Macro and micro-level indicators of maqasid al-sharrah in socio-economic development policy and its governing framework

Abstract EN

This paper sets macro-level and micro-level operational indicators for socio-economic development through a Maqāṣid al- Sharī‘ah framework.

It also sets forth six broad recommendations and nine specific initiatives within a four-dimensional framework for institutional governance, particularly for socio-economic development policy.

A lattice of multidimensional indicators and multipronged initiatives are proposed to address the multifaceted dimensions of institutional governance and the various transmission channels that influence socio-economic policy.

While empirical studies have demonstrated the importance of institutions and ethics in socio-economic development, the pressing issue remains how deep Maqāṣid al- Sharī‘ah understanding in human decision-making can be developed to influence behaviors that are efficient, inclusive, moral, and trustworthy that leads to peace, prosperity and progress.

This paper attempts to address this concern.