What Was the Role of the Templars in the Development of Modern Banking?

The Knights Templar, a medieval Christian military order founded in the aftermath of the First Crusade in 1119, played a crucial role in the development of early banking systems. As they amassed wealth and land across Europe and the Holy Land, the Templars established a network of castles and churches that served as both military strongholds and financial institutions. They created a form of "banking" by allowing pilgrims and traders to deposit their valuables in one location and withdraw them in another, effectively pioneering the concept of a check or letter of credit. This innovation not only facilitated trade across Europe but also set the stage for the modern banking system, demonstrating how a military organization inadvertently became a cornerstone of financial infrastructure.