روایتی بینکاری نظام کےارتقائی مراحل کا تحقیقی جائزہ


  • Arif Mahmood Mustafai Research scholar, Dept. of Qur'an O Sunnah, University of Karachi.
  • Muhammad Ahsan Uddin Assistant Professor, Department of Economics, University of Karachi.
  • Momin Fayyaz Shaikh Lecturer, Mohammad Ali Jinnah University, Karachi.


Banking, Wealth, Currency, Transactions, Precious metals


The concept of keeping wealth in a safe place dates to centuries. Ancient civilizations had diverse means of storing wealth in the form of crops, cattle, precious metals etc. The evolution of modern banking practice began with the introduction of receipts which were exchanged against precious metals and coins deposited to goldsmiths for safe keeping. Whenever the need for payments and transactions arose the holder of the receipts used to utilize the receipts as guarantee. The society used to honor these receipts as they carried the same weight as other precious metals. Receipts were swapped in place of precious metals and thus for all practical purposes paper was introduced as currency in the society. With the advent of currency notes the system of traditional banking came into being. Since then the banking system has gone through continuous change. The present banking system is geared up to meet the present and the future requirements of modern age. In the contemporary world money is now being steadily replaced by banknotes, cheques, pay orders, bank draft, ATM cards, debit cards, credit cards, e-banking.



How to Cite

Mustafai, A. M. ., Uddin, M. A., & Shaikh, M. F. (2018). RESEARCH STUDY ON THE EVOLUTION OF TRADITIONAL BANKING SYSTEM: روایتی بینکاری نظام کےارتقائی مراحل کا تحقیقی جائزہ. The International Research Journal of Usooluddin , 2(2), 47-60. Retrieved from