Decision making tools for resource allocation based on Maqasid Al- Shariah
The major focus of past literature on Al-Maqasid was on developing the theory, and most of the discussion centered on its legal dimensions. The pioneering works emanated from scholars such as, Al-Juwayni (n.d), Al-Ghazali (1901), Al-Shatibi (n.d), Ibn ‘Ashur (1998) and Ibn Taymiyyah (al-Raysuni, 199...
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| Format: | Article |
| Language: | English |
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Islamic Research and Training Institute (IRTI), Islamic Development Bank
2011
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| Online Access: | http://irep.iium.edu.my/47076/1/47076_-_Decision_making_tools_for_resource_allocation_based_on_Maqasid_Al-_Shariah.pdf |
| _version_ | 1825649261170130944 |
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| author | Moussa, Larbani Mustafa Omar, Mohammed |
| author_facet | Moussa, Larbani Mustafa Omar, Mohammed |
| author_sort | Moussa, Larbani |
| collection | IIUM |
| description | The major focus of past literature on Al-Maqasid was on developing the theory, and most of the discussion centered on its legal dimensions. The pioneering works emanated from scholars such as, Al-Juwayni (n.d), Al-Ghazali (1901), Al-Shatibi (n.d), Ibn ‘Ashur (1998) and Ibn Taymiyyah (al-Raysuni, 1992). Recently, the application of Al-Maqasid in various disciplines including economics and finance has been gaining prominence. Among the leading economists who have written on the subject, to mention a few are Chapra (1985; 2004), Biraima M.E. (1991), Siddiqi (2000), Ahmad (2000), Atya (2003), Hasan (2004) and Al-Najjar (2008). Their works however, relate Al-Maqasid to the discipline of economics in a broad theoretical framework. Dusuki (2005) went a step further relating Al-Maqasid to Corporate Social Responsibility. Hameed et al. (2005) tried to develop what they termed as ‘Islamicity Disclosure Index’ to measure and compare the performances of two Islamic banks. A refined work by Mustafa et al. (2008) developed a quantitative performance measure for Islamic banking from the theory of Al-Maqasid. The present study is taking Al-Maqasid a step further. It develops a decision making tool based on Al-Maqasid al-Shari[ah and their levels of Maslahah for the managers of firms to use in allocating their investible resources to vital sectors of the economy. The developed model can be extended to other decision making problems. Thus, this contribution opens a new direction of research: the analytic operationalization of Al-Maqasid al-Shari'ah. |
| first_indexed | 2024-03-05T23:45:05Z |
| format | Article |
| id | oai:generic.eprints.org:47076 |
| institution | International Islamic University Malaysia |
| language | English |
| last_indexed | 2024-03-05T23:45:05Z |
| publishDate | 2011 |
| publisher | Islamic Research and Training Institute (IRTI), Islamic Development Bank |
| record_format | dspace |
| spelling | oai:generic.eprints.org:470762016-07-20T07:02:57Z http://irep.iium.edu.my/47076/ Decision making tools for resource allocation based on Maqasid Al- Shariah Moussa, Larbani Mustafa Omar, Mohammed H61 Theory. Method HB131 Methodology.Mathematical economics. Quantitative methods HG Finance The major focus of past literature on Al-Maqasid was on developing the theory, and most of the discussion centered on its legal dimensions. The pioneering works emanated from scholars such as, Al-Juwayni (n.d), Al-Ghazali (1901), Al-Shatibi (n.d), Ibn ‘Ashur (1998) and Ibn Taymiyyah (al-Raysuni, 1992). Recently, the application of Al-Maqasid in various disciplines including economics and finance has been gaining prominence. Among the leading economists who have written on the subject, to mention a few are Chapra (1985; 2004), Biraima M.E. (1991), Siddiqi (2000), Ahmad (2000), Atya (2003), Hasan (2004) and Al-Najjar (2008). Their works however, relate Al-Maqasid to the discipline of economics in a broad theoretical framework. Dusuki (2005) went a step further relating Al-Maqasid to Corporate Social Responsibility. Hameed et al. (2005) tried to develop what they termed as ‘Islamicity Disclosure Index’ to measure and compare the performances of two Islamic banks. A refined work by Mustafa et al. (2008) developed a quantitative performance measure for Islamic banking from the theory of Al-Maqasid. The present study is taking Al-Maqasid a step further. It develops a decision making tool based on Al-Maqasid al-Shari[ah and their levels of Maslahah for the managers of firms to use in allocating their investible resources to vital sectors of the economy. The developed model can be extended to other decision making problems. Thus, this contribution opens a new direction of research: the analytic operationalization of Al-Maqasid al-Shari'ah. Islamic Research and Training Institute (IRTI), Islamic Development Bank 2011-12 Article PeerReviewed application/pdf en http://irep.iium.edu.my/47076/1/47076_-_Decision_making_tools_for_resource_allocation_based_on_Maqasid_Al-_Shariah.pdf Moussa, Larbani and Mustafa Omar, Mohammed (2011) Decision making tools for resource allocation based on Maqasid Al- Shariah. Islamic Economic Studies, 19 (2). pp. 51-68. ISSN 1319-1616 http://iesjournal.org/english/home.html |
| spellingShingle | H61 Theory. Method HB131 Methodology.Mathematical economics. Quantitative methods HG Finance Moussa, Larbani Mustafa Omar, Mohammed Decision making tools for resource allocation based on Maqasid Al- Shariah |
| title | Decision making tools for resource allocation based on Maqasid Al- Shariah |
| title_full | Decision making tools for resource allocation based on Maqasid Al- Shariah |
| title_fullStr | Decision making tools for resource allocation based on Maqasid Al- Shariah |
| title_full_unstemmed | Decision making tools for resource allocation based on Maqasid Al- Shariah |
| title_short | Decision making tools for resource allocation based on Maqasid Al- Shariah |
| title_sort | decision making tools for resource allocation based on maqasid al shariah |
| topic | H61 Theory. Method HB131 Methodology.Mathematical economics. Quantitative methods HG Finance |
| url | http://irep.iium.edu.my/47076/1/47076_-_Decision_making_tools_for_resource_allocation_based_on_Maqasid_Al-_Shariah.pdf |
| work_keys_str_mv | AT moussalarbani decisionmakingtoolsforresourceallocationbasedonmaqasidalshariah AT mustafaomarmohammed decisionmakingtoolsforresourceallocationbasedonmaqasidalshariah |