Finance World

Day 12: Early Banking Systems – Safeguarding and Lending

Introduction:

With the rise of money, early banking systems began to develop, providing safekeeping and lending services. Let’s explore the origins of banking and its role in facilitating investment.

History:

Banks emerged in ancient Mesopotamia, Greece, and Rome, initially offering safekeeping for valuables, and later expanding to lending. These early banks played a crucial role in economic growth by providing credit.

Key Points:

• Safekeeping: Early banks offered secure storage for money and valuables.
• Lending: Provided loans to individuals and businesses, fuelling economic activities.

Conclusion:
The development of early banking systems significantly contributed to economic growth by offering financial services that facilitated trade and investment.

Call to Action:
What do you think was the most important service provided by early banks? Share your opinion!

<<Previous Page______________________________________________Next Page>>