histroy_of_banking.doc

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Babylon temple safe-keeping. Babylon Hammurabi, 18th century BC, loans priests of the temple.

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Babylon temple safe-keeping. Babylon Hammurabi, 18th century BC, loans priests of the temple.Greece Private entrepreneurs, temples public bodies, financial transactions. deposits, loans, change currency to another ,book transactions. Greek city Rome inherited the spirit of capitalism, being in debtadministration, adopts and regularizes banking practices of Greece. public notaries to register transactions. 325 BC,collapse of trade bankers less necessary ,the hostility of the Christian church to the charging of interest. Usury comes morally offensive. The Roman empire - formalized the administrative aspect of banking ,instituted greater regulation of financial institutions and financial practices. interest on loans ,interest on deposits. The development of Roman banks was limited, cash transactions. With the ascent of Christianity, banking became subject to additional restrictions, as the charging of interest was seen as immoral. After the fall of Rome, banking temporarily ended in Europe and was not revived until the time of the crusades.[citation needed]Judaism The Torah and later sections of the Hebrew Bible criticize interest-taking, but interpretations of the Biblical prohibition varyforbidden to charge interest on loans made to other Israelites, but allowed to charge interest on transactions with non-Israelites, Christianitycharging of interest known as usury banned by Christian churches - regulationBecause banks are the financial intermediaries of the e

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