The inscriptions include:
On the top cartouche: Qur'an, sura al-saff (lxi), parts of v.13.
In the cartouche below: the basmala.
In the small cartouches round the main cartouche: nada 'Ali quatrain.
In the central cartouche in Persian (suggested partial reading):
" the 'alam is like a Sun, [One] of the devoted servants of king of the religion of Haydar (i.e. 'Ali) is Haydar"
Haydar must refer to the patron. A Haydar Bayg ishik aqasi bashi 'The grand master of ceremony' is reported by Muhammad Tahir Qazvini ('abbasnama, ed. By I. Dehgan, Arak, 1329, pp. 55-6) who was removed from his post of being in charge of the Holy Shrine [in Qom] (events between the years 1052-5/1642-56), and he chose to live in Qom.
If however the name is interpreted as Ibn Haydar, it would not be Haydar Bayg.
The lower cartouches:
On one side : A prayer and the date 'the year 1068/(1657-8)'.
On the other side : 'The work of Haji Arda Bili (sic.) 1068/(1657-8)'
An 'alam in the Tanavoli Collection (Allan, J and Gilmour, B: Persian Steel, The Tanavoli Collection, Oxford, 2002, no.E.4, p. 271) is signed as "The work of Haji Muhammad 'Ali Arda Bili", who is likely to be the same maker as the above. The similarity of the decoration of the two, particularly the interlaced arabesques which comprise the outer band, make this certain.