Islamic empire and trade

ISLAMIC Civilization

Economy & trade

The size & strength of the Islamic Empire 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• Muslim merchants gained increasing

control of Indian Ocean trade.

• Both luxury goods & necessities were part of the trade network.– Textiles were an important part of

regional trade and manufacturing– Horses, medicine, paper, and

sugar were important exports

• the Abbasids developed a system in which inspectors worked to keep trade practices fair– weights & measures, etc

• A single currency became the standard throughout the Islamic Empire during the Abbasid period– The Abbasid dinar

• Banks were set up in cities throughout the Islamic empire.–Letters of credit (sakks) helped trade

• The Arabic language helped facilitate trade • The demands on trade also generated

development of crafts. • Merchants continued to hold relatively high

status during this period.