Carlos Hank Rhon, History of Banking Systems in Different Parts of the World  Part 1

The first recorded banking transaction was said to have occurred many centuries ago, somewhere in the area where the empire of Assyrian was established in the form of barter method between ancient Peoples. Usually the assets that are accepted are those that have great value such as stones. This kind of exchange among traders was incorporated in the idea of banking system. The history of banking systems can be traced back as early as 12,000 years ago. In this era, it was said that the banking system already existed faultlessly. The first pieces of evidence in the existence of banking system were first uncovered in 1890 by Dr. Heilpretch, an Archaeology Professor of the University of Pennsylvania in the ruins near the city where the site of ancient Napur is located. The records show the financial statements of the clan of Engadi - the family who first built the banking system that ruled and facilitated the business and investment of the Assyrian Empire. The proof also established the connection of the family to the throne. Carlos Hank Rhon knows a lot about the history of banking.

The history of banking systems showed that just the mere mention of the word Asiatic House of Sassoon which was the core centre of financial transactions is enough to make the people to believe its truthfulness and efficiency even in the farthest side of the globe. History shows that the family of Engadi was the ancestor of the banking systems that are being used at the moment. Through the history of banking systems, there were so many empires and civilizations that have folded to the increase and plunge of the valuable metals and other stuff that were being used in banking. This process is inevitable and therefore the banking institutions should also be flexible in order for it to cope very effectively on the changes that the fluctuations of money create. Carlos Hank Rhon suggests that you read part 2 of this article.