IDEAS home Printed from https://ideas.repec.org/a/ris/isecst/0054.html
   My bibliography  Save this article

A Structural Model for Human Development, Does Maqāṣid al-Sharīʿah Matter!

Author

Listed:
  • MILI, MEDHI

    (University of Sfax, ISG- Sousse-Tunisia)

Abstract

Islamic scholars agree that Islam have the ultimate goal of being a mercy to humanity. This is, in fact, the primary purpose of Maqāṣid al-Sharīʿah. To achieve this goal it is necessary to promote human well-being. The main purpose of this study is to test how Maqāṣids’ al-Sharīʿah contribute to promote human welfare. We use a Partial Least Squares-Path model that allows us to indentify the causal relationships between Maqāṣid al-Sharīʿah components proposed by al-Ghazali (Hifth al Nafs, Hifhd al Dīn, Hidh al ʿAql, Hidh al Māl, Hidh al ʿAql) and their impact on human well-being. Using a sample of 30 Islamic countries, our empirical results show that dimensions used for Maqāṣid al-Sharīʿah objectives are homogeneous and representative. Globally, we find that Maqāṣid al-Sharīʿah contribute significantly to human wellbeing in Islamic countries. We show that Hifth al Nafs and Hifhd al Dīn are the most significant components that affect human well-being. While we find evidence that Hidh al ʿAql didn’t have a significant impact on human development index. This may be due to other factors that can affect the quality of life in some Islamic countries such as the effect of natural resource wealth.

Suggested Citation

  • Mili, Medhi, 2014. "A Structural Model for Human Development, Does Maqāṣid al-Sharīʿah Matter!," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 22, pages 47-63.
  • Handle: RePEc:ris:isecst:0054
    as

    Download full text from publisher

    File URL: http://www.irti.org/English/Research/Documents/IES/084.pdf
    File Function: Full text
    Download Restriction: no

