Means of Financial Transactions in the Abbasid State in the Century

(3 Ht / 9 m) (Instrument, Seal, and Banking Model)

Dr. Hatem Fahd Hano Al-Taie (pp. 72–88)

Abstract

Financial transactions were one of the main pillars of the Islamic economy. They were closely linked to the industrial, agricultural, and commercial activities of societies through the need for trade and barter, as well as the state’s need for new financial mechanisms. To ensure safety compared to traditional gold dinars and silver dirhams, which were difficult to transport due to the risk of theft, the Abbasid state relied on instruments, seals, and banking methods to facilitate financial transactions and trade between cities and regions. This research highlights the role of these methods in securing people’s wealth and facilitating commerce, focusing on the use of instruments, seals, and the banking system within the Abbasid state. The conclusion presents the main findings derived from the study.

Keywords: Transactions, financial, Abbasid, instrument, banking