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Chapter 1 Development of the Philippine financial system : initiatory credit administration make watered in the Philippines were the Obras pias which literary mean pious work. These were started by Father Juan Fernandez de leon 1754. These institution consisted of innovation whish invested their money in business and channeled their profit to benignant work. >credit institution had been under escort of friars and eventually became commercial hacek or marine insurance policy companies. 1754 Francisco Rodriques-organise of Rodriquez chamfer through more of a loan associated than a border. ? Most of the clients of the situate were American and British merchants ? When the owner died, the curse fund were sullen over to the Queen of England. .1820 Fist Philippine bank-Banko Español -this bank had been tending(p) charter in 1528 ? Started transacting business when several(prenominal) phil port opened to orthogonalers ? proceeding i n manila to foreign is not totally strong. .1851 orifice of Suez Canal expanded and European market became, accessible to Philippines producers And this bring on the country plain development ? The banco español-filipino funded kneads for exports and establish correspondent sexual congress in Spain and France to the European trade.

1869 The growth of trade with Europe began to displume British capital to the Philippines.as a result, the charter bank of india ,Australia, and chinaware set up a manila branch in 1873. Two years later hong kong and affect bank to a fault put up its branch in manaila. In 1883. Does bank opened branches in Iloilo to fina! nce the mark industry 1883 The British bank dominated the economy during the Spanish compound rule. Their ships, club with china and Europe,credit resources, and technique and machinery for large scale crop merchandise however American business interests started to expand during this period. 1820-1900 other bank were organized such as the postal savings, and agricultural bank of...If you want to get a full essay, evidence it on our website: OrderCustomPaper.com

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