The history of banking

The term "bank" comes from the Italian word "banco", which meant the bench, bench or desk, for which the money-changers have provided their services. Since ancient times, the needs of society forced people to engage in brokering, which was expressed in mutual payments associated with the handling of coins of different weights and content of precious metals. Many sources that have survived to our times, you can find information about the Babylonian bankers, who took interest deposits and make loans under the written commitments and the security of different values. Historians have noted that in the VIII. BC Babylon Bank accepts deposits, paying interest on it, and even gave out loans issued bank notes. Stood activity Igibi banking house, which became a kind of Rothschild of ancient Babylon. Operations bankers Igibi were very diverse. This banking house produced on commission purchases, sales and payments from customers, taking cash deposits, extending credit to customers, that instead of getting interest right to the fruits of the harvest from the fields of the debtor; make loans under the bill, and bail. Banking House Igibi also acted as the guarantor of the deals. Babylonian ancestor of modern bankers refused to participate in friendly trading companies as investor financing. Finally, there is an indication of yet another feature, which was executed by bankers Igibi - the role of counselor and trustee in the preparation of various acts and transactions. Also, in Babylon were born and usury are exchange deal. Together with private bankers large cash transactions were carried out temples. They are mainly involved in storage reserve funds and treasures, and gave cities the long-term loans at low interest rates at that time. Tell about the city loan, issued by the Delian temple for five years at 10% per annum. In ancient times, when the predominant subsistence farmers were the most characteristic natural loans (for example, in Greece a loan under the land lease). In ancient Egypt, banking was run by the state. According to reliable reports, the ancient Egyptian banks in addition to fiscal function performs the following transactions: buy, sell and exchange coins and issuing loans, mortgage and pawn operations, accounting obligations before the due date, acceptance of deposits. In the papyrus contains information on the Egyptian bankers as advisors manage client estates and transfers. Category: Klasifikatsiya real estate | Tags: History