Knights Templar Banking
About Knights Templar Banking
The Knights Templar pioneered international banking during the Crusades. Pilgrims could deposit money at a Templar preceptory in Europe and receive a letter of credit to withdraw funds in the Holy Land. This eliminated the danger of carrying gold on the pilgrimage road. The Templars became the bankers of Europe, managing royal treasuries and international transfers. King Philip IV of France destroyed the order in 1307, partly to erase his own debts to them.
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