THE BRIEF HISTORY OF BANK

 Earliest Banking Systems (8000 BC)

  It was more record keeping of trades that

were being made.
 People making trades and record their trades
down in a log.

 Earliest “Proper” Banks (4000 BC)

 The first proper banks would have sprung up in

ancient Mesopotamia.
 A year that there were temples and palaces and
other cities that provide lending activities and banks
lend out seeds for farmers for them to have occupation
and pay seed loan when harvest time comes.

 Banks During The Medieval Period (12th - 13th CE)

 Banks started to come into their own during this
period like Merchant Bank that is about crop loan
and financing expedition, and brokering took place
in this banks.
 Bankruptcy (‘banca rotta’) started to emerge in this
time when a trade failed to deliver on their promised
route and declare banca rotta.

 Modern Banking In The 17th to 19th Centuries

 Biggest change to the world of banking happen in this period
particularly in London were bank works bill be based with these
banking concepts;issuing bank debt, allowing
deposits to be made into banks etc.
 Goldsmiths of London the first proper bank that
was more of a series of vaults and people can
deposit their precious things and they would be
able to collect them and charged a fee for their
services.
 Bank of England was the first bank that offer
banknotes or promissory notes, you will deposit
cash into the bank and be offered a note to say
that it was there and offer cheques, overdrafts,
and traditional banking services that plays a big
role in Industrial Revolution in the United Kingdom.
 Rothschilds (19th CE)

 International financing took hold due to the

Rothschilds in this period and Rothschilds
started loaning money to the bank of England
and puchased stocks.

 20th Century

 It was not until the 20th century that banks

began to appear in the way we correctly
understood. After World War II, banks
began to lend to the entire country, and
retail banks began to become the "things"
they should have. In fact, most of the
technologies developed throughout the 20th
century are still in use today, such as ATM
and SWIFT payment systems.

 “ Bank is a financial intermediary institution which deals in loans and

advances”--- Cairn Cross.

Walter Leaf defined the bank, “A bank is a person or corporation which holds
itself out to receive from the public, deposits payable on demand by cheque”.

Professor Kinley defined bank as, “A bank is an establishment where

individuals makes advances of money as may be required and safely made,
and to which individuals entrust money when not required by them for use”.

UNFAMILIAR WORDS
-BROKERING