Ahmad Fanākatī (1220? - 1282) was a Muslim financial minister of Kublai Khan's Yuan Dynasty. He came from Fanakat (Banakat), a town on the upper Syr Darya in Central Asia. Trusted by Chabui Khatun, Kublai's favorite wife, he was entrusted with state finances in 1262. He was successful in managing the financial affairs of Northern China and brought huge tax revenues to Kublai's new government. In 1270 he assumed the full power of the new financial department named Shangshusheng (Chinese: 尚書省, "Department of State Affairs"), which had equal status with the administrative department named Zhongshusheng (Chinese: 中書省, "Central Secretariat"). After the conquest of the Song Dynasty in 1276, he entered the financial matters of Southern China. He prepared a state monopoly in salt, which came to account for a large portion of state income. In his 20-year term of office, he created his strong faction with his clan and Muslims from Central Asia. Ahmad's tax system gained a bad reputation from the Chinese because it was ruthlessly operated and considerably differed from traditional Chinese systems. In 1271 the new financial department (Shangshusheng) was absorbed into Zhongshusheng.
|Date of death|
|April 10th, 1282|