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Decision making tools for resource allocation based on Maqid Al- Sharah

The major focus of past literature on Al-Maqid 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)...

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Main Authors: Larbani, Moussa, Omar Mohamad, Mustafa
Format: Article
Language:English
Published: Islamic Research and Training Institute (IRTI), Islamic Development Bank 2011
Subjects:
HB131 Methodology.Mathematical economics. Quantitative methods
Online Access:http://irep.iium.edu.my/35213/12/Decision_Making_Tools_for_Resource_Allocation.pdf
http://irep.iium.edu.my/35213/
http://iiibf.org/elief-ies.html
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spelling my.iium.irep.352132015-03-19T08:39:49Z http://irep.iium.edu.my/35213/ Decision making tools for resource allocation based on Maqid Al- Sharah Larbani, Moussa Omar Mohamad, Mustafa HB131 Methodology.Mathematical economics. Quantitative methods The major focus of past literature on Al-Maqid 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-Maqid 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), Siddiqi (2000), Ahmad (2000), Atya (2003), Hasan (2004) and Al-Najjar (2008). Their works however, relate Al-Maqid to the discipline of economics in a broad theoretical framework. Dusuki (2005) went a step further relating Al-Maqid 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-Maqid. The present study is taking Al-Maqid a step further. It develops a decision making tool based on Al-Maqid al-Sharah and their levels of Malaah 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-Maqid al-Sharah. Islamic Research and Training Institute (IRTI), Islamic Development Bank 2011 Article REM application/pdf en http://irep.iium.edu.my/35213/12/Decision_Making_Tools_for_Resource_Allocation.pdf Larbani, Moussa and Omar Mohamad, Mustafa (2011) Decision making tools for resource allocation based on Maqid Al- Sharah. Islamic Economic Studies, 19 (2). pp. 51-68. ISSN 1319-1616 http://iiibf.org/elief-ies.html
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic HB131 Methodology.Mathematical economics. Quantitative methods
spellingShingle HB131 Methodology.Mathematical economics. Quantitative methods
Larbani, Moussa
Omar Mohamad, Mustafa
Decision making tools for resource allocation based on Maqid Al- Sharah
description The major focus of past literature on Al-Maqid 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-Maqid 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), Siddiqi (2000), Ahmad (2000), Atya (2003), Hasan (2004) and Al-Najjar (2008). Their works however, relate Al-Maqid to the discipline of economics in a broad theoretical framework. Dusuki (2005) went a step further relating Al-Maqid 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-Maqid. The present study is taking Al-Maqid a step further. It develops a decision making tool based on Al-Maqid al-Sharah and their levels of Malaah 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-Maqid al-Sharah.
format Article
author Larbani, Moussa
Omar Mohamad, Mustafa
author_facet Larbani, Moussa
Omar Mohamad, Mustafa
author_sort Larbani, Moussa
title Decision making tools for resource allocation based on Maqid Al- Sharah
title_short Decision making tools for resource allocation based on Maqid Al- Sharah
title_full Decision making tools for resource allocation based on Maqid Al- Sharah
title_fullStr Decision making tools for resource allocation based on Maqid Al- Sharah
title_full_unstemmed Decision making tools for resource allocation based on Maqid Al- Sharah
title_sort decision making tools for resource allocation based on maqid al- sharah
publisher Islamic Research and Training Institute (IRTI), Islamic Development Bank
publishDate 2011
url http://irep.iium.edu.my/35213/12/Decision_Making_Tools_for_Resource_Allocation.pdf
http://irep.iium.edu.my/35213/
http://iiibf.org/elief-ies.html
_version_ 1643610753246167040
score 13.211869

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