The Story Of First Banks Around The World

Banks definitely has way more influence on our life than anything else. Sometimes we might live longer without food rather than without permission to use our accounts in the banks. Being a bank worker is not that fun and brings lots of stress. After a hard-working day, you can always chill by playing real money casino online. We are going to share some interesting facts about first banks.

Ancient Times

The history of banking can be traced back to ancient times with the earliest forms of banking appearing in Mesopotamia, Egypt, and Babylon. The first recorded bank was established in the ninth century BC in Assyria, a civilization located in what is now northern Iraq. The bank was called the Temple of Esagila, and it was used to store and manage the wealth of the Assyrian Empire.

The ancient Greeks established the first commercial banks in the fifth century BC. These banks, known as agorot, were private enterprises that provided financial services such as the issuing of loans and the transfer of funds between individuals and businesses. The agorot also acted as money lenders and provided a safe place for individuals to store their wealth.

Middle Ages

In the Middle Ages, banking was largely conducted by private individuals, known as money lenders. Money lenders would lend money to individuals and businesses in exchange for a fee. This practice was particularly prevalent in Italy, where the Venetian Republic developed a sophisticated banking system that was the foundation of modern banking.

The first modern-style bank was established in 1472 in Venice. This bank, called the Banco di San Giorgio, was the first public bank and was established to provide the Venetian Republic with a secure place to store its wealth. The Banco di San Giorgio also provided a range of financial services, such as the exchange of money, the issuance of loans, and the transfer of funds.

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The First Internation Bank

The first international bank was established in 1609 in Amsterdam. This bank, called the Bank of Amsterdam, provided a range of financial services to merchants and traders from around the world. The Bank of Amsterdam was the first institution to facilitate international trade by providing a safe and secure way to transfer funds between countries.

In the 18th century, the development of modern banking really took off. In 1716, the Bank of England was established, marking the birth of the modern central banking system. This was soon followed by the establishment of other central banks in Europe and the United States, such as the Bank of France, the Bank of the United States, and the Bank of Scotland.

Banking has come a long way since its humble beginnings in ancient Mesopotamia. Today, banking is a global industry. Banks provide financial services to individuals and businesses all over the world. Thanks to the development of modern banking, we now have access to a range of financial products and services. It makes managing our money easier and more secure than ever before.