Comparison of Existing Legal Framework of Corporate Social Responsibility for Banks in Malaysia and United Kingdom

Abstract

The concept of Corporate Social Responsibility (CSR) is not new in the corporate world. Many researchers and academics have developed their own definitions of CSR over time. Since the 1950s, academics and researchers have been unable to agree on a single, accepted definition of CSR. Companies throughout the world are dealing with a variety of issues related to their new position, which is to fulfil the requirements of the contemporary generation in an ethical manner. Undoubtedly, CSR an innovative idea in Malaysia increases the significance of CSR for banks in Malaysia. The researchers will try to determine about the existing legal framework of Corporate Social Responsibility for banks in Malaysia and United Kingdom (UK) by making a comparison of the legal framework between two countries and seeks recommendations for improvement of existing legal framework of CSR for banks in Malaysia.To achieve that, we will try to will try to determine the existing legal framework of Corporate Social Responsibility for banks in Malaysia and United Kingdom and will try to find possible deficiencies in the legal frame CSR for banks in Malaysia. Additionally, it is important to consider the CSR legal framework for banks in UK. The study will attempt to look out for pertinent laws, rules, regulations, and recommendations in the local and international legal frameworks of CSR for banks in UK and Malaysia.