The development of Islamic economics as a science : survey of process and progress

Abstract EN

Islamic economics is currently moving from a mere discourse on economics in Islamic perspective towards becoming a distinct science of Islamic economics.

Islamic economics, since the last three decades, is in the process of reaching a discipline status marked by a complete body of knowledge, clear subject matter, methodology / methodologies to appraise theories and continious grow of knowledge. This could be done if the scientific community put strong effort in explicating all the necessary foundations of science and achieving consensus on certain important aspects of the discipline.

In this paper we attempt to survey historically the development of Islamic economics towards becoming a distinct science independent of mainstream economics, evaluate the current practices adopted by the Islamic economics' scientific community in settling up problems, and outlining forward agenda in order to achieve this discipline status.