Banking and credit transactions in the Umayyad era


  • Rasul Rahma Shihan Prof. Naeem Dunian Obaid(phd)


transactions, banking, bills


Banking and credit operations are linked in markets related to buying and selling, or what is called trade, especially if this profession is restricted and based on the rules and controls of Sharia law that came in the Holy Qur’an and the noble Sunnah of the Prophet, as Islam permitted buying and selling and approved the provisions that guarantee its safety in light of the interests of the individual and society. Likewise, the wisdom of buying and selling is that some people obtain goods and money that they do not have, and they need them for a fair price that they have, while others need it, i.e. the owner of the goods. Thus, the needs of both parties, the seller and the buyer, are satisfied, and this also provides an incentive for production and a guarantee for human needs. So it becomes clear to us that loans and deposits Banking, instruments, and bills of exchange are among the most important of these operations, which facilitated commercial dealings

Additional Files