Beginning of the Early Banking Industry in Mesopotamia Civilization from 8th Century B.C.E

Abstract

The concept of banking for the first time started from the Mesopotamian civilization in 8th century B.C.E. This time economic activity was highly centralized about the royal houses and the priesthood. The temples and royal places were the important centers to which commodities were deposited and from which they were redistributed among the peoples. They were also the places where offered best security to guard the deposited wealth of the people, probably in the forms of crops and daily uses commodities as well as precious stones. So it was in the temples and royal places of Mesopotamia, that the earliest banking industry of the world developed and the notions of safeguarding of the deposits took place.