Banking activity in the Abbasid period

The period of Islamic history known as the Abbasid era is renowned for the growth and sophistication of its mechanisms in political, cultural, and economic life. Although there were no modern-style banks at that time, there were individual bankers. The bankers of the time were predominantly Christians and Jews rather than Muslims, and their practices were not totally Islamic. The Abbasid government tended to patronize these solo bankers. During this era of Islamic history, much was done that led to the development of the idea of banking institutions. Banking by this stage had grown to such a level that the rudiments of a deposit, credit, money-transfer, and checking systems were apparent. The low money supply and a previously unseen level of advancement in trade, among other factors, boosted the banking system during this era.