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A local currency to promote trade and local production

A regulatory framework

Prototypes of 5, 10, 20 tikatsou banknotes bearing the effigy of major characters and emblematic landscapes have already been produced by the association. The latter will soon launch a call for projects for the visual of the 1 tikatsou note. Nout Moné is also betting on a digital version of its local currency in the future.

“Reunion is an island therefore an isolated territory and therefore natural to circulate a local currency”, also sees as an advantage Laurent Payet-Bridier, responsible within the association for implementing the project and former associate professor of Mathematics. French regulations around local currencies, authorized by the Hamon law on the social and solidarity economy of 2014, are indeed very framed. Their use is permitted in restricted territories.

On the other hand, it is not possible to pay for shopping in a supermarket or hypermarket with local currency or deposit it in an account. “Feedback shows that local currencies circulate faster than the official currency. We cannot speculate on them, we cannot save but we still create wealth”, emphasizes Richard Riani.

Federate all the actors

For the project to see the light of day, you have to succeed in convincing a bank, to begin with. The creation of a local currency imposes a partnership with a bank for the creation of a guarantee fund which will have to rise here to 500,000 euros, calculated the association. “Contacts have already been made”, reassures Richard Riani. The second partnership to be sealed is that with the Department and the Region.

Nout Moné already has the support of Jean-Hugues Ratenon, Insoumis deputy but also regional councilor. “I am convinced that this can be an extraordinary tool for local development”, he rejoices. “The spirit of solidarity will prevail”. The idea is indeed part of the program of Huguette Bello, now elected at the head of the Inverted Pyramid. For Nout Moné, checks or health passes, kids, well-being….“are already the beginnings of a true local currency”. Finally, it remains to convince local businesses and citizens to participate and “transform an ordinary purchase into an act of commitment”, continues Richard Riani, aware that the process “will take time”.

The commitment is also ecological, specifies Laurent Payet-Bridier. Companies involved in Nout Moné will register “in an ethical charter advocating an eco-responsible approach”.

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