Oscar Kjellberg - Strategic development JAK Members Bank

Oscar Kjellberg, CEO of JAK members' bank from 1993 – 2004.

Present strategic manager of JAK

JAK is a Swedish interest-free bank.

J-A-K stands for Land, Labour and Capital.

Oscar is an economist with a background in agriculture. During his time as CEO of JAK he managed the transition from an interest-free savings and loan, non-profit association to a co-operative and then finally into a fully fledged co-operative members' bank.

Oscar’s current role is to manage the member based strategic development for JAK. Ideas have been developed of equity based savings and financing as an important complement to other services during the last years.

JAK has a 40-year history of interest-free savings and lending. The main goal is the mental and economic liberation of its members and a fair, eco-sustainable economy. At present the only interest-free savings and loan banks are in Denmark and Sweden but the idea is spreading worldwide with developments in India, Germany, New Zealand and other places. The underpinning premise for the creation of the JAK Bank was that debt-based money and interest is both unfair and the foundation of unsustainable economic growth.

Find out more about JAK bank from http://www.jak.se/

View across Stockholm Harbour from Oscar's tug boat.