10 Interesting Fact About The history of money and banking
10 Interesting Fact About The history of money and banking
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Money was first discovered by the Sumerians around 3000 BC.
In ancient Egypt, the salaries of workers are paid in the form of wheat.
Paper money was first introduced in China in the 7th century.
The term bank comes from the Italian Banca which means a table.
The oldest bank in the world that is still operating today is Monte Dei Paschi in Siena, Italy, was founded in 1472.
Bank of England is the oldest central bank in the world, founded in 1694.
The first coin was discovered on the tongue of a shell in the 8th century BC in the Lydia region, Asia Minor (now Turkey).
Modern banking system was first introduced in Italy in the 14th century.
The famous Italian banker, Medici, is one of the richest families in history because it succeeded in controlling trade and banking in Europe in the 15th century.
Initially, credit cards were only accepted at luxury hotels and restaurants, but now credit cards have become commonly used payment tools worldwide.
