THE FUTURE OF MONEY Bernard A. Lietaer - library.uniteddiversity ...

Bia is the name of a currency, which is equal in value to, and used
together with, the Thai baht. Bia notes are available in denominations
of one, five, 10, 20 and 50 bia. The notes are made available to
community members of the Bia Bank in Santisuk. Ms Buatong
Boonsri, manager of the Bia Bank, explains community members can
borrow up to a maximum of 500 bia. She said: 'They must pay back
the amount of bia which they borrow' but the important difference is,
there is no interest charged. Similarly, there is no interest earned for
deposits made to the bank. 'Only community members who have
registered at the Bia Bank have access to these services. Unregistered
villagers may still use the bia if they wish to do so, simply by
accepting it from other community members.'
Use of the bia as an exchange medium is restricted to six
neighbouring villages. This being the case, one visitor asked: 'So what
good is bia if I cannot pay for my bus ticket to Bangkok with it?'
Pranomporn Tetthai, a member of the Bia Kud Chum working group
from Kud Hin Village, said: 'That is exactly the point! We are trying
to reduce the number of things villagers buy from outside the
community and encourage the support of locally produced goods
and services.' He adds: 'Our agricultural income (from the sale of
jasmine rice) will still be in baht. Therefore, we will still have baht for
necessary expenses such as hospital care. However, for local goods
and services we can reduce our expenses by exchanging in bia.'
Earlier after an alms-giving ceremony, Pra Supajarawatr, abbot of
Talad Temple, gave a sermon, which touched on these same issues.
'Our ancestors were self-reliant,' he said. 'They exchanged with one
another based on kindness and mutual respect. The natural
environment was abundant and community relations were strong.'
Fm Supajarawatr has been very active in community development in
the region For three decades. His efforts have helped to conserve area
forests, revive knowledge of traditional medicine, and preserve local