The development of the monetary system in the Ilkhanid state (656-736 AH/1258-1335 AD) (Historical Study)

Abstract

This research delves into the nature and development of the monetary system in the Ilkhanate, the state founded by Hulagu Khan on the ruins of the Abbasid Caliphate in the 7th century AH/13th century CE. Following the success of military campaigns, and in order to maintain the momentum of military victories, administrative and economic achievements were necessary. This was accomplished by utilizing the expertise and skills of people from the conquered nations, such as the Arabs, Persians, Chinese, and others. Historians agree that these conquerors presented a unique model in developing their financial systems, based on integration, the effects of which were reflected positively in the monetary system. This is what we will attempt to explore within the pages of this research.