The nature and possibility of Islamic economics in the light of the Quranic doctrines

The economics covers a wide range of issues [sciences] including the Islamic economics. There is a serious debate amongst the Muslim intellectuals’ circles about the very question. Some have thoroughly negated it while others have accepted with different descriptions. The present writing after posing the general remarks of the discussion touches the four prominent theories on the subject and has appropriately put forth the Quranic samples. Then, he deals with the ideal assumptions that can be derived from the Quranic doctrines. Following that, he analyzes and criticizes the four theories in the light of the Quranic teachings. The writer is of the view that the Muslim experts of economics, considering their worldview foundations and the Quranic anthropology and epistemological means (revelation,intellect and experience), can bring about a new Islamic economics that should be distinct from the contemporary economics.