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History Main article: History of blaspheme buildinging Banks date back to antediluvian times. During the 3rd deoxycytidine monophosphate AD, banks in Persia and otherwise territories in the Persian Sassanid Empire issued letters of credit know as ?akks. Moslem traders are known to have used the cheque or ?akk system since the time of Harun al-Rashid (9th century) of the Abbasid Caliphate. In the 9th century, a Muslim businessman could cash an primordial form of the cheque in mainland China drawn on sources in Baghdad,[2][verification needed] a tradition that was significantly strengthened in the 13th and 14th centuries, during the Mongol Empire.[citation needed] Fragments rear in the Cairo Geniza indicate that in the 12th century cheques remarkably similar to our own were in use, only smaller to save costs on the paper. They contain a integrality to be paid and then the order May so and so pay the bearer such and such an inwardness. The date and name of the issuer are also apparent. The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy.[3] Banking in the modern-day sense of the word can be traced to medieval and early Renaissance Italy, to the rich cities in the north like Florence, Venice and Genoa. The Bardi and Peruzzi families reign banking in 14th century Florence, establishing branches in many other parts of Europe.

[4] Perhaps the most famous Italian bank was the Medici bank, set up by Giovanni Medici in 1397.[5] [edit] Origin of the word [pic] [pic] smooth drachm coin from Trapezus, 4th century BC The word bank was borrowed in Middle English from Middle French banque, from aged(prenominal) Italian banca, from Old High German banc, bank bench, sound reflection. Benches were used as desks or exchange counters during the Renaissance by Florentine bankers, who used to make their transactions atop desks cover by green tablecloths.[6] The earliest evidence of money-changing activity is represent on a silver drachm coin from antediluvian patriarch Hellenic colony Trapezus on the Black... If you want to get a full essay, order it on our website: Orderessay

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