Monday, July 5, 2010

Ethical Banking & Super

Banks can make money from anywhere. The money comes from the good, the bad and I'm sure the ugly.

I don't like the idea that I could potentially be earnng interest from companies that do not operate with society in mind.  Who operate in an unethical way, that don't think about their immediate environment and who are just plain old greedy.

There is a concept I came across a few months ago, Sharia Banking, AKA Arab Banking. Banking that is in favour of the borrower. No interest is paid, people do buy houses and its seen as a a necessity, not a luxury.

An alturistic idea, but not one that is offered here ...yet.

 So, in an effort that I can take to act more responsibly ... I have made a small but significant for me, change.  I can't really change my bank at present (Bendigo Bank is the only Australian bank that I know of, I need to gain access to it so some small bank doesn't suit my needs.) However, I have changed the way my superannuation is invested.

My investment is with the Socially Responsible Balanced investment. It is investment in a diversified share portfolio, made up of Australian and international shares. Investments are selected on the basis of sustainable investment criteria and in property, fixed interest and cash assets

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