Trade

The Imperial Ottoman Bank is one of the most fascinating banking institutions of the modern era. Foreign yet at the same time Ottoman, private yet holding the privileges and duties of a state bank, its complex history is intimately linked to that of the Ottoman Empire, but also to that of the Turkish Republic after the collapse of the empire.

In the 17th and 18th centuries, Le Parfait négociant de Savary, republished eight times between 1669 and 1775, was the reference work when it came to trade practices, especially concerning bills of exchange which, since the Middle Ages, had made it possible to transfer funds throughout Europe. For each financial centre, the book specified the ways to calculate exchanges and commissions on bills of exchange.

After the establishment of permanent diplomatic relations between the Ottoman Empire and France, “Capitulations” acted as an essential element in France’s commercial and diplomatic policy in the Mediterranean.

The royal Ordonnance of 3rd May 1781 stood as the conclusion of the legislative and reglementary project undertaken by Colbert and aimed at governing trade with the Levant and Barbary, as well as the functioning of consulates.