    File URL: http://www.irti.org/English/Research/Documents/IES/165.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. El-Gamal,Mahmoud A., 2009. "Islamic Finance," Cambridge Books, Cambridge University Press, number 9780521741262, January.
    2. Bassam Maali & Peter Casson & Christopher Napier, 2006. "Social reporting by islamic banks," Abacus, Accounting Foundation, University of Sydney, vol. 42(2), pages 266-289, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Salman Bahoo & M. Kabir Hassan & Andrea Paltrinieri & Ashraf Khan, 2019. "A model of the Islamic sovereign wealth fund," Islamic Economic Studies, Emerald Group Publishing Limited, vol. 27(1), pages 2-22, August.
    2. Arman Mergaliyev & Mehmet Asutay & Alija Avdukic & Yusuf Karbhari, 2021. "Higher Ethical Objective (Maqasid al-Shari’ah) Augmented Framework for Islamic Banks: Assessing Ethical Performance and Exploring Its Determinants," Journal of Business Ethics, Springer, vol. 170(4), pages 797-834, May.
    3. Francesc Relano, 2023. "Ethical and Islamic Banking Compared from a Time-Based Perspective," Journal of Business Ethics, Springer, vol. 188(4), pages 795-805, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Farook, Sayd, 2007. "On Corporate Social Responsibility Of Islamic Financial Institutions," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 15, pages 31-46.
    2. Elasrag, Hussein, 2015. "Corporate social responsibility in Islam," MPRA Paper 63670, University Library of Munich, Germany.
    3. Muhammad Ali & Syed Ali Raza & Chin-Hong Puah & Mohd Zaini Abd Karim, 2017. "Islamic home financing in Pakistan: a SEM-based approach using modified TPB model," Housing Studies, Taylor & Francis Journals, vol. 32(8), pages 1156-1177, November.
    4. Pejman Abedifar & Shahid M. Ebrahim & Philip Molyneux & Amine Tarazi, 2015. "Islamic Banking And Finance: Recent Empirical Literature And Directions For Future Research," Journal of Economic Surveys, Wiley Blackwell, vol. 29(4), pages 637-670, September.
    5. Bhavana Raj KONDAMUDI & Dr. SINDHU, 2013. "Demystifying Risk Management – Business & Growth Implications," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 13-20.
    6. Sofia Yasmin & Roszaini Haniffa & Mohammad Hudaib, 2014. "Communicated Accountability by Faith-Based Charity Organisations," Journal of Business Ethics, Springer, vol. 122(1), pages 103-123, June.
    7. Widiarto, Indra & Emrouznejad, Ali, 2015. "Social and financial efficiency of Islamic microfinance institutions: A Data Envelopment Analysis application," Socio-Economic Planning Sciences, Elsevier, vol. 50(C), pages 1-17.
    8. Ahmed Hassanein & Mohamed M. Mostafa, 2023. "Bibliometric network analysis of thirty years of islamic banking and finance scholarly research," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(3), pages 1961-1989, June.
    9. Mr. Enrique A Gelbard & Mr. Mumtaz Hussain & Mr. Rodolfo Maino & Mr. Yibin Mu & Mr. Etienne B Yehoue, 2014. "Islamic Finance in Sub-Saharan Africa: Status and Prospects," IMF Working Papers 2014/149, International Monetary Fund.
    10. Muhammad Y. Khan & Shahab Ud Din & Majid J. Khan & Anam Javeed, 2021. "Dynamics of selecting Islamic home financing," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5005-5016, October.
    11. Raphie Hayat & Frank Butter & Udo Kock, 2013. "Halal Certification for Financial Products: A Transaction Cost Perspective," Journal of Business Ethics, Springer, vol. 117(3), pages 601-613, October.
    12. Muhammad Bilal Zafar & Ahmad Azam Sulaiman, 2019. "Corporate social responsibility and Islamic banks: a systematic literature review," Management Review Quarterly, Springer, vol. 69(2), pages 159-206, June.
    13. Karbhari, Yusuf & Muye, Ibrahim & Hassan, Ahmad Fahmi S. & Elnahass, Marwa, 2018. "Governance mechanisms and efficiency: Evidence from an alternative insurance (Takaful) market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 56(C), pages 71-92.
    14. Jean-Baptiste Desquilbet & Fedi Kalai, 2013. "Contrat De Depot Et Partage Du Risque De Liquidite Dans La Banque Islamique :Une Approche A La Diamond Et Dybvig: Deposit Contracts And Liquidity Risk Sharing In Islamic Banks: A Diamond And Dybvig Ap," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 56(3-4), pages 389-412.
    15. Stefano Garzella & Raffaele Fiorentino, 2013. "How to control environmental strategy?," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2013(1), pages 45-76.
    16. Nathan Berg & Jeong-Yoo Kim, 2013. "Prohibition of Riba and Gharar: A signaling and screening explanation?," Working Papers 1314, University of Otago, Department of Economics, revised Nov 2013.
    17. Faris Nasif AL- Shubiri & Abedalfattah Zuhair Al-Abedallat & Marwan Mohammad Abu Orabi, 2012. "Financial and Non Financial Determinants of Corporate Social Responsibility," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 2(8), pages 1001-1012.
    18. Firdaus I. Kharisova* & Gulia M. Iskhakova & Alfiya R. Yusupova & Ildar K. Kharisov, 2018. "Formation of Financial Statements at Islamic Financial Institutions," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 128-132:5.
    19. Kamla, Rania, 2009. "Critical insights into contemporary Islamic accounting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 20(8), pages 921-932.
    20. Akrum Helfaya & Amr Kotb & Rasha Hanafi, 2018. "Qur’anic Ethics for Environmental Responsibility: Implications for Business Practice," Journal of Business Ethics, Springer, vol. 150(4), pages 1105-1128, July.

    More about this item

    Keywords

    Maqāṣid al- Sharīʿah; human well- being; Hifth al Nafs; Hifhd al Dīn; Hidh al ʿAql; Hidh al Māl; Hidh al ʿAql; PLS-Path model .;
    All these keywords.

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:isecst:0054. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: IRTI Staff or the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/irisbsa.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.