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The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried goods between cities. This was around 2000 BCE in Assyria, India and Sumer.
24 mar 2023 · A brief history of banking from ancient Greece, Rome, and Egypt to the modern-day United States and the emergence of digital banking.
2 dni temu · Bank, an institution that deals in money and its substitutes and provides other money-related services. It derives a profit from the difference between the costs of attracting and servicing deposits and the income it receives through interest charged to borrowers.
19 maj 2016 · Historical reflection on the recent financial crises and the long-term development of the financial system go hand in hand. This volume provides the material for such a reflection by presenting the state of the art in banking and financial history.
Modern banking as we know it today had its roots in the laissez-faire philosophy of British economist Adam Smith, who advocated for a much more free market approach to banking, being ruled more by the “invisible hand” of market forces.
Perhaps the biggest changes to the world of banking came in the 17th to 19th centuries, particularly in London. In fact, the way in which banks work will be based completely around these banking concepts, i.e. issuing bank debt, allowing deposits to be made into banks etc.
‘Origins and function of banking’ begins with a short history of banking before outlining the structure of a bank’s balance sheet and income statement. It goes on to describe the different types of bank and banking services provided by retail, corporate, and investment banks.
