ABSTRACT
The methodology of the Tawhidi worldview, the primordial and monotheistic law of Oneness of God in an Islamic epistemological context concerning socio-scientific reasoning, formalism, and application is distinctly contrary to mainstream economics in general and Islamic mainstream economics in particular. There is a fundamental flaw in all of this latter kind of reasoning. This is due to the ignorance of the Tawhidi epistemological moorings by those who profess Islamic mainstream economic reasoning. In the field of participatory financing, the consequences of such intellectual ambivalence have seen the complete misunderstanding of the extensively relational epistemological methodology of participation derived from the Qur’an and the sunnah in the development of the purpose and objective of the shari’ah, namely maqasid as-shari’ah. The result has been a demeaning position of Islamic economics and finance in new ideas that emerge from new epistemological and ontological foundations. The latter kind of challenging erudition can be enabled by the new and irreducible epistemic reasoning premised on the Tawhidi methodology and its functioning in the generality and particulars (e.g. Islamic participative financing) of the world-system of unity of knowledge. This chapter bridges this methodological gap and applies that analytical Tawhidi methodology to general and participatory financing instruments in light of the Tawhidi precept of inter-causal relational ‘pairing’ occurring in diversity as the sure worldly meaning and evidence of the Tawhidi epistemic oneness.
