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