A proposed maqasid al-shariah based measurement of socio-economic prosperity :a composite index for OIC countries

Abstract

This thesis proposed a maqasid al-shariah based composite index to measure the performance of socio-economic prosperity of OIC member countries. The thesis employed al-Imam al-Ghazali (d.505) and al-Imam al-Shatibi (d. 790)’s maqasid al-shariah framework which was further extended to socio-economic context by contemporary Islamic economist, Mohammed Umar Chapra. The research was strengthened by empirical testing of the maqasid al-shariah theory using a multivariate statistical technique called confirmatory factor analysis (CFA). The CFA analysis was conducted using a sample of 325 responses to a predetermined questionnaire distributed to Muslims aged 18 years and above. The empirical results of the analysis confirmed the hypothesized relationship among the five universal maqaṣid (preservation of din, nafs, nasl, mal and aql). Further, the researcher proposed a structural equation model (SEM) for the socio-economic development from a maqasid al-shariah paradigm. After the empirical confirmation of the maqasid al-shariah theory, the researcher developed and proposed a maqasid al-shariah based composite index of socio-economic prosperity for the OIC members. The index consisted of 5 dimensions of maqasid al-shariah (preservation of din, nafs, nasl, mal and aql). The indicators of each sub-indices are based on the data attributes available in the form of secondary data in publicly accessible databases. A total of 101 measurement indicators are included in the construction of the index. The OIC countries are ranked according to the performance in terms of their achievement of maqasid al-shariah. The results portrayed overall composite index ranking and individual maqaṣid index ranking (dīn index, nafs index, nasl index, māl index and aql index). The findings of the indexes revealed that the OIC members are performing comparatively lower in the area of preservation of aql and mal. Further, the results based on three key OIC member regions (Africa, Asia and Middle East) showed that the Middle East performed better than the other two regions, and Africa was the lowest performing region. The key contribution of the thesis is in the form of methodological contribution where the researcher proposed a way of constructing a maqasid al-shariah based composite index which could be used to measure the socio-economic policy performance in the OIC member nations. The thesis further contributed by empirical testing of maqasid al-shariah theory which is tested by conforming to the reality which was signified by a representative sample of Muslims.