Muslim traders used which economic development to facilitate currency exchanges , including early forms of checks ? (point ) the dinar banks business partnerships funduqs
Muslim traders used the development of dinar banks, business partnerships, and funduqs to facilitate currency exchanges and early forms of checks.
Are you surr
Yes, I am sure about the information provided. Muslim traders during that time utilized various economic developments including dinar banks, business partnerships, and funduqs to facilitate currency exchanges and conduct trade transactions. These institutions played a crucial role in ensuring smooth economic exchanges and providing a secure system for currency conversion and storage. Additionally, early forms of checks emerged during this period, allowing traders to transfer funds in a safe and efficient manner.
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I apologize for any confusion. The economic development that Muslim traders used to facilitate currency exchanges, including early forms of checks, was the development of the funduqs. Funduqs were commercial centers or marketplaces that provided accommodation, storage, and banking facilities for traders. They allowed traders to deposit their funds in a central location and issue letters of credit that could be used as a form of currency or as an early form of checks. These letters of credit could be used to facilitate currency exchanges and conduct trade transactions.
