ECONOMICS

 

 To see my menu of all Muslim science posts, click https://muslimscience.blog/2016/08/10/mymenu/

 

Grand Bazaar in Istanbul

SELLING ON CONSIGNMENT
Muslims invented the commenda, which is a legal contract for selling on consignment.
Image by Dmgultekin, via Wikimedia Commons.

Abu Hanifa an-Nu‘man (699 – 767) was the founder of the Hanafi school of Sharia law. His teachings are a basis of modern Islamic banking.

Abu Yusuf (731-798) was a Sunni Hanafi imam. His teachings are a basis of modern Islamic banking.

Ibn Khaldun (a Muslim of Spanish Arab descent, who lived in Tunis and Cairo) in the 14th century wrote about some concepts of economic theory similar to those of Adam Smith.
image credit https://commons.m.wikimedia.org/wiki/File:Grand-Bazaar_Shop.jpg#mw-jump-to-license

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