Developing an Islamic Corporate Culture at Perbadanan Kemajuan Ekonomi Islam Negeri Perak (PKEINPk)

Abstract

Perbadanan Kemajuan Ekonomi Islam Negeri Perak (PKEINPk) was set up as a semi-governmental body associated with the government of the state of Perak. Its mission and vision is to promote the Islamic economic development of the state of Perak. Its legal status has changed as a private company was formed and all the assets and all the employees were transferred to this private company. This new corporate structure allowed the organization to become more efficient and more competitive. Currently, PKEINPk has about 200 employees, assets of around RM 100 million and it generates a decent profit. Mr Tarmizi, the chief operating officer, has a clear strategy for achieving the company’s vision and mission. The question is whether he can turn a sleepy medium size organization into a dynamic organizations that adhere to Islamic values. His aim is to recruit a HR expert from a large multinational based in Kuala Lumpur and persuade him to join a small company based in Ipoh. He cannot offer the salary or the glamor. So what will he say? How will the expert respond? In fact, isn’t building a corporate culture based on Islamic values simply a dream?