Towards a maqasid al-Shariah based development index
Joint Authors
Hasan, Hamid
Muhammad, Malik
Ali, Salman Sayyid
Source
Journal of Islamic Business and Management
Issue
Vol. 8, Issue 1 (30 Jun. 2018), pp.20-36, 17 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2018-06-30
Country of Publication
Pakistan
No. of Pages
17
Main Subjects
Economics & Business Administration
Abstract EN
This study examines the theoretical framework, develops axioms and a method to gauge socio-economic development in line with maqasid al-Shariah.
The measure is disaggregated and multidimensional to facilitate policy guidance at various levels of aggregation.
The study applies Alkire-Foster counting methodology to construct maqasid al-Shariah Index using World Values Survey data for Pakistan.
Results based on maqasid al-Shariah head count index show that 39% of the population is falling short of desirable level in maqasid al-Shariah.
Intensity index of maqasid al-Shariah (MS) reveals that the average poor person with regard to MS is deprived in 31% of the indicators.
The multidimensional poverty in terms of maqasid al-Shariah is 12% in which the contribution of posterity is lowest (4.20%) and that of property is the highest (50%) suggesting a need to improve protection of wealth in MS sense in Pakistan.
Comparing with the multidimensional poverty calculated by the Oxford Poverty and Human Development Initiative (OPHI) and United Nations Development Programme (UNDP), Pakistan performs better in maqasid al-Shariah based-Index related to multidimensional poverty, as well as in the incidence and average intensity of poverty.
maqasid al-Shariah based-Index uses more dimensions and higher thresholds for deprivation cut-off as compared to OPHI and UNDP index, yet the poverty numbers are lower.
This shows a better socio-economic condition in Pakistan in the dimensions of maqasid al-Shariah.
American Psychological Association (APA)
Hasan, Hamid& Ali, Salman Sayyid& Muhammad, Malik. 2018. Towards a maqasid al-Shariah based development index. Journal of Islamic Business and Management،Vol. 8, no. 1, pp.20-36.
https://search.emarefa.net/detail/BIM-889054
Modern Language Association (MLA)
Hasan, Hamid…[et al.]. Towards a maqasid al-Shariah based development index. Journal of Islamic Business and Management Vol. 8, no. 1 (2018), pp.20-36.
https://search.emarefa.net/detail/BIM-889054
American Medical Association (AMA)
Hasan, Hamid& Ali, Salman Sayyid& Muhammad, Malik. Towards a maqasid al-Shariah based development index. Journal of Islamic Business and Management. 2018. Vol. 8, no. 1, pp.20-36.
https://search.emarefa.net/detail/BIM-889054
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 35-36
Record ID
BIM-889054