Is the banking system invented by the Chinese or the Arabs?
I know the idea of bank check, first exist in China around the 5th century, the idea is for businessmen that is traveling through long distance, it is not practical to carry lots of gold, so, they can deposit the gold into the government bank, the bank give you a bank check and then when you got to another city, use that bank check to exchange for gold from the local government bank, but then people start using bank check as currency itself, which leads to the existence of paper money. But the concept of banks itself, is that an Arab system or a Chinese system?
The Assyrians and Babylonians started the first banks in around 2000 BC.
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