New answers tagged islam
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Question:
Were Jews cut off from the Babylonian Geonim?
The Islamic Schism was a secondary reason for the waning influence of the Babylonian Geonim. The primary reason was economic, and is tied to the decline and troubles incurred by the city of Baghdad itself.
History of Baghdad
Baghdad's early meteoric growth slowed due to troubles within the ...
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In the early Islamic empires, the state charged an alms tax on Muslim subjects (zakat). It was mainly intended for charity but war "in the path of God" (jihad) was also a permitted use for it. This tax covered practically all types of wealth, including not just gold and silver but also livestock, land rent, merchandise and agricultural produce.
There was ...
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Firstly, if the loan is intended to finance the purchase of a specific asset, then the seller is allowed to accept being paid later or in installments, and is allowed to charge a mark-up on the 'spot price' to compensate for the value of time (this would not be considered usury under Islamic law). There could also be a middle man (i.e. a financier) who buys ...
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Partly through semantics, by replacing use of "interest" either as a term or calculation by a complete system of "reciprocal gifts". In a sense, there is a bit of willful blindness occurring.
As I understand it, a mortgage amortization table would be a wholly acceptable system of reciprocal gifts once all internal use of the terms interest and principal ...
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Given that riba is prohibited, as I understand, OP is asking about consumer loans and banks making a profit.
The full-explanation requires detailed consideration of politics and philosophy of Islam. So, a simpler answer (if I may) is to just focus on the instruments used in consumer banking (transactions & savings).
On payments, there is a spot pricing ...
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As most other borders these are results of long, hard centuries of wars, beginning with Islamic conquests. The border on the strait of
Gibraltar is the result of 780 years of Reconquista. The borders in Eastern Europe are the result of the Turkish conquest of the Eastern Roman empire, and later conquest of Hungary, with the following almost continuous ...
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Questions:
What I don't understand, however, is why Islam didn't spread any further to the EAST.
I would say this question can be answered in two words. The Mongols. 8th century to the 14th century, the Islamic world came under significant pressure from one of the most sucessful military expansionist empires the world has ever seen. The Mongols ...
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