Gameya
Gameya is a privately organized credit system common in Egypt and partly in Sudan and a form of ROSCA .
Occurrence
It was created at the beginning of the 20th century and initially only served women in rural areas to buy gold for the wedding of their daughters. Since these women usually do not have regular work and therefore do not have a regular income, any bank would refuse them a loan.
shape
If you need a loan, you can organize a Gameya among friends and acquaintances. He looks for ten people who, for example, will deposit £ 100 each for ten months. As a rule, these people are good acquaintances who have been known for a long time. This reduces the risk of failure. Every month this raises £ 1,000 , which one of the parties involved receives immediately. The initiator receives the first payment, then the others follow at monthly intervals in a predetermined order. The later someone receives their money, the sooner they will get it at a subsequent Gameya. There is no interest . The benefit for the initiator is that it can be raised quickly, and for the other parties involved, who get their money back over time, the need to save regularly.
See also
Individual evidence
- ↑ Heike Roggenthin: "Frauenwelt" in Damascus. LIT Verlag, Berlin / Hamburg / Münster 2002, ISBN 3-8258-6188-0 , p. 86. (books.google.de)