Irfan Ali Thanvi

The Economic Reforms of the Ottoman Empire Irfan Ali Thanvi

The threats which Ottomans enfaced through their preceding journey of establishment, throughout their realm, often were outward, as in the case of the Crusaders, Romans and the Tartars. Nonetheless the socio-economic revolutions of the late nineteenth and the early twentieth century's transformed the political environment in and around the empire. Especially, the Indian first war of independence in 1857, precipitated Sultan Abdülmecid I to parry and vie with his European contemporaries, consequently ordered to form a council to devise a series of brand new reforms to replenish the lost glory of the empire. This council, consisting of a group of senior officials, military leaders, and 'ulama was appointed to oversee the development of these reforms known as the Ottoman "Tanzimat", which hitherto resulted in the establishment of the Ottoman Central Bank, Ottoman Lira as a state currency, a fragile yet fleeting constitution, a delinquent parliament, an errant Medjdie order to commemorate European sovereignty by appeasing Military powers and a comprehensive yet compelling Land law code.