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Revisiting the index to measure Maqasid al-Sharı‘ah oriented performance of Islamic Banks : evidence from Pakistan
Joint Authors
Ayaz, Muhammad
Kalim, Rukhsana
Javed, Muhammad Mansur
Source
Journal of Islamic Business and Management
Issue
Vol. 10, Issue 1 (30 Jun. 2020), pp.12-27, 16 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2020-06-30
Country of Publication
Pakistan
No. of Pages
16
Main Subjects
Abstract EN
In the context of fulfillment of maq¯as.id al-Shar¯ı‘ah, Islamic banks’ performance has been measured by some researchers by adding many dimensions and elements to the five objectives of Shar¯ı‘ah, and resultantly many indices have been developed.
However, these dimensions and elements are either not comprehensive, or not relevant.
The objective of the present study is to provide an improved maq¯as.id al-Shar¯ı‘ah oriented performance index that includes all the five objectives of Ghazali’s theory of maq¯as.id al-Shar¯ı‘ah, namely protection of faith, life, intellect, family and wealth.
Additionally, the present study proposed more reflective measures to assess maq¯as.id oriented performance including share of financing based on non-controversial modes and percentage of value added that is distributed to various stakeholders.
The study applied Sekaran’s behavior science method and applied social accounting concept of value added statement and service profit chain as a logic to develop maq¯as.id index which is later on validated through experts’ interviews.
In addition, the study has also applied the proposed index using eight years data (2010-2017) from full-fledged Islamic banks of Pakistan to assess their maq¯as.id oriented performance.
The findings reveal that only protection of intellect oriented performance of Islamic banks is improving whereas other maq¯as.id oriented performances are deteriorating.
American Psychological Association (APA)
Javed, Muhammad Mansur& Ayaz, Muhammad& Kalim, Rukhsana. 2020. Revisiting the index to measure Maqasid al-Sharı‘ah oriented performance of Islamic Banks : evidence from Pakistan. Journal of Islamic Business and Management،Vol. 10, no. 1, pp.12-27.
https://search.emarefa.net/detail/BIM-1254856
Modern Language Association (MLA)
Ayaz, Muhammad…[et al.]. Revisiting the index to measure Maqasid al-Sharı‘ah oriented performance of Islamic Banks : evidence from Pakistan. Journal of Islamic Business and Management Vol. 10, no. 1 (2020), pp.12-27.
https://search.emarefa.net/detail/BIM-1254856
American Medical Association (AMA)
Javed, Muhammad Mansur& Ayaz, Muhammad& Kalim, Rukhsana. Revisiting the index to measure Maqasid al-Sharı‘ah oriented performance of Islamic Banks : evidence from Pakistan. Journal of Islamic Business and Management. 2020. Vol. 10, no. 1, pp.12-27.
https://search.emarefa.net/detail/BIM-1254856
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 25-27
Record ID
BIM-1254856