Bopexecutive Summary Banking History the First Banks Were Probably the Religious Temples of the Ancient World, and Were Probably Established in the Third Millennium B.C. Banks Probably Predated the Invention of Money.
BOP http://www.scribd.com/doc/13314549/Internship-Report-of-Nhttp://www.scribd.com/doc/13314549/Internship-Report-of-NBPBPhttp://www.scribd.com/doc/13314549/Internship-Report-oExecutive Summary
BANKING HISTORY
The first banks were probably the religious temples of the ancient world, and were probably established in the third millennium B.C. Banks probably predated the invention of money. Deposits initially consisted of grain and later other goods including cattle, agricultural implements, and eventually precious metals such as gold, in the form of easy-to-carry compressed plates. Temples and palaces were the safest places to store gold as they were constantly attended and well built. As sacred places, temples presented an extra deterrent to would-be thieves. There are extant records of loans from the 18th century BC in Babylon that were made by temple priests/monks to merchants. Banking in fact is as primitive as human society, for ever since man come to realize. The importance of money as a median of exchange. The necessity of a controlling or regulating agency or institution was naturally felt. Origin of banking in the world as priests “Trusted to take case of
Valuable” Particularly goods and services.
In Britain 7th century Gold Smith flourished not only as person who could be trusted to
keep deposit of Gold and silver for safe keeping. In 1844 Bank Charter act promulgated
by the Govt. by which all private bank were merged into Joint Stock companies. Due to
the veracity of resources of money bank have been placed in various categories such as:
•Central Bank
•Investment Bank
•Mortagage Bank
•Commercial Bank
•Merchant Bank
INTRODUCTION
The Bank of Punjab was established on 16 November, 1989 under. The Bank of Punjab act 1989. the first Branch which opened was the Main Branch Lahore. In 1989 BOP was mended as a non – scheduled bank on in the province of Punjab. In beginning the main deposits were the
BANKING HISTORY
The first banks were probably the religious temples of the ancient world, and were probably established in the third millennium B.C. Banks probably predated the invention of money. Deposits initially consisted of grain and later other goods including cattle, agricultural implements, and eventually precious metals such as gold, in the form of easy-to-carry compressed plates. Temples and palaces were the safest places to store gold as they were constantly attended and well built. As sacred places, temples presented an extra deterrent to would-be thieves. There are extant records of loans from the 18th century BC in Babylon that were made by temple priests/monks to merchants. Banking in fact is as primitive as human society, for ever since man come to realize. The importance of money as a median of exchange. The necessity of a controlling or regulating agency or institution was naturally felt. Origin of banking in the world as priests “Trusted to take case of
Valuable” Particularly goods and services.
In Britain 7th century Gold Smith flourished not only as person who could be trusted to
keep deposit of Gold and silver for safe keeping. In 1844 Bank Charter act promulgated
by the Govt. by which all private bank were merged into Joint Stock companies. Due to
the veracity of resources of money bank have been placed in various categories such as:
•Central Bank
•Investment Bank
•Mortagage Bank
•Commercial Bank
•Merchant Bank
INTRODUCTION
The Bank of Punjab was established on 16 November, 1989 under. The Bank of Punjab act 1989. the first Branch which opened was the Main Branch Lahore. In 1989 BOP was mended as a non – scheduled bank on in the province of Punjab. In beginning the main deposits were the