12 Questions
Which historical period saw the development of the banking system starting in the temples of Babylon?
4th Century B.C.
What evidence of credit transactions was found in the ruins?
Clay tablets
Which family was known as the greatest moneylenders of the 16th century?
Fugger Family
What was the first bank in the Philippines that started its operation in 1851?
Banco Enpaño-Filipino
Which event led to the accessibility of European markets?
Opening of Suez Canal
By the end of the Spanish Regime, how many banks were in operation in the Philippines?
4 banks (3 commercial, 1 savings)
What was the primary objective explicitly stated in the New Central Bank Act of 1993?
Maintaining price stability
Which bank was the first private bank with genuine Filipino capital that opened in 1938?
Philippine Bank of Commerce
What was the purpose of creating the Postal Savings Bank in 1906?
To inculcate the habit of thrift
In which era were only Filipino and Japanese-owned banks given permission to operate?
Japanese Era
What did Executive Order 96 do regarding Japanese occupation deposits?
Invalidated all Japanese occupation deposits
What did the General Banking Act provide for all banking institutions?
Definitive rules of conduct
Explore the historical development of banks and banking practices worldwide, dating back to Babylon in 2,000 B.C. Discover how credit transactions evolved from clay tablets to public notaries. Learn about key historical figures like the Fugger Family.
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