Market and Bâzâr

Abstract

A prominent feature of Islamic civilization throughout its history is the significant emphasis placed on commerce. The cultural background of market and market conceptions holds significance in this perspective. The term bâzâr can refer to a physical location where goods and services are bought and sold, and market represents an intangible institutional framework that represents the concept of exchange. Traditional bâzârs in Islamic regions serve as platforms that facilitate various forms of social mobility, including fostering cultural and commercial cohesion, facilitating religious practices, showcasing the political and economic influence of the nation, and conducting administrative tasks through bilateral meetings with societal leaders. The Ukaz Fair is the most renowned among these. Multiple Indigenous groups partake in this fair, wherein levies are typically exempted from trade items and patrons. During the pre-Islamic era, the commerce caravans of the Quraysh tribe extensively traveled over the Arabian Peninsula, visiting various locations such as Gaza, Bayt al-Maqdis, and Damascus. They also crossed the Red Sea to reach Abyssinia and traveled from the Persian Gulf to the Euphrates delta. Hashim was the pioneer of these commerce caravans. The advent of Islam brought about a redefinition of the notions of bâzâr and markets. Islam has implemented various regulations that promote and govern trade. These requirements encompass measures to guarantee trade security, measures to assure trade justice, and measures to combat trade unfair competition.