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This Asian bank lets you borrow cash and pay in trash

by Futures Centre, Nov 7
1 minute read

Singapore has #CashforTrash, Makassar has Trash as Cash

““The program originated from the people, it is managed by the people, and the rewards are for the people,” said bank manager Suryana, who wears a black jilbab headscarf and lives with her family above the Mutiara Trash Bank in the fast-growing city of Makassar on the island of Sulawesi. “From an economic point of view, this gets results.”

It’s an idea that’s about as far as can be from the technological developments disrupting banking elsewhere. Not just neighborhoods in Indonesia, but elsewhere across emerging Asia and Africa, locales are embracing “trash banking” as a way of reducing pressure on ever-growing landfill sites and allowing some of their poorest citizens access to savings and credit.”

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