ŠVEDSKA J.A.K. BANKA - PRIMJER ALTERNATIVNOM PRISTUPU U BANKARSTVU
THE SWEDISH JAK BANK - AN EXAMPLE FOR AN ALTERNATIVE APPROACH IN BANKING

Summary/Abstract: This paper tries to analyse a unique bank in today's financial system. JAK members bank from Sweden rejects many theses accepted in today's banking theory. This bank does neither pay any interest on its deposits nor ask for interest for given loans, except the administrative fee for covering its transaction costs. JAK members bank is a cooperative, which does not strive to make profit, but has idealistic motives and propagates its vision and mission, above all, through education of its members and sympathisers. Thus, in this paper we want to present the manner in which this bank works and critically analyse the sustainability of this system. Furthermore, we want to compare this system with Islamic banking and analyse the possible implementation of this concept in Serbia.

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