Beyond GDP: toward a falah development index (FalahDI) framework for measuring prosperity In Islamic economics

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dc.contributor.authorMagda Ismail Abdel Mohsin
dc.contributor.authorMohd Afzanizam Abdul Rashid
dc.contributor.authorShamimi Mohd Zulkarnaini
dc.date.accessioned2026-08-24T08:21:18Z
dc.date.available2026-08-24T08:21:18Z
dc.date.issued2026
dc.description.abstractThis paper proposes the Falah Development Index (FalahDI) as a multidimensional framework for measuring societal prosperity within the ethical paradigm of Islamic economics. The index seeks to address the limitations of conventional development indicators such as Gross Domestic Product (GDP), which focus primarily on economic output while overlooking ethical, social, and spiritual dimensions of human well-being. The study adopts a conceptual research approach based on normative analysis of Islamic economic principles and contemporary development literature. Drawing on the objectives of maqasid al-Shariah, the paper develops a multidimensional index framework integrating economic justice, social welfare, financial inclusion, environmental stewardship, governance integrity, and spiritual development. The proposed model combines conventional socio-economic indicators with Islamic-specific measures related to social finance institutions. The study presents the conceptual structure and measurement framework of the FalahDI, demonstrating how Islamic ethical principles can be operationalized into measurable development indicators. The framework highlights the role of Islamic social finance instruments such as zakat and waqf in promoting inclusive development and poverty alleviation. The FalahDI provides policymakers with a holistic tool for assessing development outcomes and designing policies that integrate economic performance with social justice, ethical governance, and sustainable development. This study contributes to the literature by proposing an integrated Islamic framework for development measurement that bridges ethical principles and empirical evaluation, offering an alternative paradigm for assessing societal prosperity.en_US
dc.identifier.citationA. Mohsin, M. I., Abdul Rashid, M. A., & Mohd Zulkarnaini, S. (2026). Beyond GDP: Toward a Falah Development Index (FalahDI) framework for measuring prosperity in Islamic economics. International Journal of Management and Applied Research, 13(2), 76-87. https://doi.org/10.18646/2056.132.26-005en_US
dc.identifier.doihttps://doi.org/10.18646/2056.132.26-005
dc.identifier.issn2056-757X
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/4339
dc.languageEnglish
dc.language.isoengen_US
dc.publisherInternational Journal of Management and Applied Researchen_US
dc.sourceSEDONA
dc.subjectIslamic economicsen_US
dc.subjectFalahen_US
dc.subjectMaqasid al-Shariahen_US
dc.subjectDevelopment measurementen_US
dc.subjectIslamic social financeen_US
dc.subjectSustainable developmenten_US
dc.titleBeyond GDP: toward a falah development index (FalahDI) framework for measuring prosperity In Islamic economicsen_US
dc.typeJournal Articleen_US
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic economicsen_US
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