History of Islamic economicsBetween the 9th and 14th centuries, the Muslim world developed many advanced economic concepts, techniques and usages. These ranged from areas of production, investment, finance, economic development, taxation, property use such as Hawala: an early informal value transfer system, Islamic trusts, known as waqf, systems of contract relied upon by merchants, a widely circulated common currency, cheques, promissory notes, early contracts, bills of exchange, and forms of commercial partnership such as mufawada.
Bayt al-malBayt al-mal (بيت المال) is an Arabic term that is translated as "House of money" or "House of wealth." Historically, it was a financial institution responsible for the administration of taxes in Islamic states, particularly in the early Islamic Caliphate. It served as a royal treasury for the caliphs and sultans, managing personal finances and government expenditures. Further, it administered distributions of zakat revenues for public works. Modern Islamic economists deem the institutional framework appropriate for contemporary Islamic societies.
BimaristanUn bimaristan est un établissement charitable musulman destiné à soigner et offrir l'hospitalité aux individus victimes d'une atteinte à leur santé (pathologies, blessures, fractures, etc.). Il s'agissait d'un élément constitutif et central du système médical institutionnel dans les régions du monde appartenant à la civilisation islamique. Même si, en général, leur activité n'est historiquement authentifiée que durant l'âge d'or des sciences arabo-musulmanes, nous savons que des bimaristans ont continué de fonctionner jusqu'au XIXe siècle dans certains territoires musulmans (Inde moghole, État d'Alger, ville d'Istanbul.