There are several documents suggesting the name of the bazaar was first "New Bazaar". The building was endowed to the foundation of the New Mosque, and got its name "Egyptian Bazaar" (Turkish: Mısır Çarşısı) because it was built with the revenues from the Ottoman eyalet of Egypt in 1660. The word mısır has a double meaning in Turkish: "Egypt" and "maize". This is why sometimes the name is wrongly translated as "Corn Bazaar". The bazaar was (and still is) the center for spice trade in Istanbul, but in the last years more and more shops of other type are replacing the spice shops.