Babyshark´s Minority Report

During the Islamic Golden Age, which spanned approximately 500 years, between the 8th and 13th centuries, some early forms of capitalism and freemarkets existed. The dinar brought together previously economically independent regions. Before Islam, the city of Mecca was already a center of trade in Arabia, a place where not only goods but also ideas were exchanged. Islamic civilization grew thanks to its merchant economy. It was commerce, not holy war, that expanded the Muslim faith to Asia.

Islamic banking is based on the teachings of Prophet Mohammed, himself a merchant. During its heyday, shariah was the world’s most vibrant body of commercial law, its contracts recognized from the Arabian peninsula to the Iberian peninsula. The shariah issuedfatwas or opinions on which transactions were Islamically acceptable and which were forbidden. Shariah prohibits the payment or acceptance of interest fees for loans of money, a…

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