MANAGEMENT
Giving Back Means More Than Running a Business A call to action to Muslim entrepreneurs: Start where you are BY NAAZISH YARKHAN
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ith consumers increasingly aware of the footprint that their favorite brands leave behind, corporate social responsibility (CSR) initiatives make good business sense. Over the last two decades, Western companies have steadily adopted ways to give back to their local communities — caring for the environment, involving themselves in local affairs and events, working to support fairtrade practices and fair wages, and similar initiatives. “Given the sheer power of their collective purchasing power, Muslims can shape corporate social responsibility practices, both as consumers and as business-owners. Start where you are,” says Javed Younis, who heads the Bridgeview, Illinois-based Maya Cosmetics.
THE MUSLIM DOLLAR: A HIDDEN GIANT Muslim entrepreneurs have made inroads into just about every field, from mom and pop grocery stores to diagnostic clinics, and from motels and gas stations to franchises. And just how powerful is the Muslim consumer globally? According to Dinar 58 ISLAMIC HORIZONS MAY/JUNE 2020
Standard’s State of the Global Islamic Economy 2019/20 report, “Muslim spend on cosmetics is estimated at $64 billion in 2018, versus $61 billion in 2017… The sector is forecast to reach $95 billion by 2024. ... Muslims spent $92 billion in 2018 on pharmaceuticals, from $87 billion the previous year ... With Muslim awareness of the need for halal pharmaceuticals on the rise, the industry is projected to grow to $134 billion by 2024.” Younis points to the research paper, “What Do Muslims Say About Corporate Social Responsibility?” that states, “since human beings have been created with an exalted and noble nature, they must utilize their potential by shouldering the responsibility of maintaining and developing the universe” (Z. Parvez, Building a New Society, 2000). This understanding of humanity’s responsibilities should drive the “Islamic economic vision and business philosophy, as it implies that human welfare cannot be satisfied by just concentrating on material needs alone.”
START WHERE YOU ARE Maya Cosmetics, the nation’s leading halal cosmetics company, has distribution outlets
in 43 countries. Not only does it produce halal nail polishes and beard care products, but it also regards giving back to the communities in which it operates as a cornerstone of its business practice. “These efforts weren’t originally part of our corporate mission, but rather just our Islamic upbringing. My late father was one of the most selfless people [I know,] and always taught me that if I was able to help someone in need, I should just do it,” says Younis. When the Islamic Food and Nutrition Council of America (IFANCA; https://ifanca. org/Pages/Index.aspx) first certified Maya Cosmetics as halal in 2016, the company’s concerns were limited to ingredients and manufacturing. But Maya Cosmetics didn’t stop at that, for as Younis states, “The other very important part of running a halal business is conduct. Being clear and concise on our product offering, including its advantages and limitations. Being honest and fair in all business transactions, providing healthy, safe products that give value to the consumer. As Muslims, these are all matters we have to answer to [God] about. At Maya Cosmetics, we do our best to incorporate these values into our day-to-day business dealings. It is not about distinguishing ourselves from the competition, but rather just being a responsible organization that gives back to the community. It’s about being human.” Besides donating to Islamic Relief, CAIR and similar organizations, as well as sponsoring iftars for several hundred people each Ramadan, Maya Cosmetics makes a conscious effort to source ingredients from fair-trade suppliers around the world. Approximately 20 percent of the ingredients used in its nail polish remover, as well as 40 percent used in its beard grooming products, are sourced under fair-trade. For instance, the company purchases its almond oil from Palestinian farmers at fair-trade prices, thereby giving suppliers and independent farmers a sustainable livelihood.
