WORLD HISTORY

Detailed explanation-1: -The Knights Templar set up a prosperous network of banks and gained enormous financial influence. Their banking system allowed religious pilgrims to deposit assets in their home countries and withdraw funds in the Holy Land .

Detailed explanation-2: -The Order Of The Poor Knights Of The Temple Of Solomon (aka The Templars) were founded in Jerusalem in 1119 to protect pilgrims travelling around Christian sites of worship in the years after the armies of the first crusade had seized the holy land from Muslim rule.

Detailed explanation-3: -While the wealth of the Templars was ordered to be transferred to the Knights Hospitaller, King Phillip held onto a majority of the lands in France until 1818. In England, the lands were divided up amongst the crown and nobility until 1338.

Detailed explanation-4: -By 1150, the Order’s original mission of guarding pilgrims had changed into a mission of guarding their valuables through an innovative way of issuing letters of credit, an early precursor of modern banking. Pilgrims would visit a Templar house in their home country, depositing their deeds and valuables.

Detailed explanation-5: -In 1119-20, when the King of Jerusalem officially tasked the Templars with defending the city and protecting Christian pilgrims who came there, he granted them quarters in the al-Aqsa mosque, then his palace. It would go on to become the first Templar headquarters in the Holy Land.