Banking of Pakistan

HISTORY OF BANKING: The word Bank is of a European root system and is derived from the Italian word BANCO, which means a table or a counter. In the opinion of the eminent scholars of banking, the reason why this word was given to the banking business was the so prevailing traditions of Lombardian bills changers. It was at the end of the middle ages when the trade and the business of stand in of funds was flourishing in the Northern cities of Italy and the money changers utilisation the wooden benches to carry out their business in the markets of purchase and selling of conglomerate currencies. It result be no use to involve the origin of the word BANK. It, however, found its focus through the passage of dissimilar conditions prevailing at various stages. Banking, however, did not become a coordinated and systematized business. It has evolved and developed fit in to the conditions and requirements ever since. A thorough study of field will reveal that modern banking is not very much divergent with its past, and therefore, it would, no doubt, be effective to have a world(a) comprehension of the methods which were practiced in this field in the quaint days.

What we would like to derive from the discussion and the historical review of the subject is to try to unveil certain aspects which may be useful while comparing the current banking business with the era of phylogenesis of banking. It is a difficult task to establish the first starting signal point of the banking business, but one thing is clear that the money as means of exchange at the beginning of unionized agriculture, industry and trade gave birth to the banking transaction first and then converted the scattered money transaction into an organized shape. The conditions unavoidable for the growth of the system are the development of civilization, its stability and the surround in which the confidence grows and trade flourishes. The first were the cultures of Sumerians and Babylonians under which the various activities were quite... If you want to get a full essay, order it on our website: Orderessay

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