I’m interested in economics since I think finance is the first reason of gradual impoverishment of mankind and environmental destruction.

The spirit that moves me is the same that moves a shipwrecked who’s searching for a saving ship. I think JAK banking system represents one of these possible saving ships.
My report about Swedish JAK Members Bank was broadcast on RAI Italian Public television in Spring 2008.
JAK model, original from Denmark, was imported in Sweden in 1965. Some years ago a new interest-free cooperative was created in Stuttgart, Germany
In September 2008 the cultural association JAK Italia was born, with the aim to spread the interest-free philosophy also in Italy.
My dream is that every country could found interest-free banks in order to create the culture of a new financial and monetary system.

If you wish to contact me write at info@giorgiosimonetti.net

Giorgio Simonetti


For a sustainable usury-free banking

Swedish JAK bank represents from 1965 a nonviolent movement that fights against the concept of interest applied on money. Its aim is to offer a sustainable and feasible alternative to traditional interest-based banking, reinventing savings and loans service.
This DVD is a report about JAK Membersbank, shot in Sweden in August 2007. It shows how JAK works, which kind of financial tools it offers to members and associations, what’s the spirit that makes nearly 550 volunteers offering their time to spread the JAK idea.

Duration (including extras): 2 hours
Format: PAL / NTSC (all regions)

It also contains extra video with the complete interview to:

  • Margrit Kennedy (economist)
  • Oscar Kjellberg (JAK Development Director)
  • Per Almgren (JAK Pioneer)
  • Johan Oppmark (JAK CEO)
  • Magnus Frank (JAK Bank Manager)
  • Kåre Olsson (Skattungbyn Support Saving)
  • Ann-Marie Svensson (JAK Members Director)
  • Leonardo Becchetti (Banca Etica Ethics Committee)
  • Shaji K.J. Kizhakethil (Pakkam village, India)
  • Abd al-Haqq Kielan (Eskilstuna’s Imam).

RESOURCES – Further information

In August 2007 I spent 1 month in Sweden to study how JAK interest-free bank works. During my staying I shot 21 hours of video with the aim of telling the dream of an economy that is intended as sustainable service to people, paying attention to weakest and against the idea of taking money from interest.

  1. JAK system works as a common pool in which 36.000 members loan their money each others
  2. According with interest-free financial principles, loans and savings are interest-free. Loan fees are applied to cover administration and risk costs
  3. Effective interest rate (loan fee) is 2,5% on average (fixed interest)
  4. Every member is allowed only to have 1 share of the bank, whose aim is not to get any profit out of its activity. The common advantage is to have a feasible, sustainable loan service for every member, paying particular attention to local economy.
  5. Only resident in Sweden are allowed to ask for a loan with JAK.


Sito ufficiale JAK Bank Svedese

Associazione culturale JAK Italia

Circolo di Mutuo Risparmio tedesco

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Margrit Kennedy


Arianna editrice

JAK Banca Cooperativa

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