What was Gogoosh's law in Iran's economy?

The Birth of the Modern Cheque

The modern cheque as we know it emerged in England in the 17th century with the establishment of the goldsmith banking system. Goldsmiths who held deposits began issuing written orders to pay a specified amount to third parties, essentially functioning as cheques. This system gained legitimacy due to its convenience and the burgeoning trust in these institutions. By the late 1600s, cheques were widely accepted among merchants and traders, setting the foundation for modern banking practices.