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Monetary system

The understanding of the nature and role of money and the way the monetary policy should operate, is one of the most important contribution that Islamic finance may make to conventional finance. Traditionally, the economies of the Islamic world were unified through the dinar, the widely circulated currency, and a host of sophisticated financial concepts including bills of exchange, various forms of loan, and various forms of partnership.

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Piero della Francesca, ‘La città ideale’, Italy XVI century