Banking in Pakistan Banking in Pakistan Banking in Pakistan first formally started in Pakistan during the period of British colonialism in the South Asia. After independence from British Raj in 1947, and the emergence of Pakistan as a country in the globe, the scope of banking in Pakistan has been increasing and expanding continuously. Pakistan's oldest bank is the State Bank of Pakistan, which is also the central bank of the nation. Before independence on August 14, 1947, the Reserve Bank of India was the central bank of what is now Pakistan. After independence, Muhammad Ali Jinnah took actions to establish a central
History of central banking in the United States History of central banking in the United States This history of central banking in the United States encompasses various bank regulations, from early "wildcat" practices through the present Federal Reserve System. Some Founding Fathers were strongly opposed to the formation of a central banking system; the fact that England tried to place the colonies under the monetary control of the Bank of England was seen by many as the "last straw" of oppression which led directly to the American Revolutionary War. Others were strongly in favor of a central bank. Robert Morris, as Superintendent of Finance, helped to open the