The Ottoman Bank: State Bank of the Empire (Nineteenth and Twentieth Centuries)

Mehmet Baha Karan (), Wim Westerman () and Jacob Wijngaard ()
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Mehmet Baha Karan: Hacettepe University
Wim Westerman: University of Groningen
Jacob Wijngaard: University of Groningen

Chapter Chapter 8 in A History of Banks, 2024, pp 233-268 from Springer

Abstract: Abstract In being originally a semi-colonial bank with much British and French capital, the Ottoman Bank brought western banking to a region that was still much in the Middle Ages. It acted as a central bank, financed state debt but also economic modernisation and weathered political crises, e.g., when Turkey did away with the Ottoman sultans—becoming a republic in the 1920s. Interestingly, politicians such as the well-equipped Minister Cavid Bey had a big say in the Bank’s hey days, but the Bank remained fairly independent throughout until a merger in 2001.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-031-62297-7_8

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DOI: 10.1007/978-3-031-62297-7_8

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