Equb, Iqub or Ekub ( Tigrinya: እቁብ) is a

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. Members all chip in regula ...

of people in Eritrean & Ethiopian cultures with the aim of mobilizing

resources ''Resource'' refers to all the materials available in our environment which are Technology, technologically accessible, Economics, economically feasible and Culture, culturally Sustainability, sustainable and help us to satisfy our needs and want ...

and distributing them. 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 book-keeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-i ...

and support the mourning member. In

Konso Karat is a town in south-western Ethiopia and the capital of the Konso Zone in the new South Ethiopia Regional State. Situated 20 km north of the Sagan River at an elevation of , it is also called Pakawle by some of the neighboring inhabita ...

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

{{Reflist5.https://shega.co/post/my-ekub-expands-service-to-include-public-equbs/ Banking in Ethiopia Social institutions Culture of Ethiopia