Financial instruments of the past

A description of the sakk and the hawala as two financial instruments of the Islamic world, as material for a question about financial decisions.

Lesson 1 of 1 8 of 8 in the course

Course map

Draft: this lesson was written with AI help and has not yet been read by a human editor.

What your class asks

This lesson asks you to identify a past or current financial situation and explain how it can inform financial decisions. The museum describes two instruments of the past and does not explain the decisions they guided; drawing out the decision and the related mathematics is your work with your class. 1

Curriculum expectations, with their official codes

  • F1.1 identify a past or current financial situation and explain how it can inform financial decisions, by applying an understanding of the context of the situation and related mathematical knowledge

The lesson

Who pays, who collects, and where and when?

Read the description and draw a simple diagram of the parties, places and amounts. Then ask what each party knows before deciding.

Go deeper

Read what the record says of the sakk. Hasan Ibrahim Hasan says in Tarikh al-Islam that the sakk is much like today's cheque. He cites al-Khwarizmi in Mafatih al-ulum that it gathered the names of those entitled to payment, their number, and what each was due 2. The caliph, sultan or prince then signed at its foot to authorise payment of these stipends 2. As the record gives it, one paper carried the names, the number and the sums, and one signature at the foot authorised payment. The same author adds that the word is still used in European languages 2.

How do we know?

The record presents both instruments as Hasan Ibrahim Hasan presents them in Tarikh al-Islam, and cites this one book for them 2. For what the sakk gathered he cites al-Khwarizmi, so a student reads one author's report of another's description, not a sakk. His comparison with the cheque and his remark about European words are what the record carries on how the instrument relates to later ones; it adds nothing more.

Think about it

Take a position and answer the strongest objection to it: is calling the sakk "much like today's cheque" a good way to learn what it was, given that the record describes one paper naming those entitled and what each was due, signed at its foot by a ruler?

Into the museum

Try this

Read The sakk and the hawala. Compare the sakk with a cheque of today in a two-column table: what is similar and what differs.

Check yourself

Nothing here is marked or sent anywhere. It is for you.

Which of these did you meet in this lesson?

Not in this lesson. Look again at the cards above.

Not in this lesson. Look again at the cards above.

Yes. That is the one from this lesson.

In your own words: what does The sakk and the hawala have to do with this lesson?

Compare with the card

The sakk and the hawala. Hasan Ibrahim Hasan presents the sakk and the hawala in Tarikh al-Islam as two financial instruments. The sakk is much like today's cheque; the author cites al-Khwarizmi in Mafatih al-ulum that it gathered the names of those entitled to payment, their number and what each was due, and the caliph, sultan or prince then signed at its foot. As evidence of how widely the hawala was used, the boatmen who ferried the Seljuk sultan Malikshah and his armies across the river Jayhun received bills of exchange from his vizier Nizam al-Mulk, and collected their value from the Seljuk agent in Antioch. Who gained from such an instrument, and how?

I can now

Notes

  1. 1. Ontario Ministry of Education, The Ontario Curriculum: Mathematics
  2. 2. Tarikh al-Islam — Hasan Ibrahim Hasan, p.400-401
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