Equb or Iqub ( Amharic: እቁብ) is an

association Association may refer to: *Club (organization), an association of two or more people united by a common interest or goal *Trade association, an organization founded and funded by businesses that operate in a specific industry *Voluntary associatio ...

of people in

Ethiopian culture The culture of Ethiopia is diverse and generally structured along ethnolinguistic lines. The country's Oromo-speaking majority adhere to an amalgamation of traditions that were developed independently and through interaction with neighboring and ...

with the aim of mobilizing

resources Resource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their av ...

, especially finance, and distributing them on a

rotating Rotation, or spin, is the circular movement of an object around a '' central axis''. A two-dimensional rotating object has only one possible central axis and can rotate in either a clockwise or counterclockwise direction. A three-dimensional ...

basis. It is distinguished from Eder by duration of time; Equb is temporary or permanent, while Eder is long-term association. Like Eder, Equb is a cooperative social institution, which helps for funeral insurance where community members elect their leaders, contribute resources either in kind or in

cash In economics, cash is money in the physical form of currency, such as banknotes and coins. In bookkeeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-im ...

and support the mourning member. In Konso community, Equb dominates other financial establishments of micro and small enterprises, expansion and their working capital finance, followed by personal saving, families and relatives.

References

{{Reflist Banking in Ethiopia Social institutions Ethiopian culture