Developing maqasid index for Islamic CSR: the case of Ummah’s Endowment Fund in Indonesia

A. Ascarya, A. Masrifah
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引用次数: 1

Abstract

Purpose This study aims to develop the maqasid index (MI) for Islamic corporate social responsibility (CSR), namely, Dana Abadi Umat (DAU) (Ummah’s Endowment Fund) or MI-DAU in Indonesia. Design/methodology/approach Modeling and weighting are based on Delphi and analytic network process (ANP) methods, called Delphi–ANP additive weighting. The Delphi method was applied to design and validate the factors of the MI-DAU model, and the ANP method was applied to generate and validate weights for these factors. Finally, the MI-DAU is calculated, based on the planned budget and actual allocation of DAU returns, called the maslahah fund, using additive weighting. Findings Delphi and ANP show significant and robust results. The priority order and weights of maqasid Shariah are safeguard the faith (0.32), safeguard the intellect (0.219), safeguard the life (0.204), safeguard the wealth (0.171) and safeguard the lineage (0.104). Meanwhile, the priority order and weights of the main activities are education (0.190), Ummah’s economy (0.167), Hajj service (0.155), Da’wah (0.124), health care (0.118), social-religious (0.097), worship facilities (0.085) and disaster emergency response (0.065). Finally, the results of MI-DAU show a high index in 2019 and 2020 of 71.89 and 69.51, respectively, generated from allocation ratio of 90.63% and 85.98%, respectively. Research limitations/implications Maqasid Shariah used in this study follows Al-Ghazali, where it could also follow maqasid Shariah of Abu Zahrah or Al-Najjar. Moreover, the MI-DAU score uses additive calculations, where it can also use Pentagon calculation. Practical implications The improved framework and method used to design MI-DAU in this study could be applied to design more scientific MI for other Islamic financial institutions. Originality/value The novelty of this study is in the improved method used to design the MI model, including its factors, using Delphi, and to assign weights of all factors using ANP, where both provide validation for more robust MI model.
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为伊斯兰企业社会责任发展maqasid指数——以印尼乌玛捐赠基金为例
本研究旨在发展伊斯兰企业社会责任(CSR)的maqasid指数(MI),即印度尼西亚的Dana Abadi Umat (DAU) (Ummah 's Endowment Fund)或MI-DAU。设计/方法学/方法建模和加权基于德尔菲和分析网络过程(ANP)方法,称为德尔菲- ANP加性加权。采用德尔菲法对MI-DAU模型各因子进行设计和验证,采用ANP法对各因子的权重进行生成和验证。最后,根据计划预算和DAU收益的实际分配(称为maslahah基金),使用加法加权计算MI-DAU。发现delphi和ANP显示显著和稳健的结果。伊斯兰教法的优先级和权重分别为:保护信仰(0.32)、保护智力(0.219)、保护生命(0.204)、保护财富(0.171)和保护血统(0.104)。同时,主要活动的优先顺序和权重依次为教育(0.190)、Ummah经济(0.167)、朝觐服务(0.155)、Da 'wah(0.124)、医疗保健(0.118)、社会宗教(0.097)、礼拜设施(0.085)和灾害应急响应(0.065)。最后,MI-DAU结果显示,2019年和2020年的高指数分别为71.89和69.51,这是由配置比例分别为90.63%和85.98%产生的。本研究中使用的maqasid Shariah遵循Al-Ghazali,也可以遵循Abu Zahrah或Al-Najjar的maqasid Shariah。此外,MI-DAU得分使用加法计算,也可以使用五角大楼计算。实践意义本研究改进的MI- dau设计框架和方法可用于为其他伊斯兰金融机构设计更科学的MI。独创性/价值本研究的新颖之处在于改进的方法用于设计MI模型,包括其因素,使用德尔菲,并使用ANP分配所有因素的权重,两者都为更稳健的MI模型提供了验证。
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来源期刊
CiteScore
5.40
自引率
10.00%
发文量
45
期刊介绍: The International Journal of Islamic and Middle Eastern Finance and Management (IMEFM) publishes quality and in-depth analysis on current issues within Islamic and Middle Eastern finance and management. The journal welcomes strong evidence-based empirical studies and results-focused case studies that share research in product development and clarify best practices. The title is also keen to consider work from emerging authors. IMEFM has just also accepted into Clarivate''s SSCI in 2018, and its IF will be available in summer 2019, with citations dating from 2016. The coverage includes but is not limited to: -Islamic finance: Fundamentals, trends and opportunities in Islamic Finance, Islamic banking and financial markets, Risk management, Corporate finance, Investment strategy, Islamic social finance, Financial planning, Housing finance, Legal and regulatory issues, -Islamic management: Corporate governance, Customer relationship management and service quality, Business ethics and corporate social responsibility, Management styles and strategies in Shariah environments, Labour and welfare economics, Political economy. The journal is the only title aiming to give an interdisciplinary and holistic view on Islamic finance and business management practices in order to inform these two intertwined communities.
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