Gam'eya
From Infogalactic: the planetary knowledge core
Lua error in package.lua at line 80: module 'strict' not found. Gamey'a (As known in middle east) is very common in over 89 countries and communities around the world. They call it Chit funds in India and Tandas in Mexico.
How it works:
1- Group of friends joins together to contribute a fixed monthly installment into a common pot.
2- Every month one of the users takes the whole pot as a payout.
3- Circle ends when all circle participants gets his/her payout once.
4- Circle is then usually repeated with the same group of people over again.
References
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<references />, or <references group="..." />- 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 Bank, Washington, 1983
- Stuart Rutherford. The Poor & Their Money Oxford University Press, Delhi, 2000
- Clifford Geertz. The Rotating Credit Association: a middle rung in development. Cambridge, Massachusetts, United States: Massachusetts Institute of Technology, Center for International Studies, 1956
- William J. Grant & Hugh Allen. CARE's Mata Matsu Dubara (Women on the Move) Program in Niger. Journal of Microfinance, Brigham Young School of Business, Provo, Utah, Fall, 2002.
- Hugh Allen and Mark Staehle. Village Savings and Loan Associations (VSLAs) Programme Guide, Field Operations Manual. VSL Associates, Solingen, 2007.
