context: The world's first central banks were established in 1609 in the city of Amsterdam, where the Netherlands was at that time one of the most powerful countries in the field of overseas trade. The central bank is legally an independent institution that does not belong to the government, although there is a close relationship between its work and the work of the government as an executive authority, but its dependence on the government can lead to its adoption of monetary policies to help the government solve some urgent economic problems at the expense of monetary balance linked to the interests of citizens And the value of their money and savings, which sometimes constitutes causes of conflict between governments and central banks on some matters. The basic principle is that the central bank is one of the state institutions that are not subject to temporary governmental directions unless they are based on a legislative and legal basis from the authority Legislative. With regard to the banking sector, the Central Bank monitors the banks ’business and ensures that it lends and invests the funds available to it in a manner that does not harm the depositors’ money and within the policies that follow the precautionary and precautionary measures. The central bank is the one that issues bank licenses and can withdraw these licenses or impose penalties on violating banks.
question: When was the first central bank in the world established?
answers.text: 1609