Rastafari provides the ethical guidelines that the individual must follow in all aspects of life, with the emphasis on living in harmony with each other and with nature and the prevention of infringement of the rights of others.
An important principle is that Rasta Economics is always based on asser. Rasta Economics should actually contribute something to the real economy and should not make money with money alone, this is also the reason that interest is forbidden.
Rasta Economics does risk sharing instead of risk transfer. In the case of applications for the start or expansion of a company, there is the possibility of partnership, whereby the bank receives no interest on the loan amount on repayment, but shares in the profit and any losses incurred by the entrepreneur.
REAL OWNER
The first principle of Rastafari Economics: One is only entitled to the benefits if one is willing to bear the burdens.
Rastafari Economics, therefore, neither recognizes nor appreciates wrong or illicit means and laws of acquiring, utilizing and distributing the wealth.
Rastafari believes that wrong means and laws for the acquisition, utilisation and distribution of wealth may consolidate or circulate the resources and wealth only in a few hands, leading to monopoly, which may further disturb the natural phenomenon of wealth management.
So, from the Rastafari perspective, the real owner of the resources of the world is JAH who has created, sustained and distributed them on the earth and in the heavens and human beings are just trustees who are entitled to utilise and transfer its ownership to others in the way prescribed by JAH.
WEALTH AND RESOURCES
The second principle of Rastafari Economics relates to wealth and resources. JAH has created abundant wealth and resources, both actual and potential that support man’s existence on this earth.
The resources that directly support man’s existence are known as actual resources and the resources that are useful for humans after adding the utility in terms of economic benefits are known as potential resources.
Every human being is encouraged to work hard to acquire, earn, harness and utilise those resources but only in the way prescribed by JAH.
Every human being has the right to earn and acquire as much wealth as possible, but within the permissible boundaries set by JAH.
ECONOMIC TRUST AND RELATIONSHIP
The third principle of Rastafari Economics relates to the economic activities. The economic activities include the production, distribution and consumption. First, there should not be exploitation of the weak and the poor in the activity of production.
One cannot produce the goods and services that are prohibited by JAH and are harmful to the society.
The commodities and services to be produced are categorized into necessities, comforts and luxuries. The first preference in the production process shall be given to necessities, then comforts and then followed by luxuries.
Prevent the oppression or aggression, a few basic conditions are advanced to regulate the trade and to safeguard the interest of all those involved in it.
Trade is allowed by mutual consent without harming one another. It is mandatory to have ‘transparency’ in trade and business.
ROLE AND NATURE OF MONEY
The fourth principle of Rastafari Economics relates to the role and nature of money. Rastafari views ‘money’ as only a medium of exchange and a measure of value. The rationale behind this principle is that, every human being needs a large number of commodities for survival.
The transaction of exchange is inevitable among people who have the commodities and those who need such commodities. But there must be a measure on the basis of which price can be determined, because the exchanged commodities are neither of the same type, nor of the same measure which can determine how much quantity of one commodity is a just price for another.
Therefore, all these commodities need a medium to measure their exact value. Hence, ‘money’ is invented as the medium to measure all the commodities, services, assets or wealth as a whole. Money is a tool to measure the value of all commodities and it is not a commodity in itself. Money has no intrinsic value.
In fact, by following the divine principles in acquisition, utilisation and distribution of wealth, both the individual and the society enjoy the fruits of prosperity, development and success in the life here and that of here after.
Having outlined the principles of Rastafari Economics, we now state that Rastafari Economics, in simple terms, is the subject or science that studies and guides the economic behaviour of man in the light of divine guidance.
The fundamental principles of Rastafari Economics rest on and are grounded in a sense of accountability, responsibility, mutual trust, equity, justice and equal opportunity.
If viewed from a practical sense, then it is clear that all the principles of Rastafari Economics are designed to achieve the betterment of mankind.
Preconditions: Projects and whether companies related to drugs, porn, alcohol, weapon trade, gambling and trade in animal species such as pigs are not eligible for funding.
Flatbridge Trust, together with its international partner Sanctuary of the Rastafarian Order Ministry (SOTRO), will offer financing capital to the private sector for the development of Micro, Small and Medium Enterprises (MSMEs). It concerns financial services in which prosperity, equality and partnership between entrepreneur and bank are the ultimate goals of development-oriented initiatives.
MSMEs are crucial for the economic and social development of emerging markets. They play an important role in economies: creating jobs and generating income, promoting economic growth, social stability and contributing to the development of a dynamic private sector.
Access to financial services is essential in developing a dynamic MSME sector in every economy. As a result of a number of factors including limited access to financing, Flatbridge Trust wants to use Rastafari Finance to stimulate development.
The transformation to Flatbridge Trust (Rasta banking) takes place in 2 phases: