Modern banking systems as we understand them today only emerged in the 14th century. Find more about this.Humans have long engaged in borrowing and lending. Indeed, there is evidence that these activities took place as long as 5000 years ago at the very dawn of civilisation. Nevertheless, modern banking systems only emerged within the 14th century.
Examining transformations in the banking system in history
As trade grew on a large scale, particularly at the international level, finance institutions became essential to finance voyages.Humans have long engaged in borrowing and financing. Certainly, there is certainly evidence that these tasks occurred as long as 5000 years ago at the very dawn of civilisation. But, modern banking systems just emerged w