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 Outrageous: Norway’s largest bank calls for total end to cash

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Outrageous: Norway’s largest bank calls for total end to cash Vide
PostSubject: Outrageous: Norway’s largest bank calls for total end to cash   Outrageous: Norway’s largest bank calls for total end to cash Icon_minitimeSat Jan 23, 2016 10:22 pm
Citing the “dangers and disadvantages” of cash, DNB Bank has called for it to be completely phased out.
Norway’s largest bank, DNB, has said that cash has fallen out of favour with everyday Norwegians and is instead primarily used on the black market and in laundering schemes.

Outrageous: Norway’s largest bank calls for total end to cash 34a547365b47c1413783c5687271bd824a0cd2ce8d8a581470a504775863c2d8

“Today, there is approximately 50 billion kroner in circulation and [central bank] Norges Bank can only account for 40 percent of its use. That means that 60 percent of money usage is outside of any control. We believe that is due to under-the-table money and laundering,” bank executive Trond Bentestuen told VG. 
"There are so many dangers and disadvantages associated with cash, we have concluded that it should be phased out," he added. 
Bentestuen said that only around six percent of the Norwegian population uses cash daily, with the numbers higher amongst the elderly. 
The Ministry of Finance is opposed to DNB’s proposal and the bank official acknowledged that going completely cashless “will likely take some time” but suggested that the process should be started now, for example by discontinuing 1,000 kroner notes...

http://www.thelocal.no/20160122/norways-largest-bank-calls-for-complete-end-to-cash
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