This article was written back in 2008, on Die Erdekruik / The Vessel blog. Since reading this article back in 2008 already, I have yet to hear any news on what’s happening with this venture? Does anyone know anything? Seeing as thought GOD birthed the blueprints for this unique bank you would imagine it would have been built already.
Anyone got an idea as to who these core group of believers are?
Christian bank is coming
Dennis Kotze – August 27, 2008
God has already birthed the blueprint for a unique bank based upon Christian principles in the hearts of a core group of believers in South Africa. And the proposed launch of this Christian bank – to be known as the Manna Bank – is expected to take place by mid 2009.
If successful, this South African initiative, born in this prophetic year of countrywide revival, can have far-reaching positive implications for the whole of Africa.
This dynamic development involves establishing a financial institution that is wholly owned by the Body of Christ and totally independent from the current financial institutions; a bank that will be 100% asset-backed and would not charge any interest on home loans or assets finance; and a professional institution conforming to international monetary law, with state-of-the-art smart card security. Added to this is a cash card system that will give a substantial saving when you are buying from a linked Christian trading association. This is all part of God’s plan to transfer the riches of the unjust to the hands of the just, a system that will effectively reverse the effect of inflation and provide streams in the desert.
The current financial system (FIAT system), which is owned by a few rich families, has become the standard for the world and Christians alike. The FIAT system is based on usury or interest and is not asset-backed.
The Bible clearly states in Prov 28:8: “He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.” The main people behind our current banking system understand this principle and have perfected it for their own gain. We can clearly see the effect of debt and rising interest rates on the poor and middle class, as they are month by month struggling to get free from the bondage of debt.
“…they shall be one in mine hand.” This scripture from Ez 37:19 is a prophetic statement that the Lord has spoken over South Africa and Africa, which is by far the most divided continent on the globe, with a myriad of cultures and religions.
This diversity has caused many wars, while also fuelling racial hatred, famine, family divisions and poverty. The financial loss to the continent and individuals caused by all of this cannot even be calculated.
By looking at the above prophetic statement from a human perspective, it would seem impossible even for God to bring healing and unity to Africa. But He is busy bringing revival to South Africa at present and with it, forgiveness and unity. Proof of this can be seen at the Revival Crusades with Angus Buchan, which are currently taking place across the country, as well as the success of the annual Mighty Men’s Conferences.
The lack of forgiveness and disunity are the festering sores that keep people in spiritual and financial bondage. If we cannot forgive our brethren, we cannot work and walk together. Throughout the ages Satan’s plan has been to keep God’s people divided. If we can’t stand together we can’t walk in victory.
So what can be achieved by unity? Here a lesson can be learnt from the Moslems.
In 1994, Malaysia created the world’s first Islamic inter-bank money market. From Jakarta to Jeddah, 265 Islamic banks and other financial institutions are now operating in some 40 different countries. According to the organisers of the International Islamic Finance Forum, the total assets of this money market are topping $262 billion.
Islamic banking refers to banking activity that is consistent with Islamic law (Sharia) principles and is guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest, also commonly called riba in Islamic discourse.
In addition, Islamic law forbids investing in businesses that are considered unlawful, or haraam. These are businesses that sell alcohol or pork, or institutions that produce media, such as gossip columns or pornography, as these are contrary to Islamic values.The Islamic nation decided to put a structure together that will serve its people and help them to live according to the Koran. This unity in idea and direction has given them a basis for phenomenal growth and strength.
Western banks have seen the promise in this structure and are starting to use some of the product as offered by the Islamic banks.
The applied principles of the Islamic banking mechanism are contained in the Koran, of which the first five books are comparable to the Biblical books of Moses – Genesis to Deuteronomy. These same principles have been given to the Jews and the Christians alike.
More exciting news about the Manna Bank initiative and its progress will appear in future issues of The Vessel. So watch this space for much more… Any further enquiries can be directed to juanita{at}waterangel.co.za
This would not necessarily work because the banking system is a closed loop and regulated by a central bank, none of it asset based or underpinned by commodities (fractional reserves are today whatever the central bank decides). It would have to be an altogether independant bank, but who would regulate it? Problem.
Banks create money from thin air – when you take out a loan the bank creates the money in a computer, the central bank qualifies this as real money beacuse it will be paid back. Where does interest come from? From debt, actually from nowhere, it accumulates in the banking system – it is a monster that keeps growing, growing – till eventually interest amount supercedes actual money. Result – system crashes. (Unless the ‘interest’ money is recycled back into the system)
What is interesting is that many people are calling for an alternative to FIAT currency, one interesting idea is of a ‘digital dollar’. It exists only in the computer system and can only be in one place at the same time in the world based on some algorithm or code. It is basically a cashless system that could resolve the monetary crisis we have.
Michael
That is exactly what I thought when I saw this article back last year.
We invest our assets with them and GOD would regulate it. I can’t believeeeeeee you missed that one ;) After all if you read at the bottom of the article. The principles of the first 5 books of the OT of the Bible are the same as the Koran. Same God? perhaps?
Lastly, who are these core believers, I would love to know. Who’s got that much gold and silver to start this.
impossible! why? “GREED”
Does Manna Bank have a website? A project that sounds so serious should at least have a little bit of PR behind it to get off the ground…….
Pieter
Ask Angus Buchan. Or email Ederkruik/The Vessel website. Or maybe this is a Gragam Power inituative. But somehow I think Chuck Missler has beat Manna bank to the finish line with SWANbank.