THOUGHT FOR THE DAY

Kindness

"Money will buy a fine dog, but only kindness will make him wag his tail"
- Mc.Kenzie

TOPIC OF THE DAY

History of Cheque
During the first century A.D., banks in the Persia (Iran) and other territories in Persian empire under Sassanid dynasty issued letters of credit known as Sakks. They are considered the basis for the modern cheque.
The cheque had its origins in the ancient banking system, in which bankers would issue orders at the request of their customers, to pay money to identified payees. Such an order was referred to as a bill of exchange. The use of bills of exchange facilitated trade by eliminating the need for merchants to carry large quantities of currency (e.g. gold) to purchase goods and services. A draft is a bill of exchange which is payable on demand of the payee.
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