Show dutch banking traced to thirteenth century the netherlands has been called the birthplace or of progressive banking obscure records tell bt bf dutch mortgage banking and money changing operations ns as early as the thirteenth ceri cen fury ury the lie netherlands laks fir first I 1 ge great I 1 bank the amsterdam exchange bank WIssel bank was established in IWO this institution was one of the first large banks in europe says united states commerce reports having been cen founded 85 years before the bank of england As its name implies the WIssel banK wat wa engaged primarily in III exchanging moneys although it also was wai permitted to function as a general cashier for merchants it could accept deponta depo dep oita inq and pay bills but was not lill allowed owed to lend its deposits instead the depositor usually paid one eighth of 1 per cent to the bank for the safekeeping of his funds the exchange bank system having baying outlived its usefulness joint stock companies first appeared its as early as aa tile the bank of the netherlands one of the oldest central banks of the world was estaba hed in 1811 1814 the enormous financing required during the dutch colonial expansion necessitated an international banking ture lure and explains the modern and efficient banking structure of the netherlands |