How is the IRI different from other reporting frameworks?
The IRI is aiming to become the first mainstream reporting framework for Sustainability & CSR based on Islamic values and principles. Culturally relevant, impact-oriented and leveraging the growing potential of smart technology, the IRI will be compatible with major existing standards to ensure organizations only need to go through the reporting process once. The IRI will offer basic, comprehensive and integrated reporting. Click here for more information.
What are the benefits of CSR & Sustainability reporting?
CSR & Sustainability reporting, increasingly required by regulation, enables an organization to gain valuable insight into its overall performance, empowering management to further optimize business strategy for an inclusive economy. Click here for more information.
What is the relevance between Islamic principles and CSR?
Islamic law serves to unify, bind the community, constitute equality, and imbue people with trust and understanding of a responsibility to manage and develop the world accordingly. This shapes CSR as both a moral and religious initiative based on the belief that organizations should be ‘good’. Click here for more information.
How does the IRI maintain its neutral position internationally?
Some may point to potential difficulties in how the values and principles are interpreted across Islam, but the IRI is a cross-denominational organization that represents the whole of the House of Islam, in adherence with the Amman Message that recognises all eight schools of Islamic jurisprudence. Our objectives are to provide guidance that pertains exclusively to business and finance under the values and principles of Islam according to the Shariah. We are confident that our Advisory Council that is represented by all schools of Islam can very quickly achieve consensus on any questions or issues regarding business and finance.
How does the IRI perceive the relationship between philanthropy and CSR?
The IRI recognizes the complementary relationship between CSR and philanthropy. The IRI believes that by integrating the values of philanthropy into strategic CSR practices, businesses can play a valuable role in creating healthy and prosperous societies. Click here for more information.
If my organization becomes a Signatory Member, may we use the IRI logo?
Yes. Organizations may use the designated IRI logo which will be sent upon registration. For further branding opportunities, please contact the IRI Liaison Office here.
How is the IRI funded?
An initial grant was provided by EMG Group, a registered supplier to the United Nations Global Marketplace #2633445. Additionally, the IRI is being funded by private donations and sponsorships from organizations and individuals with the same core values as the IRI. After the reporting framework is established, the IRI will be funded through training, auditing & certification fees, and events. Click here for more information.
How does the Foundation for the IRI ensure ethical practice?
The IRI Reporting Standard Foundation is registered in the Netherlands, which is part of the European Union. The ANBI status granted to us certifies our Foundation as a public benefit organisation as defined by the statute in the jurisdiction of the Netherlands. To receive such status, an organization has to be a non-governmental organization involved in specific activities related to the public good as described by the law, and be sufficiently transparent in its activities, governance and finances. As a part of its registration in the Netherlands, the IRI Reporting Standard Foundation must adhere to the standards of Anti-Money Laundering (AML) and Anti-Financial Crime (AFC) including Anti-Bribery and Corruption (ABC), Counter-Terrorism Financing (CTF), Anti-Fraud and other punishable criminal acts which are mandatory in the Netherlands as a member country of the Financial Action Task Force (FATF) and the European Union (EU).