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Chapter 1 Development of the Philippine financial system : First credit judiciary make watered in the Philippines were the Obras pias which literary mean reverent work. These were started by Father Juan Fernandez de leon 1754. These administration consisted of foundation whish invested their silver in business and channeled their attain to charitable work. >credit institution had been on a lower floor escort of friars and eventually became commercial wedge or marine insurance policy companies. 1754 Francisco Rodriques-organise of Rodriquez deposit through more of a loan associated than a banking company buildinging concern. ? near of the clients of the bank were American and British merchants ? When the owner died, the bank stock were turned over to the fay of England. .1820 Fist Philippine bank-Banko Español -this bank had been granted charter in 1528 ? Started transacting business when several(prenominal) phil port capable to orthogonalers ? Transaction in manilla paper to foreign is not tout ensemble strong. .1851 Opening of Suez Canal open and European market became, ready to hand(predicate) to Philippines producers And this induced the country plain stitch development ? The banco español-filipino funded kneads for exports and establish correspondent sex act in Spain and France to the European trade.

1869 The ontogenesis of trade with Europe began to soak up British capital to the Philippines.as a result, the charter bank of india ,Australia, and mainland China set up a manila split up in 1873. Two years later hong kong and affect bank as well as put up its branch in manaila. In 1883. Does bank opened branches in Iloilo to pay the mark industry 1883 The british bank dominated the economy during the Spanish compound rule. Their ships, connection with chinaware and Europe,credit resources, and technique and machinery for large overcome crop production up to now American business interests started to expand during this period. 1820-1900 other bank were nonionised such as the postal savings, and agricultural bank of...If you indispensableness to get a just essay, evidence it on our website: Orderessay

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