Azad Jammu & Kashmir University
Department of Business Administration
Faculty of Administrative Sciences
University of Azad Jammu & Kashmir
A Report submitted in partial Fulfillments of the Requirements
For The Degree Of
Bachelor In Business Administration
EVOLUTION OF BANKING
This history of banking is traced to as early as 2000 B.C. The priests in Greece
Used to keep money and valuables of the people in temples. The origin of banking is also
Traced to early goldsmiths. They used to keep strong safes for storing the money and
Valuables of the people. The goldsmiths used to issue receipts for the money and other
valuable assets deposited with them. These receipts could be used for settlement of
Transactions because people had confidence in the integrity and solvency of goldsmiths.
When it was found that these receipts were fully accepted in payment of debts; then the
receipts were drawn in such a way that it entitled any holder to claim the specified
amount of money from goldsmiths. A depositor who is to make the payments may now
get the money in cash from goldsmiths or pay over the receipt to the creditor. These
receipts were the earlier bank notes. The second stage in the development of banking thus
was the issue of bank notes.
BANKING IN PAKISTAN:
I observed during my internship was that I came to known the historical
background of Banking & Financial sector and its improvement and growth since the
formation of Pakistan.
At the time of partition there were only 631 bank branches in area which came
under Pakistani control. But due to blood shed and violence at large scale, most of the
branches were closed. At that time Bank of India was acting as cent al bank for both
countries and same currency notes…...