User:Devink/Sandbox1

The growing involvment of the Mutul with the international capital market was mediated by an early form of merchant banks. These grew out of merchant "administrative communities" (the "Nuk Nahob") that shifted their capital first from financing their own trade and inventories to acceptance credit and later branched out into various financial services in the Mutuleses markets.

Since the invention of the printing press, the Divine Throne slowly moved away from using commodities such as chocolate, copper, or jade for its exchanges, and adopted paper money but also developed bonds as a form of debt recognition to raise new capitals for the construction of new infrastructure, the modernisation of its military, and also new military campaigns both in Ochran and Norumbia. These bonds were sold in marketplaces by government officials, jointly traded with the shares of various enterprises and corporations, a practice introduced by the Nuk Nahob operating in Ochran who where always in dire need of new capitals. As a result, many markets in the Mutul turned into early stock exchanges, separated from other market places. The Blessed Printmaker House was the first institution that performed tasks similar to that of a modern central bank.