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Gam'eya
Gamey'a is a form of rotating savings and credit association (ROSCAS) used in over 89 countries and communities around the world, particularly in the Middle East). It is referred to as a chit fund in India and a tanda in Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema .... How it works: # - Group of friends joins together to contribute a fixed monthly installment into a common pot. # - Every month one of the users takes the whole pot as a payout. # - Circle ends when all circle participants gets his/her payout once. # - Circle is then usually repeated with the same group of people over again. References *F.J.A. Bouman, Indigenous savings & credit societies in the developing world in Von Pischke, Adams & Donald (eds.) Rural Financial Markets in the Developing World World B ... [...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] |
Middle East
The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Province), East Thrace (European part of Turkey), Egypt, Iran, the Levant (including Syria (region), Ash-Shām and Cyprus), Mesopotamia (modern-day Iraq), and the Socotra Governorate, Socotra Archipelago (a part of Yemen). The term came into widespread usage as a replacement of the term Near East (as opposed to the Far East) beginning in the early 20th century. The term "Middle East" has led to some confusion over its changing definitions, and has been viewed by some to be discriminatory or too Eurocentrism, Eurocentric. The region includes the vast majority of the territories included in the closely associated definition of Western Asia (including Iran), but without the South Caucasus, and additionally includes all of Egypt (not just the Sina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chit Fund
A chit fund is a type of rotating savings and credit association system practiced in India, Bangladesh, Sri Lanka, Pakistan other Asian countries. Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours. In some variations of chit funds, the savings are for a specific purpose. Chit funds are often microfinance organizations. History The chit fund is said to be an institution that has been handed down since ancient times. In 1887, William Logan, erstwhile Collector of the Malabar district of the Madras Presidency, described the custom of chit funds among friend groups in that region. In 1894, economic historian Edith Simcox mentioned that chit fund lotteries were used to raise money for special events like weddings in South India. Various reports in the 1930s point to the popularity of chit funds in current-day Kerala. In the 1930s and 1940s, between 1000 and 10,000 formal funds functioned in the state every year. Chit f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia. Modern humans arrived on the Indian subcontinent from Africa no later than 55,000 years ago., "Y-Chromosome and Mt-DNA data support the colonization of South Asia by modern humans originating in Africa. ... Coalescence dates for most non-European populations average to between 73–55 ka.", "Modern human beings—''Homo sapiens''—originated in Africa. Then, int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tanda (informal Loan Club)
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] |
Mexico
Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Mexico covers ,Mexico ''''. . making it the world's 13th-largest country by are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Building
Community building is a field of practices directed toward the creation or enhancement of community among individuals within a regional area (such as a neighborhood) or with a common need or interest. It is often encompassed under the fields of community organizing, community organization, community work, and community development. A wide variety of practices can be utilized for community building, ranging from simple events like potlucks and small book clubs, to larger–scale efforts such as mass festivals and building construction projects that involve local participants rather than outside contractors. Activists and community workers engaged in community building efforts in industrialized nations see the apparent loss of community in these societies as a key cause of social disintegration and the emergence of many harmful behaviors. They may see building community as a means to address perceived social inequality and injustice, individual and collective well-being, and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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