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Case #842

Title:
Refugee collective helps individuals afford big expenditures

Summary:

A group of refugees developed a system that helped each of them receive a large lump sum of money (on a rotating basis) for major expenditures by each contributing a certain amount on a monthly schedule. This type of group action was stimulated by their inability to obtain credit at local banks.

Comments:

The system Reem Haddad describes is something that is already being practiced in several parts of the Philippines-small groups (of mixed ages and gender) in rural and urban communities pooling together their resources for mutual benefit. This has been going on for as far back as I can remember and in one region the system is called 'Pahulugan' which literally means 'a place where one drops something'. Funny how sometimes one finds the solution to a problem in one's own backyard after having searched high and low for answers. Chito Mandia Boac, Philippines

Location: Beirut, Lebanon
Action: Economic/Business
Setting: Semi-Developed
Extent of Action: Local
Issues: Economics
Year(s):
Outcome successful
Source: New Internationalist 348, August 2002, p. 3

Contacts:

Prepared By: dp, 07/04
Rating: 0
 
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