The contribution of the Muslim world to the financial development of Europe in the era of the Crusades

Recently, the share of Muslim countries in the global economy, including in the financial market, has been increasing. The question of how Muslims influenced the development of trading methods and financial transactions aims to determine the influence of the Muslim East on the financial development of Europe during the era of the Crusades. The work is based on the principle of historicism and the analysis of historical and historical-economic works. The study showed that the Crusades to the East became a trigger for increasing the role of money in the daily life of Europe and streamlining the mechanisms of storage and circulation of the money supply, for which they turned to the experience of Arab trade. The results of the study expand knowledge about the potential of strengthening the links between the European model of the financial system and Islamic banking.