Page 28 - Banking Finance May 2022

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country. The Swiss Ministry of Health has created a time- are in the present moment, not where we hope they will
bank concept to assist senior citizens in the country. be at some future point.

Under this Time Bank one side new generation persons will Who can use Time banking?
secure themselves for getting old by investing their time in Y Anyone can use this Time bank
serving old people. As by giving service they will get a card
as like credit card that can be used when they will become Y It includes individuals, groups, organizations,
old. By doing, so the inclination towards helping others will government agencies, churches, businesses.
grow. This will strengthen the society as well as country in Y It also includes any organization that is helped by
a long way. In nutshell the concept of Time Bank is boon volunteers. Volunteers can earn time credits for the help
for all citizens. they provide. They receive one credit for each hour of
service.
The Five Core Values of Time Banking:
But it is important to remember that in time banking, both
Edgar Cahn is the founder of modern timebanking. He
noticed that successful timebanks almost always work with receiving and giving have equal weight. Here People cannot
give till others will not receive .Both are bound up together
some specific core values in place. In his book No More
and mutual value is found through both.
Throw-Away People, he listed four values. Later, he added
a fifth. These have come to be widely shared as the five core
You can take up Time banking in two ways. Either join a
values of time banking - and most timebanks strive to follow
Timebank that has already been created and start giving
them. They are a strong starting point for successful time
and receiving services with other members or form a team
banking.
to create a new Timebank and invite people to join.
Asset: Every one of us has something valuable to share with
someone else. What Can Time banking do?
Currently, the most common model of Time banking focuses
Redefining Work: There are some forms of work where on neighbors-helping. In this way they help the most
remuneration cannot be in the form of money like building vulnerable person and to build a strong sense of community.
strong families, revitalizing neighborhoods, making But in some places, people and organizations are
democracy work, advancing social justice. Time credits were approaching Time banking as an opportunity to design
designed to reward, recognize and honor that work. targeted uses of Time banking to achieve specific goals.

Reciprocity: It helps that works as a two-way street and
empowers everyone involved .The question: "How can I help
you?" needs to change so we ask: "Will you help someone
too?"By doing this we ensure that, we help each other and
build the world of togetherness were we all will live in.

Social Networks: By helping each other we increase
support, strength & trust of communities The Community is
built by sinking roots, building trust, creating networks.
Through this Time banking, we can strengthen and support
these activities.

Respect: It underlies freedom of speech, freedom of
religion, and everything we value. It also supplies the heart
and soul of democracy. We strive to respect where people

28 | 2022 | MAY | BANKING FINANCE