Oscar Kjellberg is the former CEO and current strategic manager of J.A.K. Members Bank in Sweden, an interest-free, member-owned savings and loan. In this interview with Andi Hazelwood of Global Public Media, Kjellberg talks about the history of J.A.K Members bank, explains the J.A.K. banking model and illustrates how the conventional interest-based system, with it's growth imperative, is unsustainable. Kjellberg also discusses how the J.A.K. model differs from the interest-free Islamic banking system, and how the current mortgage and currency crisis in the US is a result of interest-based financing.
Additional Resources:
J.A.K. Members Bank website
A detailed 2003 assessment of J.A.K. Members Bank by Anielski Management (PDF)
How interest-free banking works: the case of JAK an article at feasta.org
J.A.K. Members Bank on Wikipedia
