AN EVALUATION ON MONEY LOAN AND INTEREST POLICY IN THE OTTOMAN EMPIRE FROM ITS FOUNDATION TO TANZIMAT ERA
The economic policies of the Ottoman Empire, which lasted for more than six centuries, were largely based on the agricultural economy. In fact, with the urbanization in the Ottoman Empire, the business division and the volume of exhange rate had devepoed expanded through the lonca, an economy based...
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| Formato: | article |
| Lenguaje: | DE EN FR TR |
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Fırat University
2019
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| Acceso en línea: | https://doaj.org/article/51bac85baac248378a543c1f404d2f14 |
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| Sumario: | The economic policies of the Ottoman Empire, which lasted for more than six centuries, were largely based on the agricultural economy. In fact, with the urbanization in the Ottoman Empire, the business division and the volume of exhange rate had devepoed expanded through the lonca, an economy based on monetary incidents was mentioned when the taxpayers had to give the state taxes and public expenses. The state had overcome many of the threats and dangers that were encountered from time to time with pragmatism, flexibility and negotiation. The role of normative economic understanding is great, when we consider especially that it survived against these external threats. The central government had institutionalized concrete policies such as property and land regime, taxation, price policy and coin adjustment. In 15th and 16th centuries, although there were not no developments such as banks and exchange as it was in the western world, there was a similar investment in the Ottoman Empire through partnerships (mudaraba) as a common application area. It was also the case that the interest was used in some way as the use of credit letters, and the activity of money laundries that were a primitive kind of banking. Within the framework of these evaluations, the study will focus on the banking, insurance, policy and interest policies and the functioning of financial institutions in the Ottoman Empire, and assess the reasons why these institutions do not develop as they develop in the Western sense |
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