Maqasid Al-Shariah, SDGs and the Ottoman Waqf

The Ottoman awqaf addressed societal concerns far beyond the SDGs. People were born in waqf property, educated in waqf schools, worked in waqf enterprises, received medical treatment in waqf hospitals and were buried in waqf lands. During my research into the alignment of SDGs with the Maqasid al-Shariah (MaS) and how the awqaf sector can…

Setting a Maqasid-Driven Development Agenda for Islamic Finance – IV

More importantly, we examine how Islamic social finance in general and awqaf in particular can play a role in operationalizing the areas of alignment between MaS and SDGs. We also develop a comprehensive database of existing waqf-based initiatives across the globe with a view to documenting good practices by awqaf in meeting MaS as well…

Setting a Maqasid-Driven Development Agenda for Islamic Finance – III

The specific MaS corollaries that capture a clear spiritual and religious dimension could not be mapped to the SDGs that are faith-neutral, rooted in materialistic as well as moral considerations, and are mostly borne out of repeated market failures to address societal concerns. The Islamic vision of development has its origins in the Quran and…

Setting a Maqasid-Driven Development Agenda for Islamic Finance – II

If we want to juxtapose Maqasid-driven actions along with SDG-driven actions in the same two-dimensional space, a realistic approach would be to use spiritual gains and moral or ethical gains interchangeably. In this second part of the series on Setting a Maqasid-Driven Development Agenda for Islamic Finance, we continue our discussion on material gains versus…

Setting a Maqasid-Driven Development Agenda for Islamic Finance – I

With an expanded scope we propose to examine the alignment or misalignment between MaS and SDGs further down the hierarchy of goals. Highlighting areas of alignment are no less important than areas of misalignment. Our last publication on Sustainable Development Goals (SDGs) from a Shariah Perspective was motivated by the observed reluctance of Islamic financial…

Fighting Covid-19 with Sadaqah & Faith

The numbers are scary. As we write this, there are four and a quarter hundred thousand humans reported to be affected by the pandemic Covind-19. The number of deaths are fast approaching the twenty-thousand figure world-wide. No one can predict where these numbers are headed. Mankind has never faced a challenge of this magnitude during…

Blockchains through the Lens of Islamic Economics

Verifiability, traceability, immutability, validation through consensus, sharing through network, inter-generational distribution - attributes and concepts common to block chain methodology have a root in Islamic scholarship. The “chain” played a significant role in shaping the contours of Islamic economics, by creating the authenticated and tamper-proof records of the words of God and the words and…

The Issue of Identity in Digital Distribution of Zakat

My last blog ended on a note that digitizing zakat payments to beneficiaries would be more efficient, as compared to payments involving hard cash or in-kind payments, by avoiding costs related to leakages, fraud and ensuring greater accountability. This comes with a few qualifiers, however. We assume that the technology and infrastructure is there. And…

The Sustainable Development Goals from a Shariah Perspective – VII

Since the religion of Islam sets the agenda for development in predominantly Muslim societies, it is interesting to examine to what extent the SDGs conform to the Islamic vision of development. In order to explain the Islamic vision of development, Islamic scholars have come up with a broad framework rooted in what are called, the…

The Sustainable Development Goals from a Shariah Perspective – VI

Since the religion of Islam sets the agenda for development in predominantly Muslim societies, it is interesting to examine to what extent the SDGs conform to the Islamic vision of development. In order to explain the Islamic vision of development, Islamic scholars have come up with a broad framework rooted in what are called, the…