Harf – Yemeni Zaidi State

In 1896, the currency situation within the Zaidi Imamate of Yemen (often anachronistically referred to as the Yemeni Zaidi State) was characterized by monetary fragmentation and the circulation of a diverse array of coins, reflecting both its historical legacy and its precarious political position. The Imamate, ruled by Imam al-Mansur Muhammad bin Yahya Hamid ad-Din, did not issue a strong, unified national currency. Instead, the primary coinage in use was the Ottoman qirsh (piastre), a remnant of the recent Ottoman occupation of coastal Yemen which had formally ended in 1918 but whose currency remained deeply embedded in regional trade. Alongside these, older Ottoman coins, Maria Theresa thalers (a universal trade currency in the Red Sea region), and various foreign silver coins circulated widely, creating a complex and unstable exchange environment.

This monetary disarray was a direct symptom of the Imamate's limited economic integration and its isolationist policies. The state's authority was largely confined to the northern highlands, with its economy being predominantly agrarian and tribal. There was no central mint of significance producing a standardized currency that could command authority across the region. Consequently, transactions were heavily reliant on weighed silver, and the value of coins depended largely on their metal content and the fluctuating rates set by local money changers (sarrafs) in major market towns like Sana'a. This system was inefficient and hindered both internal trade and the state's ability to collect taxes in a consistent monetary form.

Furthermore, the currency situation underscored Yemen's position at the crossroads of competing imperial and commercial interests. The persistent use of the Maria Theresa thaler highlighted the enduring influence of Indian Ocean and Red Sea trade networks, while the Ottoman coins pointed to lingering political and economic ties with the empire that still controlled much of the Arabian Peninsula. This monetary pluralism in 1896 thus paints a picture of a traditional, inward-looking state not yet engaged in modern economic nation-building, with its monetary system being a patchwork of external influences rather than an instrument of sovereign power.