First Banks- During the Achaemenian period private banks were established.  The most famous was Bank of Egibi which carried on the business of pawn-brokers floating loans and accepting deposits.  Its capital was invested in house property, fields, cattle, and in the boats that carried the merchandise.  Current accounts were operated and checks were in use.  Bank of Murashshu and  Sons was founded later in Nippur.  It held leases, dug canals and sold water to the farmers, secured monopolies, such as brewing or fisheries which were farmed out at a profit.




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Senior Project : 2001-2002 The Great Persian Empire Website