Merchant banks are considered as the original banking institutes that came into being during the Middle Ages. With the evolution of economic terms and practices, merchant banking services were differentiated from those of an ordinary bank. Today, merchant banks are regarded as the banks of corporate house and organizations.
Ordinary banks provide services to common people as well as organizations, but merchant banking serve a number of needs and requirements of organizations and businesses. The fact that merchant banks are the wholesale banks specifies the use of these banks for some important purposes.
It was hundreds of years ago that the Jews introduced the concept of merchant banking in Italy. The two important functions they would
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