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Susu (informal Loan Club)
A susu or sou-sou or osusu or asue (also known as a merry-go-round, Partner or Pawdna in Jamaica and sol in Haiti)) is a form of rotating savings and credit association, a type of informal savings club arrangement between a small group of people who take turns by "throwing hand", as the partners call it. The name is used in Africa (especially West Africa) and the Caribbean. The basic principle is that each member of the group makes a standard contribution to a common fund once per some time period. Then each period the total contributions are disbursed to a single member of the group. The recipient changes each period in a rotating fashion such that all the members of the group are eventually recipients. Participants of a susu do not make a profit, but receive their contributions as a lump sum and is a forms of savings clubs. Overview A member who receives a distribution early on effectively receives a loan. They collect a larger sum of money early and "repay" as they make contri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hui (informal Loan Club)
Hui () refers to a group-based rotating saving and credit scheme that is popular among many immigrant and migrant communities throughout the United States and in Taiwan. ''Biao Hui'' ( 'to bid in Hui') is the Chinese verb when someone is engaging or participating in ''Hui''. Process The basic premise of the model is a group of close friends and family members coming together once a month and contributing a fixed amount of the money into a money pool. Every time, one member of the group will be chosen to withdraw the entire lump sum from the pool, often for purpose of down payments towards houses or cars or to start a new business. When the same group of people comes together again in the subsequent month contributing the same fixed amount, another member of the group will be chosen to take the lump sum. This process is repeated until every member in the group had a chance to withdraw the lump sum in a given month. Initiation and role of the group leader A particular ''Hui'' is usu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotating Savings And Credit Association
A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending. The first academic description of ROSCAs was by Shirley Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as '' tandas'' in Latin America, '' chama'' in Swahili-speaking East Africa, ''kameti'' (کمیٹی) in Pakistan, ''visi'' among Gujaratis in India, ''ekub'' in Ethiopia, ''partnerhand'' in the West Indies, ''cundinas'' in Mexico, ''hagbad'' in Somalia, ''stokvel'' in South Africa, '' susu'' in West Africa and the Caribbean, ''hui'' () in Chinese communities in East and Southeast Asia, ''hội''/''hụi'' in Vietnam, ''paluwagan'' in the Philippines, '' gam'eya'' (جمعية) in Egypt, ''gye'' () in South Kore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotating Savings And Credit Association
A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending. The first academic description of ROSCAs was by Shirley Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as '' tandas'' in Latin America, '' chama'' in Swahili-speaking East Africa, ''kameti'' (کمیٹی) in Pakistan, ''visi'' among Gujaratis in India, ''ekub'' in Ethiopia, ''partnerhand'' in the West Indies, ''cundinas'' in Mexico, ''hagbad'' in Somalia, ''stokvel'' in South Africa, '' susu'' in West Africa and the Caribbean, ''hui'' () in Chinese communities in East and Southeast Asia, ''hội''/''hụi'' in Vietnam, ''paluwagan'' in the Philippines, '' gam'eya'' (جمعية) in Egypt, ''gye'' () in South Kore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The Caribbean
The 'Economy of the Caribbean' is varied, but depends heavily on natural resources, agriculture and travel and tourism. Main trading partners Natural resources By international standards, minerals most valuable on the international market are found in Cuba, Jamaica, and Trinidad and Tobago. Several nations of the Caribbean are rich in natural resources; including Trinidad's vast natural gas and oil reserves, Jamaican bauxite and most recently the discovery of a largoil fieldin Guyana. The resources that make significant contributions to domestic economies and regional job sectors include fisheries, agriculture, forestry, mining and oil and gas bauxite, iron, nickel, petroleum and timber, among others. It has been noted by some that the Caribbean's most important resource is its tropical island setting, which has generated an important tourism sector. The attention by regional governments towards economic diversification in the early 1990s is often associated with increased produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Informal Economy In Africa
Formal, formality, informal or informality imply the complying with, or not complying with, some set of requirements (forms, in Ancient Greek). They may refer to: Dress code and events * Formal wear, attire for formal events * Semi-formal attire, attire for semi-formal events * Informal attire, more controlled attire than casual but less than formal * Formal (university), official university dinner, ball or other event * School formal, official school dinner, ball or other event Logic and mathematics *Formal logic, or mathematical logic ** Informal logic, the complement, whose definition and scope is contentious *Formal fallacy, reasoning of invalid structure ** Informal fallacy, the complement *Informal mathematics, also called naïve mathematics *Formal cause, Aristotle's intrinsic, determining cause *Formal power series, a generalization of power series without requiring convergence, used in combinatorics *Formal calculation, a calculation which is systematic, but without a r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Informal Economy In North America
