A maqasid al-Shari'ah based composite index to measure socio-economic prosperity in OIC countries
Abstract
This paper proposes a maqasid al-Shari'ah based composite index to measure the performance of socio-economic policies of OIC member countries. The paper employs Al-Imam Al-Ghazali and Al-Iman Al-Shatibi's maqasid al-Shari'ah framework which was later further extended to contemporary socio-economic context by Chapra (2009). The paper also presents the findings of proposed composite index using a vast array of 101 variables for 57 OIC members, taking data from over 15 sources. The countries will be ranked according to the performance in terms of their achievement of maqasid al-Shari'ah. The results portray overall composite index ranking, individual maqasid index ranking (d?n index, nafs index, nasl index, mal index and 'aql index). Further, results based on three key OIC member regions (Africa, Asia and Middle East) will be presented. The proposed index offers a new tool for measuring the performance of OIC member countries with respect to socio-economic policies. It also shows the key areas of concern when it comes to the attainment of maqasid al-Shari'ah in Muslim societies. The paper will also highlight the data availability in OIC countries and propose areas for further data collection and data management in order to accurately measure maqasid al-Shari'ah.
Keywords
Composite index , Maqasid al-Shari'ah , OIC , Socio-economic development , Socioeconomic policies
Citation
Nizam, I., & Larbani, M. (2015, June 1-2). A maqasid al-Shari'ah based composite index to measure socio-economic prosperity in OIC countries [Paper presentation]. Roundtable Policy Discussion on Maqasid Shariah, Kajang, Selangor.
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