Who was the first to establish an Islamic treasury (Bayt al-Mal)?
The first to establish Bayt al-Mal (the treasury) in Islam was the Commander of the Faithful, Umar ibn al-Khattab, may Allah be pleased with him. In the early days of the Islamic state, there was no Bayt al-Mal in the known sense, as the Messenger of Allah, peace and blessings be upon him, Abu Bakr, and Umar in the beginning of his caliphate, would immediately distribute and spend the funds due to their scarcity and the people's need. However, when the state expanded during Umar's era and its revenues increased, he established Bayt al-Mal and organized the diwans (departments), and this was in the fifteenth or twentieth year of the Hijra.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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