Customer Perceptions of the Banking System Through Customer Relationship Management in Pakistan

Earliest Banks

According to historical data, the first banks in the ancient world were most likely religious temples. They were most likely founded in the third millennium B.C. Scholars have also claimed that these banks foresaw the development of money (Gilbart, 1919; Millet, 2002). Grain was first placed, but other products such as animals and agricultural machinery were added later. Valuable metals such as gold on compressed plates (i.e., simple to transport) and precious stones were eventually placed (Liverani, 2013). Temples and palaces were the safest places to keep money and other valuables since they were well-maintained and well-constructed as holy sites (Schmandt-Besserat, 1992). Additional records of loans were given by temple priests to merchants in Babylon in the 18th century B.C. Financial had progressed that rules controlling banking operations and processes could be justified by Hammurabi's Code, written around 1754 BC (Prince, 1904).