Trade and Commerce of Early Islamic World

The early Islamic world relied heavily on trade and commerce. Many parts of the world had extensive trading networks, including remote regions like China, Africa, and Europe. Islamic authorities built and maintained public facilities like schools, hospitals, dams, and bridges using fees collected from affluent merchants.

Money

Money plays a crucial role in every economy, and Islamic traders were no exception. The dinar, a gold currency, and the dirham, a silver coin, were the two primary coinage used in Islam. However, major transactions were frequently completed on paper using “suftaja,” or letters of credit. On lengthy trading routes, these letters were significantly lighter to carry than heavy money. Merchants might take the papers to a moneychanger once they arrived in a new city to exchange for coins.

Trade Goods

Islamic traders engaged in a wide range of trading activities, including the sale of slaves, gold, horses, textiles, spices, and sugar. Due to the Islamic Empire’s size, traders were able to transport products from China to Europe. Many traders rose to great wealth and authority.

Market Routes

Muslim trade routes were widespread over most of Asia (including China and India), Northern Africa, and Europe. These trade routes included the well-known Silk Road and extended stretches of land travelled by sea. Mecca, Medina, Constantinople, Baghdad, Morocco, Cairo, and Cordoba were significant trading hubs.

Caravans

Merchants travelled in huge groups known as caravans when a trading route was over land. With everything from physicians and entertainment to armed guards and translators, caravans were almost like mobile cities. They offered the traders and their wares protection. A typical caravan would cover about 15 miles per day on its way to overnight rest areas known as “caravanserai.”

Increase in Islam

The expansion of Islamic trade directly contributed to the growth of the Islamic faith. Muslims quickly spread throughout West Africa after traders carried their religion there. Through commerce and Islamic Sufis, nations in the far east like Malaysia and Indonesia also converted to Islam. Other areas, like as India, China, and Spain, also saw a gradual increase in the size of their Muslim populations.

Trade and Commerce in the Islamic Golden Age: Interesting Facts

Archaeologists from as far distant as Sweden, Britain, and China have discovered Islamic currencies.

The Islamic world regarded merchants with reverence. The family of the prophet Muhammad was one of merchants.

The slave trade had a significant role in the economy. While some slaves were bought at slave markets in northern and western Africa, others were acquired as prisoners during the Islamic conquests.

In Asia, Africa, and Europe, art, science, food, and clothes were all exchanged thanks to the extensive Islamic trade network.

Numerous Islamic business leaders were commanded by the Quran to treat one another properly and refrain from charging interest on loans.