Development of Banking in the Ottoman Empire during the 19th Century

In this study, the development of banking in the 19th century in Ottoman Empire was researched. In the Ottoman Empire, there has been no modern banking until the 19th century. However, there has always been a need for financing in every period, and this financing requirement has been met with its own institutions and methods, before the establishment of the banks in the Ottoman period. The study first includes the methods, institutions and applications that meet the need for financing, and then the formation of the conditions required for the establishment of the banks and the samples from the first banks established are explained and detailed explanations are given about them. Literature search method was used in the study. As a result, banking in the Ottoman Empire in the 19th century has emerged in the lead of the Galata bankers in order to meet the increasing need for external financing for a variety of reasons, and it has been turned into domestic banking over time