Construction of Maqāṣid al-Sharīʿah-Based Index of Socio-Economic Development: Principles and Issues

Junaidah Abu Seman () and Nazam Dzolkarnaini ()
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Junaidah Abu Seman: Universiti Sains Islam Malaysia
Nazam Dzolkarnaini: Edinburgh Napier University

Chapter Chapter 5 in Towards a Maqāṣid al-Sharīʿah Index of Socio-Economic Development, 2019, pp 159-188 from Palgrave Macmillan

Abstract: Abstract The promotion of achieving Maqāṣid al-Sharīʿah through socio-economic development is considered an agenda priority in many countries especially where Muslims population is dominant. This paper addresses the dimensions and indicators related to the computation of Maqāṣid al-Sharīʿah-based index. It is developed based on five pillars of Maqāṣid al-Sharīʿah, namely human self (nafs), faith (din), intellect (ʿaql), posterity (nasl) and wealth (māl). Based on prior studies computing financial inclusion index, the issue of data is similarly expected in building the Maqāṣid al-Sharīʿah-based index. While numerous amounts of data are available on many aspects of the financial sector, systematic indicators of inclusiveness of the financial sector are not. As a consequence, the paper also examines the data available to compute the Maqāṣid al-Sharīʿah-based index as well as issues pertaining to it.

Keywords: Index; Maqāṣid al-Sharīʿah; Socio-economic development; C43; Z12; Z13 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-3-030-12793-0_5

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DOI: 10.1007/978-3-030-12793-0_5

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