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

Abu Seman, Junaidah; Dzolkarnaini, Nazam

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.

Citation

Abu Seman, J., & Dzolkarnaini, N. (2019). Construction of Maqāṣid al-Sharīʿah-Based Index of Socio-Economic Development: Principles and Issues. In S. Syed Ali (Ed.), Towards a Maqasid al-Shariah Index of Socio-Economic Development: Theory and Application (159-188). Palgrave Macmillan. https://doi.org/10.1007/978-3-030-12793-0_5

• Online Publication Date: Sep 6, 2019
• Publication Date: 2019
• Deposit Date: Apr 9, 2019
• Publisher: Palgrave Macmillan
• Pages: 159-188
• Series Title: Palgrave Studies in Islamic Banking, Finance, and Economics
• Series ISSN: 2662-5121
• Book Title: Towards a Maqasid al-Shariah Index of Socio-Economic Development: Theory and Application
• Chapter Number: 5
• ISBN: 9783030127923
• DOI: https://doi.org/10.1007/978-3-030-12793-0_5
• Keywords: Index, Maqāṣid al-Sharīʿah , Socio-economic development
• Public URL: http://researchrepository.napier.ac.uk/Output/1717829