(d) Describe the impact of Islam on the Middle East.
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About 20% of the world's Muslims live in the Middle East. Islam is a monotheistic religion, teaching belief in one God (Allah) and is based on the Quran. Muslims believe that Muhammad is the final prophet of God in a long chain of prophets, from Adam on down to John the Baptist, Jesus, and finally Muhammad.
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Between the 9th and 14th centuries, the Muslim world developed many advanced concepts, techniques and use in production, investment, finance, economic development, taxation, property use such as Hawala, an early informal value transfer system, Islamic trusts are known as waqf, systems of contract relied upon by ...
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