Gedik

Definition of "Gedik"

A system introduced by Ottoman Sultan Mahmud (AD 1808–1839) in which the government issued a trade licence (known as gedik) for a fee allowing the holder to carry out certain trade or craft. The gediks were of two kinds: restricted and unrestricted. The restricted right created a monopoly such that no one else was to be given this gedik. The unrestricted right made it possible for others to obtain similar gediks afterwards in that trade or craft. But the trade itself could not be carried out without a gedik. The gedik could be sold but its transfer had to be registered with the government for a fee. It could also be inherited. The system of gedik was introduced by the Sultan to augment the income of the imperial ’awqaf which had gone into deficit over years because of inflation. The system of gedik fell into disrepute because of malpractice. It was abolished in 1861.