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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Main Authors:	Moussa, Larbani, Mustafa Omar, Mohammed
Format:	Article
Language:	English
Published:	Islamic Research and Training Institute (IRTI), Islamic Development Bank 2011
Subjects:	H61 Theory. Method HB131 Methodology.Mathematical economics. Quantitative methods HG Finance
Online Access:	http://irep.iium.edu.my/47076/ http://irep.iium.edu.my/47076/ http://irep.iium.edu.my/47076/1/47076_-_Decision_making_tools_for_resource_allocation_based_on_Maqasid_Al-_Shariah.pdf

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spelling	iium-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
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	H61 Theory. Method HB131 Methodology.Mathematical economics. Quantitative methods HG Finance
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
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.
format	Article
author	Moussa, Larbani Mustafa Omar, Mohammed
author_facet	Moussa, Larbani Mustafa Omar, Mohammed
author_sort	Moussa, Larbani
title	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_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_sort	decision making tools for resource allocation based on maqasid al- shariah
publisher	Islamic Research and Training Institute (IRTI), Islamic Development Bank
publishDate	2011
url	http://irep.iium.edu.my/47076/ http://irep.iium.edu.my/47076/ http://irep.iium.edu.my/47076/1/47076_-_Decision_making_tools_for_resource_allocation_based_on_Maqasid_Al-_Shariah.pdf
first_indexed	2023-09-18T21:07:00Z
last_indexed	2023-09-18T21:07:00Z
_version_	1777410999995858944

Decision making tools for resource allocation based on Maqasid Al- Shariah

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