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Constructing a maqasid (objective) based performance measurement index for Islamic banks

The current study aims to develop a Maqasid al-Shari’ah (Objective of Islamic Law) based new performance evaluation index for Islamic banks. In order to achieve the objective, the current study at first took twelve semi-structured interviews of academics and practitioners specialized in Islamic bank...

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Main Authors: Tarique, Kazi Md., Islam, Rafikul, Mohamed, Mustafa Omar, Abdul Razak, Dzuljastri, Hamdan, Hamdino
Format: Article
Language:English
English
Published: International Journal of the Analytic Hierarchy Process 2020
Subjects:
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/82785/7/82785_Constructing%20a%20maqasid%20%28objective%29%20based%20performance%20measurement%20index%20for%20Islamic%20banks.pdf
http://irep.iium.edu.my/82785/13/82785_Constructing%20a%20maqasid%20%28objective%29%20based%20performance%20measurement%20index%20for%20Islamic%20banks_Scopus.pdf
http://irep.iium.edu.my/82785/
https://www.ijahp.org/index.php/IJAHP/article/view/770
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spelling my.iium.irep.827852021-03-04T01:23:47Z http://irep.iium.edu.my/82785/ Constructing a maqasid (objective) based performance measurement index for Islamic banks Tarique, Kazi Md. Islam, Rafikul Mohamed, Mustafa Omar Abdul Razak, Dzuljastri Hamdan, Hamdino HG3368 Islamic Banking and Finance The current study aims to develop a Maqasid al-Shari’ah (Objective of Islamic Law) based new performance evaluation index for Islamic banks. In order to achieve the objective, the current study at first took twelve semi-structured interviews of academics and practitioners specialized in Islamic banking and finance (IBF) to select the variables for the index. Afterwards, to validate the selected variables a focus group discussion was arranged consisting of five experts in IBF. Then to prioritize the selected Maqasid variables, item and sub-items, analytic hierarchy process (AHP) is employed. The number of respondents in this case was thirty consisting of industry experts, Shari’ah scholars and academics. Lastly, an index is developed and tested on some selected Islamic banks of Malaysia and Bangladesh to rank their Maqasid based performance. The findings revealed that RHB Islamic bank ranked top among the sampled Islamic banks. Overall, Malaysian Islamic banks performed better than Bangladeshi Islamic banks. The novelty of this study lies in its contribution to the theory of Maqasid al-Shari’ah with respect to banking performance evaluation. The index is expected to assist the policy makers, practitioners and other stakeholders to tally Islamic banks performance in line with Maqasid al-Shari’ah and thus adopt necessary policy changes accordingly. International Journal of the Analytic Hierarchy Process 2020-08-28 Article PeerReviewed application/pdf en http://irep.iium.edu.my/82785/7/82785_Constructing%20a%20maqasid%20%28objective%29%20based%20performance%20measurement%20index%20for%20Islamic%20banks.pdf application/pdf en http://irep.iium.edu.my/82785/13/82785_Constructing%20a%20maqasid%20%28objective%29%20based%20performance%20measurement%20index%20for%20Islamic%20banks_Scopus.pdf Tarique, Kazi Md. and Islam, Rafikul and Mohamed, Mustafa Omar and Abdul Razak, Dzuljastri and Hamdan, Hamdino (2020) Constructing a maqasid (objective) based performance measurement index for Islamic banks. International Journal of the Analytic Hierarchy Process, 12 (2). pp. 328-354. ISSN 1936-6744 https://www.ijahp.org/index.php/IJAHP/article/view/770 10.13033/ijahp.v12i2.770
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
English
topic HG3368 Islamic Banking and Finance
spellingShingle HG3368 Islamic Banking and Finance
Tarique, Kazi Md.
Islam, Rafikul
Mohamed, Mustafa Omar
Abdul Razak, Dzuljastri
Hamdan, Hamdino
Constructing a maqasid (objective) based performance measurement index for Islamic banks
description The current study aims to develop a Maqasid al-Shari’ah (Objective of Islamic Law) based new performance evaluation index for Islamic banks. In order to achieve the objective, the current study at first took twelve semi-structured interviews of academics and practitioners specialized in Islamic banking and finance (IBF) to select the variables for the index. Afterwards, to validate the selected variables a focus group discussion was arranged consisting of five experts in IBF. Then to prioritize the selected Maqasid variables, item and sub-items, analytic hierarchy process (AHP) is employed. The number of respondents in this case was thirty consisting of industry experts, Shari’ah scholars and academics. Lastly, an index is developed and tested on some selected Islamic banks of Malaysia and Bangladesh to rank their Maqasid based performance. The findings revealed that RHB Islamic bank ranked top among the sampled Islamic banks. Overall, Malaysian Islamic banks performed better than Bangladeshi Islamic banks. The novelty of this study lies in its contribution to the theory of Maqasid al-Shari’ah with respect to banking performance evaluation. The index is expected to assist the policy makers, practitioners and other stakeholders to tally Islamic banks performance in line with Maqasid al-Shari’ah and thus adopt necessary policy changes accordingly.
format Article
author Tarique, Kazi Md.
Islam, Rafikul
Mohamed, Mustafa Omar
Abdul Razak, Dzuljastri
Hamdan, Hamdino
author_facet Tarique, Kazi Md.
Islam, Rafikul
Mohamed, Mustafa Omar
Abdul Razak, Dzuljastri
Hamdan, Hamdino
author_sort Tarique, Kazi Md.
title Constructing a maqasid (objective) based performance measurement index for Islamic banks
title_short Constructing a maqasid (objective) based performance measurement index for Islamic banks
title_full Constructing a maqasid (objective) based performance measurement index for Islamic banks
title_fullStr Constructing a maqasid (objective) based performance measurement index for Islamic banks
title_full_unstemmed Constructing a maqasid (objective) based performance measurement index for Islamic banks
title_sort constructing a maqasid (objective) based performance measurement index for islamic banks
publisher International Journal of the Analytic Hierarchy Process
publishDate 2020
url http://irep.iium.edu.my/82785/7/82785_Constructing%20a%20maqasid%20%28objective%29%20based%20performance%20measurement%20index%20for%20Islamic%20banks.pdf
http://irep.iium.edu.my/82785/13/82785_Constructing%20a%20maqasid%20%28objective%29%20based%20performance%20measurement%20index%20for%20Islamic%20banks_Scopus.pdf
http://irep.iium.edu.my/82785/
https://www.ijahp.org/index.php/IJAHP/article/view/770
_version_ 1693725783160258560
score 13.211869

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