In this paper I investigate the vivid discussions among Muslim theologians and philosophers about the relationship of reason and religion from the 11th to the 14th centuries – which continue to be used as points of reference today. I argue that the idea of Islam as a religion which is in harmony with reason was one of the key postulates of the dominant thinkers of that period, regardless of their school of thought or their attitude towards literal or allegorical ways of understanding the Coran. In consequence, religion has been rationalized or even intellectualized to a high degree while philosophy in turn has been deeply coloured by religious images and concepts. Yet the understanding of religion as well as of reason and its instruments has been so heterogeneous that rationalization could bear very different, even conflicting meanings, thereby undermining the postulated harmony. In seven theses I foreground several striking similarities and differences between theologians and philosophers who diverge in their usage and understanding of reason as well as of the nature of religion.