Socioeconomic Development Based on Maqasid al-Shariáh: The Case of selected OIC Countries

Abstract

Purpose: The measures of development keep on changing over time.
Starting from economic growth, structural change models, GNI per
capita, and nowadays HDI, which includes inequality and environmental
concerns, are considered as measures of development. However, the
meaning and goals of development for Muslims are different from the
contemporary concept of development. Based on Islamic approach to
development, we have constructed a maqa¯s.id al-Shar¯ı‘ah-based index of
socioeconomic development using the data of WVS 7 for 15 OIC member
countries.
Methodology: The Alkire and Foster dual count methodology of
constructing multidimensional poverty index has been used to measure
the maqas ¯.id al-Shar¯ı‘ah based index of socioeconomic development.
Findings: According to our findings, the most maqa¯s.id al-Shar¯ı‘ah (MS)
deprived country is Nigeria and the least deprived is Tajikistan.
Significance: The relative ranking of the countries based on the score of
indices of MS dimensions will help these countries to divert policy focus
and resources for the betterment of their people.
Limitations: The data used in the construction and measurement of MS
index (and MS dimensions indices) are borrowed questions taken from
the World Value Survey 7 for 15 OIC member countries.
Practical Implication: The measured value of MS index will help in
ranking of Muslim countries on the basis of five dimensions of maqa¯s.id
al-Shar¯ı‘ah. The given MS ranking of countries can be compared with
HDI ranking of UNDP.