Bait al-Mal

Bait al-Mal, meaning "house of wealth" in Arabic, was an Islamic treasury or fund used historically to manage state finances. It collected revenue from taxes, trade, and gifts, then allocated resources for public needs such as infrastructure, welfare, armies, and administration. Essentially, it served as the government’s financial hub, ensuring economic stability and social justice by redistributing wealth for the common good. Today, similar concepts exist in government finance, where a central treasury or budget manages public funds for national development and services.