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| Topic: |
History
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| Number of pages / Number of words: |
5 / 1327 |
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(Wikipedia, Islamic Golden Age) Muslims cannot have any money invested in forbidden goods or activities, for example, wine, pork, gambling, etc. (Wikipedia, Islamic Economics in the World) But they always found ways around collection interest, for example a mortgage transaction. The bank would buy the house from the owner and let them purchase the house back at a higher price, still letting the “buyer†to pay the bank in installments...
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The bank would buy the house from the owner and let them purchase the house back at a higher price, still letting the “buyer†to pay the bank in installments. (Wikipedia, Islamic banking) The city of Mecca, the city the Hajj lead to, filled by powerful merchant families, as a result of trade. (Wikipedia, Islamic Golden Age) Some other improvement to Islamic Capitalism include making companies, big businesses, contracts, bills of exchange, long-distance international trade, and the first forms of partnerships...
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