FINANCIAL CULTURE IN OTTOMAN AND FINANCIAL INSTRUMENTS USED

Abstract

The Ottoman Empire ruled over a very wide geography for more than six centuries. In this geography where different cultures and religions take part, a naturally developing financial structure, as well as Islam, which is the official religion of the state, has been influential on the economic structure. In addition to the financial instruments required by Islamic religion, there is also a unique financial culture in accordance with the Islamic rules. In the study, information about the Islamic finance instruments used in the Ottoman Empire, which is an Islamic state, will be given. Later on, it will give information about funding methods such as mudaraba, murabaha, bidaa, musharaka, bey bilfa ve karz-ı hasen which are the financing methods of money foundations that emerged in Ottoman times and could be a solution to today's economic crisis. In the evaluation section, the contributions of the Ottoman financial structure to the current Islamic world will be explained with examples of what the reflections of the financial problems of Islamic countries will be.