Friday, June 21, 2013

The Biggest Problem: Ignorance

Many people thought that banking practice is a genuine invention of Italian people with their "banco" style. New findings proved that Knight Templar already praticed banking activities prior to what Italian did for the first time. However, if one steps back more to older history, they will find that even Baghdad and Basra people during Abbasid dinasty (long time before Crussade when Templar was formed and established) already involved in paper documents as collecting instrument.


Baghdad as center of administration and Basra in the south, called as "Venice of the East" due to its popularity as business center, was connected by smooth caravan route, but take more one day to reach each other place. To ensure the safety of trade assets in the route, the merchants used different techniques so that they could avoid obstacles that might harm the journey. Among the techniques used by the merchants is sending documents to their colleagues, so that they do not need to go to other place, except to representative of the sender in their city.That is why there were people known as  Jihbiz, Sarraf and Naqid.

Jihbiz,Sarrafand and Naqid are interchangable term used by people referring to from money changer to debt settler or factoring  in modern terminology.

Muslims in Abbasid rule in Baghdad until Nasiriyah rule in Andalusia (now Spain) are surpassed in science and technology ahead of other christian countries, which the intellectuals said "still lived under dark age" due to power of Church over the state and science.

Continued...

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