UK Accounting Glossary
RAAM is an attempt to create a global currency to eliminate world poverty, describing itself as the “Global Development Currency of the Global Country of World Peace.” The RAAM was established by Maharishi Global Financing in The Netherlands, which has targeted its use in farmers cooperatives in South America and Africa for agricultural development. It is an initiative of Maharishi Mahesh Yogi, also famous for creating Maharishi Open University.
It is currently used side by side with local currency in The Netherlands, but the Iowa Attorney General ruled its use in Vedic City, Iowa was illegal. It can be exchanged at a rate of 10 euros for 1 RAAM NL.
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This glossary post was last updated: 13th February 2020.