Palmas Bank (Fortaleza – Brasil)

The Palmas Bank was founded in 1998 in the Conjunto Palmeiras (50.000 inhabitants), a Fortaleza slum, in the Brazilian nordeste. It is the combination of a complementary currency (today accepted by the 97% of shops and supermarkets in the Conjunto) and a social bank (whose activity is focussed on productive microcredit). They were the pioneers in the […]