
Money & Markets
The Nepalese guide to a bank-free savings accountIn Kagbeni, Nepal, a village of fewer than 1,000 people nestled high in the Himalayas, rupees change hands inside shops and barley is traded for buckwheat in the streets, but there is no modern way to store wealth. The nearest bank is a three-hour hike away; while most villagers have a drawer or plastic bag filled with badly worn rupees, few bother making routine deposits or withdrawals. So when a family finds themselves with a little extra money, or in need of some, they look to their rooftops, where the Kagbeni version of a savings account is neatly stacked.
Updated July 21, 20224 min read