Financial transactions and their impact on the economic reality in the second Abbasid era in the fifth and sixth centuries AH

Abstract

As a result of the developments that took place in the life of the Arab-Islamic society and the functional specialization that occurred during the stages of great economic development, as well as the nature of the economic and financial policy of the Islamic state and the commercial progress and the accompanying expansion in the field of commercial exchanges and the crystallization of national concepts, and the steady increase in the imports of the Arab Islamic state, All these matters made the state an urgent need to circulate money in various financial transactions, i.e. the emergence of money, in line with the new conditions of the Arab Islamic state

The most important characteristic of any country is the existence of an organizational structure in the administrative and financial field, i.e. the existence of values ​​for the elements of production, goods and services, and the true representative of economic values ​​is the monetary price, which is the number of monetary units equivalent to the value of one unit of a particular commodity

The Arab Islamic state was interested in multiplying money as well as organizing the various revenues that lead to the value of the state and for various economic, social and military aspects, especially after the expansion of the Islamic conquests. It is to increase or decrease the multiplication of money in order to balance in the market, and this role stores the minerals used in multiplying money as a reserve, in addition to providing the treasury with financial resources because it is the one who mints the money according to the weight prescribed by Sharia.