The role of private banks in promoting corporate social responsibility

Abstract

The research aims to highlight the role of private banks in promoting social responsibility, using a sample of three international and Arab commercial banks that have a social role in the society in which they operate. The research problem is represented by answering the following question: What is the reality of private banks’ commitment to the reality of social responsibility and what is their social responsibility? The importance of the research lies in the vital and effective role of the banking sector’s social responsibility towards society. The research seeks to achieve the following goals: clarifying the aspects of social responsibility and its important dimensions on the banking sector and identifying the effects of the social responsibility of these banks on society. The research is based on the hypothesis that: There is a relationship between the social responsibility of the banking sector and activating the developmental role of banks. The deductive approach was adopted to move through the study of the phenomenon from the general to the specific, based on the descriptive method as one of the methods of economic analysis. The research also reached a set of conclusions, the most important of which are: The social responsibility of banks expresses the mechanisms through which banks’ compliance with laws and standards can be guaranteed and monitored. And international rules on a voluntary basis. The research also presented a set of recommendations, the most important of which is: An independent department should be allocated for social responsibility in various banks, with the following functions being exercised: organizing volunteer efforts inside and outside them, planning and implementing social responsibility activities, measuring performance, evaluating practices, and preparing periodic reports. And dissemination, coordination with governmental and private institutions locally, internationally and regionally).