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The Bank with No Money - Chile's Banco del Tiempo
Banks throughout South America have responded to the global financial crisis by granting fewer loans. In Chile, however, there is a new bank that is immune to any credit crunch.
Banco del Tiempo is a "time bank" that works on the basis of account holders earning credit for hours worked; essentially, this means they exchange services such as ironing, interior decorating, sewing and babysitting.
The bank, set up by the non-profit organisation Civica, opened its first branch a year ago, and now there are already five.
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