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Bayt al-mal

Bayt al-mal is an Arabic term that is translated as "House of money" or "House of wealth". Historically, it was a financial institution responsible for the administration of taxes in Islamic states; particularly in the early Islamic Caliphate, it functioned as something of a mix between a Central Bank and a Treasury. It was managed by the caliphs and sultans, in dealing with the personal finances of muslim citizens and government expenditures. Furthermore, it administered the investment of zakat revenues into public affairs and private muslim endeavors, as well as distributing jizya to the islamic populace.

History
Bayt al-mal was the department that dealt with the revenues and all other economical matters of the state. In the time of Muhammad, there was no permanent Bait-ul-Mal or public treasury. Whatever revenues or other amounts were received were distributed immediately. The last receipt during the life of the Prophet was a tribute from Bahrain amounting to 800000 dirham which was distributed in just one sitting. There were no salaries to be paid, and there was no state expenditure. Hence the need for the treasury at public level was not felt. In the time of Abu Bakr as well there was no treasury. Abu Bakr earmarked a house where all money was kept on receipt. As all money was distributed immediately the treasury generally remained locked up. At the time of the death of Abu Bakr, there was only one dirham in the public treasury. According to Rahman, the word bayt mal al-muslimin (or bayt mal-Allah) referred originally to the building in early Muslim history where war spoils and other public properties of the caliphate were stored and re-distributed to the community, but over time the term evolved to refer to the societal institution owning such public properties of the Muslims, and hence encompasses the authority in control of the state's public revenue and expenditures. in Damascus During the Rashidun Caliphate, various welfare programs were introduced by Caliph Umar. Umar himself lived "a simple life and detached himself from any of the worldly luxuries," like how he often wore "worn-out shoes and was usually clad in patched-up garments," or how he would sleep "on the bare floor of the mosque." Limitations on wealth were also set for governors and officials, who would often be "dismissed if they showed any outward signs of pride or wealth which might distinguish them from the people." This was an early attempt at erasing "class distinctions which might inevitably lead to conflict." Umar also made sure that the public treasury was not wasted on "unnecessary luxuries" as he believed that "the money would be better spent if it went towards the welfare of the people rather than towards lifeless bricks." Tahir ibn Husayn, governor of the Khurasan province of the Abbasid Caliphate, states in a letter to his son that pensions from the treasury should be provided to the blind, to look after the poor and destitute in general, to make sure not to overlook victims of oppression who are unable to complain and are ignorant of how to claim their rights, and that pensions should be assigned to victims of calamities and the widows and orphans they leave behind. The "ideal city" described by the Islamic philosophers, Al-Farabi and Avicenna, also assigns funds to the disabled. When communities were stricken by famine, rulers would often support them though measures such as the remission of taxes, importation of food, and charitable payments, ensuring that everyone had enough to eat. However, private charity through the Waqf trust institution often played a greater role in the alleviation of famines than government measures did. From the 9th century, funds from the treasury were also used towards the Waqf (charitable trusts) for the purpose of building and supporting public institutions, often Madrassah educational institutions and Bimaristan hospitals. ==References==
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