12 Questions
The banking system and early banking practices originated in the temples of Babylon around 2,000 B.C.
True
The Fugger Family were known as the greatest moneylenders of the 15th century.
False
Banko Enpaño-Filipino is currently known as Bank of the Philippines Islands.
True
The Chartered Bank of India, Australia, and China established branches in the Philippines in 1873.
True
The opening of the Suez Canal had no impact on the accessibility of European Markets.
False
The General Banking Act provided the rules of conduct for banking institutions regarding organization, management, and operation.
True
By the end of the Spanish Regime, there were five banks in operation in the Philippines.
False
The first private bank with genuine Filipino capital opened in 1916.
False
The Manila Clearing House was established in 1930 by a combination of domestic and international banks.
False
During the Japanese Era, both Filipino and Japanese-owned banks were permitted to operate.
False
Executive Order 96 invalidated all Japanese occupation deposits.
True
Republic Act No. 7653 governs Philippine Banking Today, focusing on establishing an independent monetary authority.
True
Explore the historical perspective of the banking system worldwide, tracing back to transactions in Babylon in 2,000 B.C. up to the practices in the 2nd Century A.D., including the role of public notaries and notable families like the Fugger Family.
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