- Trade in Muslim Empire
- India
- China
- Arabia
- Northwest Africa
- Egypt
- Black Sea
- Southwest Persa
- Reasons for trade
- Some of money from trade went into building irrigation systems and new canals which helped farmers
- Money also helped farmers if they had a bad year
- Bank System
- Started when Muhammad acted as an agent for his wife of her trading operations
- Islamic partnership didn’t use interest on day to day transaction
- Partnerships performed an important economic function
- Combined 3 most important things to maximize production:
- Capital, labor, entrepreneurship
- Currency
- Dinar was and is main form of currency
- Exactly 1163 Dinar currently go into an American dollar
- 1 loaf of bread in US is like 5,000 dinar
- Investing in Dinar is like buying stock: value wavers every day
- Sakks
- Sukus is the singular word
- Financial certificates, like bonds
- Issuer of a sukuk is basically selling a share of an asset to an investor group
- Recipient of the sukuk then rents it back to the issuer for a predetermined fee
- Interest cannot be charged during this process
- Has been an increase recently
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- Muslim Empire Religion
- Pray 5 times a day
- Believe they know everything about religion and it’s the only one that is right
- Believe Allah will give them 72 virgins
- Cause a lot of violent problems yet believe their religion is one of peace.
- Beliefs
- Believed that there is only one god
- Read many books of God – Qur’an
- Prophets of God, especially Muhammad
- Day of judgment
- Supremacy of God’s will
- Qur’an
- Verb meaning “he read”
- Believe that it’s different from all other books
- Impossible for any other book to be, such that similar texts can’t be written by humans
- Scholars of Islam believe that it’s poet if form is unique and of a fashion
- Claims to contain accurate prophecy
- History in the 10th century
- Muslims and their religion have greatly impacted the political economic and military history of the Old World especially Middle East
- Muslims believe that this revelation to humanity was written in the Qur’an
- History in 11th century
- Part of the Abbasid era
- Christianity was 11 percent
- Tried to spread religion and destroyed trade routes
- Mongol Invasion
- Major invasion occurred in the 13th century
- Main leader was Genghis Khan
- 2 strategies war:
- 1. used conquered soldiers or peasants as the front line
- used archery – generally on a horse
- favorite weapon was long bow made of wood and bone
- conquered most of the Asian continent
- Genghis Khan passed the leadership onto his sons
- Genghis Khan wasn’t tolerant of the Islam religion
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