BUSINESS ADMINISTRATION AND MANAGEMENT

Business Administration and Management

Business Administration and Management

Note: Please find your questionnaire and your requirements under the heading of Appendix.

Financial Management Institution

History:

There are existing records of loans in Babylon during the eighteenth century A. C., made by temple priests to merchants. The bankers were trapezitas in ancient Greece. Trapeza was the table behind which were in the shops, sometimes for other types of business, but very often bank transactions. The major banks were still yet the great temples, where priests were fruitful receiving money on deposit in accordance with the loans granted to individuals and cities. Pythius of Lydia in Asia Minor, early V century a. C., was the first individual banker of which no records. Many of the bankers of the Greek city-states were foreign residents. About 371 a. C., Pasion, a slave, became the richest banker and most famous in Greece. (Santos, 1998)

Banks in Roman times did not work as modern. Most banking is carried out by individuals rather than institutions. During the first century, Muslim traders are known to have used the system Karimi check or Sakka from the time of the Abbasid Caliphate under Harun al-Rashid. In the ninth century a Muslim businessman could cash the check primitive form in China drawn on sources in Baghdad, [4], a tradition that significantly strengthened in the thirteenth and fourteenth centuries, during the Mongol Empire. Indeed, fragments found in the Geniza of Cairo indicate that in the twelfth century checks similar to ours were in use, only smaller to save costs on paper. Contain an amount to be paid, the order. The date and name of the issuer are also apparent. (Lawrence, 1996)

The first modern bank was founded in Genoa, Italy in 1406; its name was Banco di San Giorgio. The first banks appeared in the renaissance in cities like Venice, Pisa, Florence and Genoa.

The name "bank" derives from the Italian bank, "office" used during the Renaissance by Florentines bankers Jews who made their transactions on a table covered with a green tablecloth.

Family members or Fúcares Fugger of Augsburg, along with Welser was the banker to the kings of Charles I and Philip II of Spain. After the Siege of Antwerp, the financial center moved to Amsterdam to the Industrial Revolution. In 1609 the bank was founded there Wisselbank Amsterdamsche. Bank branches were located by trade centers, the largest of which were in the seventeenth century the ports of Amsterdam, London and Hamburg. Some people could participate in the lucrative East India trade by purchasing bills of credit from banks.

During the eighteenth and nineteenth centuries saw a massive growth in banking. Banks played a key role in the movement of gold and silver coins based on paper money, redeemable for their holdings. For overall economic stability and security for customers as it became necessary during the twentieth century the establishment of financial regulation in almost all countries, to establish minimum standards of banking and financial skills and avoid or face possible bankruptcy bank, especially during ...