THEORY APPRAISAL IN ISLAMIC ECONOMIC METHODOLOGY: PURPOSES AND CRITERIA

The main objective of methodological query is to develop criteria of acceptance and rejection of a theory and providing rationalizations and guidelines in the process of theory appraisal and evaluation.

The purpose of theory appraisal in Islamic economics

Methodology of Islamic economics is developed in accordance with:

• the needs and requirements of the subject-matter (object of study) of discipline
• the provisional sources of knowledge to solve that subject-matter (discipline’s body of problem).


The economic theory appraised from those multiple sources of economic knowledge does three tasks: 


• links the doctrine and practical reality
• explains realities and their relationship in a holistic way
• helps in goal realization

The criteria for theory appraisal in Islamic economics

- This methodological process aims at producing “good theory”; differentiating fit theory fromthe unfit one; and ensuring further progress in theoretical (nazariyyah) and practical (‘amaliyyah) aspects of the discipline.

1. The criteria of internal-integrity.

2. The criteria of relational-unity; Unity perspective in understanding realities ; Unity of doctrine and practical realities

References : Hafas Furqani, Mohamed Aslam Haneef, (2012) "Theory appraisal in Islamic economic

methodology: purposes and criteria", Humanomics, Vol. 28 Issue: 4, pp.270-284, https://

doi.org/10.1108/08288661211277335