ISLAMIC Empire ISLAMIC Empire Economy Economy Commerce and Trade Commerce and Trade
Nov 28, 2014
ISLAMIC EmpireISLAMIC Empire
EconomyEconomy
Commerce and TradeCommerce and Trade
The size & strength of the Islamic Empire The size & strength of the Islamic Empire fostered trade!fostered trade!
•There were few borders and relative stability! •Trade was safer and taxed less.
The Islamic empire took control of . . .
• Mediterranean trade
• part of the Silk Roads and Trans-Saharan Trade Routes
• Muslim merchants gained increasing control of Indian Ocean trade.
• With increased trade, there was also increased cultural diffusion and spread of ideas.
• Banks were set up in cities throughout the Islamic empire.
– Letters of credit (sakks) helped trade
• A single currency became the standard throughout the Islamic Empire during the Abbasid period– The Abbasid dinar
• Both luxury goods & necessities were part of the trade network.– Textiles and paper were an
important part of regional trade and manufacturing
– Horses, medicine, and sugar were important exports
• the Abbasids developed a system in which inspectors worked to keep trade practices fair– weights & measures, etc