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Video: Jak Bank

 

The Jak Bank is a cooperative bank which believes it is unethical to lend money at interest. Since 1970, it runs an interest-free savings and loan system. In 2008, its members had saved up to 97 million euro’s and borrowed 86 million. Borrowers only pay an exit fee. The bank is owned by its members and has no profit motive. The bank grows at a rate of about 5 percent per year, entirely through word of mouth.

 

 

 

 

 

 

 

 

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