Zero Interest Bank
- Pre-Seed
A Bank works without Interest, The idea of the bank consists of three main Ideas subdivided to several secondary parts :- 1-Discount instead of the interest
The idea of the bank consists of three main Ideas subdivided to several secondary parts :- 1-Discount instead of the interest :- The bank get a partly ownership of a certain percentage of the production of the investor company, then issue a discount coupons of products & give it to depositors. for example: company (A) has production of goods (P) has borrowed from the bank the amount of 1000000 $ ,so, the company will give the bank the right to dispose of part of its production of goods which 10% of the production. 2-Money sharing round :- Every borrower pays amount of money to the bank & it collects them every month & one of the borrowers get the collected money in turn by rotation. for example , 10 people need 10000 each so everyone will pay 1000 monthly and gain 10*1000 = 100000 , customer (1) January , customer (2) February & so on & every one could have two turns like customer (1) take the first turn & the last turn , & so on , the more number of sharers increase , the more gain for everyone. 3-Relative Stability of value of money:- When someone puts money in the bank, the amount of the money is be evaluated according to fixed valuable matching metal like gold. For example.... someone had put 100000 USD in the bank, & the price of gold in grams at that time, 20 $.... Then the value set by the Bank 5000 grams ... and then the man comes after a period of time
Solves the problems of interests
The theory of The famous scientist Kenz said that the economy's up to the highest level when the interest rate is zero..
• Increasing investment. • strengthening the relationship between the depositors and investors and, • Giving the bank the function of marketing as well as funding, as many of the new projects need to marketing • Reduction of inflation • Elimination of the interest and the side effects upon the output • encourages the money to put their money in the bank. • encouraging the idea owners to achieve their projects • Development of social capital & reduce unemployment • The development of intellectual capital, • the economy's up to the highest level when the interest rate is zero
Recording the number of investors dealing with the Bank - Increasing investment
making each individual feel his role in the development and being main element & part of the production wheel. - strengthening the relationship between the depositors and investors
reverse it as it turnover the interest which is the cause of increasing prices and turn it into a discount that leads to lower commodity prices.. - Reduction of inflation
- Adult
- High-income economies
- Upper middle income economies (between $3976 and $12275 GNI)
- Lower middle income economies (between $1006 and $3975 GNI)
- Low-income economies (< $1005 GNI)
- Middle East and North Africa
- Digital systems (machine learning, control systems, big data)
It transfer the interest to Discount
It's very simple and people can use it
By dealing with the Bank
- 0 (Concept)
- Egypt, Arab Rep.
- 5+ years
- 18+ months
- 18+ months
- Financial Inclusion
- Income Generation
- Future of Work