Jeddah, KSA, 08.05.2014 - A two-day seminar on Maqasid al-Shari’ah-based Index for Socio-Economic Development, recently organized at the IDB Headquarters in Jeddah by the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IDB) Group, highlighted the importance of developing Shari’ah-based multi-dimensional indices for facilitation of policy making and comprehensive socio-economic development in IDB member countries.

The seminar was inaugurated by Professor Azmi Omar, Director General, IRTI, and Dr. Umer Chapra, a leading scholar on Maqasid al-Shariah delivered the keynote address. Experts from Indonesia, Malaysia, Pakistan, Saudi Arabia, Tunisia, Turkey, and UK as well as the IDB and IRTI presented papers.

The seminar noted that in order to develop such indices, extensive consultation with policy makers and other stakeholders in the IDB member countries is required. This is expected to take place during the 39th IDB Annual Meeting, slated for 27-28 Sha’ban, 1435H (25-26 June, 2014).

IRTI has developed a prototype index which is being finalized by a network of researchers and policy makers. It will be presented during the IDB Annual Meeting.

The participants agreed to hold the next seminar in Yogyakarta, Indonesia, in June 2014. The papers presented at the seminar are available at: www.irti.org.