Parmesan cheese is the credit provision in Italy

In Northern Italy, Parmesan cheese is the provision for the credit instead of jewelry or property in several bank. The bank Credito Emiliano store 400 thousand parmesan cheese. The 40 kilogram cheese accounts for 300 euros.

The bank store the cheese in its own cheese house, where a two-year maturation process is being monitored by experts. If the customer does not pay back ones credit, the parmesan will be sold.
This mode of financing is about fifty years old, dating back to the fifties: The Parmesan producers originally got money this way, during the two year maturation process – reports Index.