Our study shows that ESG policies are crucial for financial institutions to maintain their reputation, reduce risks, and increase profitability.
  • Incorporating Shariah principles into ESG policies is necessary for Islamic financial institutions: We emphasize the importance of incorporating Shariah principles into ESG policies for Islamic financial institutions to ensure compliance with Islamic law.

Conclusion

In conclusion, our research demonstrates that ESG policies are vital for financial institutions to ensure sustainability and social responsibility. We also stress the importance of incorporating Shariah principles into ESG policies for Islamic financial institutions. Our findings have significant implications for policymakers, regulators, and financial institutions seeking to promote sustainable and socially responsible practices in the financial sector.