Banking & Financial Institutions - Midterm Quiz 3

An artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea through the Isthmus of Suez; and dividing Africa and Asia.

Charitable foundations for the support of hospitals, convents, missions, and schools, as well as chaplaincies, which were established during the colonial period and continued through the first part of the nineteenth century.

Galleon Trade became the forerunner of the banking institutions in the Philippines.

• True

• False

His program was to transform the country into a self-sufficient economy and to make it financially independent from Mexico.

He abolished the monopoly of the Galleon Trade and the privileges of the Royal Company of the Philippines.

The first Filipino bank.

It was called Banco Espanol-Filipino de Isabela II.

The first savings bank.

It was then called the big bank for the small people.

In 1929, the Bureau of Treasury took over the supervision of banks.

• True

• False