Sattūqah (ستوقة)
Definition
Sattūqah (ستوقة) - A term referring to a base coin in Islamic financial practices. It is widely used among merchants in day-to-day transactions but is not accepted in the public treasury. The purity of metal content is a distinguishing factor; coins in which the pure metal predominates are not deemed as base.
Etymology
The term Sattūqah (Arabic: ستوقة) is derived from Arabic roots, typically used in the context of economics and numismatics. The etymological background involves historical use and categorization of coins based on metal purity and market acceptance.
In Turkish, the term could be referred to as “Sattüka” given the general transliteration from Arabic to the Turkish language, although the specific term might vary regionally.
Context and Usage
- Merchants’ Coinage: Sattūqah coins are frequently utilized amongst merchants for trade and business transactions.
- Public Treasury: These coins are not accepted in the public treasury due to their lower metal purity.
- Economic Relevance: The classification of a coin as Sattūqah impacts its value, usability, and exchange rate in comparison to coins with higher metal purity.
- Historical Significance: Understanding the concept of Sattūqah offers insights into Islamic economic history and the monetary policies implemented during various caliphates and sultanates.
References in Literature
The description of Sattūqah can be found in Hamilton’s Hidāyah (vol. ii, p. 560), which offers comprehensive insights into its applications and characteristics within Islamic law and financial practices.
Recommended Books for Further Study
- “Islamic Coins and their Values Volume 1” by Tim Wilkes - Essential reading on the history of Muslim coinage, providing context for alla types of coins including Sattūqah.
- “Money in Islam: A Study in Islamic Political Economy” by Murat Çizakça - Overview of money and economic policies in Islamic history.
- “Introduction to Islamic Finance” by M. Taqi Usmani - Provides a foundational understanding of Islamic financial principles, including the role of different types of currency.
Takeaways
- Economic Insight: Sattūqah serves as an example of how currency utility and acceptance can vary within financial systems.
- Historical Connection: Studying Sattūqah offers a broader understanding of Islamic numismatics and the evolution of financial practices.
Conclusion
Sattūqah coins, due to their lower metal purity, play a distinct role in the realm of Islamic finance and offer significant insights into the economic strategies of historical Islamic societies. Understanding these coins enhances one’s comprehension of the complex interplay between commerce and treasury operations in Islamic history.
By looking deeper into the types of coins like Sattūqah, we can appreciate the intricate economic policies and trading practices that have been cultivated within Islamic civilizations.
