Developing a Regional Islamic Economic Resilience Index Based on Maqasid al-Sharia and Islamic Social Finance

Herlina Septiani; Lilik Handriyani; Raudatul Hasanah

Authors

Herlina Septiani Department of Sharia Economics, Universitas Islam Negeri Mataram, Mataram, Indonesia
Lilik Handriyani Department of Sharia Economics, Universitas Islam Negeri Mataram, Mataram, Indonesia
Raudatul Hasanah Department of Sharia Economics, Universitas Islam Negeri Mataram, Mataram, Indonesia

Keywords:

islamic social finance, maqasid al-sharia, regional economic resilience, composite index, sustainable islamic development

Abstract

Regional economies are increasingly exposed to global disruptions, including economic crises, geopolitical instability, climate change, and rapid technological transformation, highlighting the need for comprehensive measures of economic resilience. Existing resilience indicators primarily emphasize macroeconomic performance and often overlook ethical, social, and institutional dimensions that are fundamental to sustainable development within the Islamic economic framework. This study aims to develop a Regional Islamic Economic Resilience Index (RIERI) by integrating the principles of Maqasid al-Sharia with Islamic Social Finance. The study employed a research and development approach using a mixed-methods design. A conceptual framework was established through a comprehensive literature review, followed by indicator identification, expert validation using the Delphi technique, weighting procedures, and composite index construction. The proposed index consists of five dimensions based on Maqasid al-Sharia: the protection of religion, life, intellect, lineage, and wealth, complemented by indicators reflecting institutional quality, social welfare, financial inclusion, governance, adaptive capacity, and Islamic Social Finance performance. The findings demonstrate that integrating Maqasid al-Sharia and Islamic Social Finance provides a more comprehensive assessment of regional economic resilience than conventional approaches by incorporating ethical governance, community empowerment, and sustainable development objectives. The proposed RIERI offers both theoretical and practical contributions by extending the application of Maqasid al-Sharia to resilience measurement while providing policymakers with an evidence-based tool to evaluate regional performance, identify development priorities, and formulate strategies that strengthen sustainable, inclusive, and resilient Islamic economic development.

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