Bismillah,
Assalamualaikum wa rahmatullahi wa barakatuhu!
In promoting the concept of the bill of exchange, saqq or cheque, Muslims made the finance of commerce and inter-continental trade possible.
The modern cheque comes from the Arabic 'saqq', a written vow to pay for goods upon delivery. The use of saqq was born out of the need to avoid dangers and difficulties in carrying coins. In the 9th century, a Muslim businessman could cash a saqq in China drawn on this bank in Baghdad under a highly developed 'banking system'.
:)
wsalam
All information and facts are extracted from the following media.
1001inventions.com
bbc.co.uk/history/ancient
muslimheritage.com
Assalamualaikum wa rahmatullahi wa barakatuhu!
In promoting the concept of the bill of exchange, saqq or cheque, Muslims made the finance of commerce and inter-continental trade possible.
The modern cheque comes from the Arabic 'saqq', a written vow to pay for goods upon delivery. The use of saqq was born out of the need to avoid dangers and difficulties in carrying coins. In the 9th century, a Muslim businessman could cash a saqq in China drawn on this bank in Baghdad under a highly developed 'banking system'.
:)
wsalam
All information and facts are extracted from the following media.
1001inventions.com
bbc.co.uk/history/ancient
muslimheritage.com
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