User:Muhammad zeba

Introductory Evolution of banking it has not so far been decided as to how the world bank originated.some others open-in this word is derived from the words. ,Basque, which means a bench.The explanation of the origin is attributed to the facts that the Jews in Lombardy transacted the business of money exchange in the market -place'and when the business failed.The, Bancus , was destroyed by the people. incidentally the word ,bankrupt,is said to have been evolved from this practice .the opponents of this opinion argue that it is was so, then how is it that the Italian money-changers where never called ,Balanchine,in the middle ages? Other authorities hold the opinion that the word ,Bank is derived from the German word ,bank, which means ,joint stock, fund,.later on,when the German occupied major part of Italy, the word ,bank,was italicized into ;bank: It is therefore,not possible to decide as to which of the opinion;is correct, for no record is available to ascertain the validity of any of the opinions. Banking is fact is as primitive as human society,for ever since man came to realize the important of money as a median of exchange ,the necessity of a controlling or regulating or regulating agency or institution was natural felt. Perhaps it were the Sumerians who carried on some such activities around 3400BC which are considered as ,Banking, activities. Later on the Babylonians further enlarged these activities .The scripts dating back to 20 century, discovers in Babylonian area,confirmed that Babylon made great advancement in the area of credit, specially in agriculture credits.it is evident that the temple of Babylon were used as Banks, because of the prevalent respect and confidence in the clergy. King Hammurabi (1728-1686 B.C) the foundered of the Babylon Empire ,Draw up a code Wherein he laid down standard rules of procedure for banking operation by temple and great land-owners.He got Inscribed on blocks of cordite about 8 feet tall, containing about 150 paragraphs which deals with nearly all aspects of deposit,and loan,interest pledge,guarantees,natural accident,lose theft etc.