Toward construction Islamic economic development index

Abstract

This study proposes to construct a new measure of economic development under Islamic perspective. The proposed index, Islamic Economic Development Index (I-EDI henceforth] includes all dimension within the framework of the Maqasid al-Shariah, which is basically concerned with the pr-emotion of human well being through the preservation of self, wealth, posterity intellect and faith. Since achieving comprehensive and holistic welfare of human being is the objective of economic development, this index comprises both material as well as non material welfare.