Did you know that banks have existed since the Middle Ages? Here are their founders

The Knights Templar, in addition to their swords and shields, had another powerful weapon: the financial system. The Knights Templar were not just a religious order that made pilgrimages to the Middle East; they were also the first pioneers of banking during the “Medieval Era” in Europe. They created a sophisticated system for transferring money, eliminating the need to carry large sums of cash during their long journeys. Money could be deposited at a Templar branch, and the client would receive a letter of credit that held monetary value.

During a time of numerous wars, such as the “Medieval Era,” the Templars ensured the security of funds and played a unique role as contributors to kings and nobles. They supported the construction of churches, financed wars, and helped develop large-scale projects. The Templars managed and transferred vast wealth, particularly from managing the assets of European kings, and in return, they were granted significant economic and political privileges.

CREATED by:

“KORÇA BOOM”