Formal, formality, informal or informality imply the complying with, or not complying with, some set of requirements (forms, in Ancient Greek). They may refer to: Dress code and events * Formal wear, attire for formal events * Semi-formal attire, attire for semi-formal events * Informal attire, more controlled attire than casual but less than formal * Formal (university), official university dinner, ball or other event * School formal, official school dinner, ball or other event Logic and mathematics *Formal logic, or mathematical logic ** Informal logic, the complement, whose definition and scope is contentious *Formal fallacy, reasoning of invalid structure ** Informal fallacy, the complement *Informal mathematics, also called naïve mathematics *Formal cause, Aristotle's intrinsic, determining cause *Formal power series, a generalization of power series without requiring convergence, used in combinatorics *Formal calculation, a calculation which is systematic, but without a r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance In Africa
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Christen, Robert Peck Christen; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the deliver ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance In North America
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Christen, Robert Peck Christen; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the delive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Latin American
Latin Americans ( es, Latinoamericanos; pt, Latino-americanos; ) are the citizens of Latin American countries (or people with cultural, ancestral or national origins in Latin America). Latin American countries and their diasporas are multi-ethnic and multi-racial. Latin Americans are a pan-ethnicity consisting of people of different ethnic and national backgrounds. As a result, some Latin Americans do not take their nationality as an ethnicity, but identify themselves with a combination of their nationality, ethnicity and their ancestral origins. Aside from the Indigenous Amerindian population, all Latin Americans have some Old World ancestors who arrived since 1492. Latin America has the largest diasporas of Spaniards, Portuguese, Africans, Italians, Lebanese and Japanese in the world. The region also has large German (second largest after the United States), French, Palestinian (largest outside the Arab states), Chinese and Jewish diasporas. The specific ethnic and/or rac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Africa
Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area and 20% of its land area.Sayre, April Pulley (1999), ''Africa'', Twenty-First Century Books. . With billion people as of , it accounts for about of the world's human population. Africa's population is the youngest amongst all the continents; the median age in 2012 was 19.7, when the worldwide median age was 30.4. Despite a wide range of natural resources, Africa is the least wealthy continent per capita and second-least wealthy by total wealth, behind Oceania. Scholars have attributed this to different factors including geography, climate, tribalism, colonialism, the Cold War, neocolonialism, lack of democracy, and corruption. Despite this low concentration of wealth, recent economic expansion and the large and young population make Afr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tanda (association)
A Tanda is the Latin American term for an informal rotating savings and credit association (ROSCAS). They are operated globally, but have over 200 different names that vary from country to country. This economic activity is practiced among various groups of people which are also known as ''cundinas'' (Mexico), '' susu/Osusu'' (West Africa and the Caribbean), ''hui'' (Asia), ''juntas'' (Peru), ''cuchubales'' (El Salvador and Guatemala), ''pollas'' (Chile), ''arisan'' (Indonesia), '' main kutu'' (Malaysia), ''pandeiros'' (Brazil), paluwagan (Philippines), Stokvel (South Africa), committee (India & Pakistan) or ''quiniela''. An English name for such an association is a partnerhand. In short, a tanda is a form of a short-term no-interest loan among a group of friends and family. Structure The tanda is one of the most commonly followed informal associations in Mexico with 31% of the population actively participating in one. A tanda may be managed in different ways. The way it usually wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Susu Account
Susu collectors are a traditional form of financial intermediaries in Africa, predominantly in Ghana. For a small fee they provide an informal means for Ghanaians to securely save and access their own money, and gain some limited access to credit, a form of microfinance. Money looked after for an individual by a Susu collector is held in a Susu account. The sus informal accounts used in the Caribbean and among West Indian immigrants to the United States are similar. History In the Akan language susu means "plan". In this context, planning with a group of people to save a certain amount of money. The concept is also known in Jamaica as ''Paadna Money''(Partner Money) or simply as ''Paadna''. The 1990s saw significant growth in the number of clients per susu collector in other African countries, and growth in the size of individual deposits, according to Aryeetey and Udry (1995). Today, Susu collectors provide many Ghanaians who would otherwise be denied credit with access to mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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