Banking
(755 words)

During the nineteenth century, whether as ṣarrāfs (financial advisers) in the Middle East or tujjār al-sulṭān (royal merchants) in Morocco, members of the Jewish commercial elite used assets accumulated from money-changing, moneylending, and trade to open banks and to invest abroad. Middle Eastern Jewish bankers, in partnership with the European merchant bankers who were penetrating the region economically, provided the capital for factories, railroad construction, and real estate development in the Middle East. The European financiers were ma…

Cite this page
Reeva Spector Simon, “Banking”, in: Encyclopedia of Jews in the Islamic World, Executive Editor Norman A. Stillman. Consulted online on 24 July 2017
First published online: 2010



▲   Back to top   ▲