Prophet's Market

When the Prophet Muhammad migrated to Medina (622), there were several large markets dominated by Jewish and pagan merchants. In these markets, usury (interest), deficient weights and measures, and various trade practices prohibited by Islam were widespread. Realizing that it was detrimental for Muslims to remain economically dependent on these markets, the Prophet decided to establish a new market. The Messenger of Allah first visited the existing markets, including Banu Qaynuqa. Then, by setting up a large tent in Baki' al-Zubayr near the Banu Qaynuqa Market, he opened the first Muslim market. However, one of the prominent Jews, Ka'b ibn Ashraf, cut the tent ropes to sabotage this initiative. The Prophet, undeterred, established a permanent market in the larger area of Banu Sa'ida. He declared, "This is your market. Do not disturb each other. Do not collect market taxes," thus establishing the fundamental principles of the market. These principles were based on the following essentials: prohibition of fixed location and rent; equal participation for everyone; displaying goods in public areas; prevention of black market and monopolies; prohibition of deception. The first inspector of the market was the Prophet Muhammad himself. The Messenger regularly inspected the market, checked weights and measures, warned those who cheated, and punished them when necessary. In later periods, figures like Umar ibn al-Khattab and the female companion Samra bint Nuheyk al-Asadiyya were appointed to oversee the market. In a short time, this market attracted all commercial life, allowing Muslims to dominate a large portion of Medina's trade within four years. Over time, the market area expanded, maintaining its position as the main trade center of Medina during the Umayyad and Abbasid periods. [Source: TDV Islamic Encyclopedia, "Market" article, islamansiklopedisi.org.tr/pazar; TDV Islamic Encyclopedia, "Medina" article, islamansiklopedisi.org.tr/medine]