What does rotating savings and credit association mean?
Definitions for rotating savings and credit association
ro·tat·ing sav·ings and cred·it as·so·ci·a·tion
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Wikipedia
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. The first academic description of ROSCAs was by Shirely Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as tandas (Latin America), chama (Swahili-speaking East Africa), Kameti کمیٹی (Pakistan), visi (Gujaratis, India), ekub (Ethiopia), partnerhand (West Indies), cundinas (Mexico), ayuuto (Somalia), stokvel (South Africa), hagbad (Somaliland), susu (West Africa and the Caribbean), hui, 會 (Chinese communities in East & SE Asia), paluwagan (Philippines), Gam'eya جمعية (Egypt), kye (계) (South Korea), tanomoshiko (頼母子講) (Japan), pandeiros (Brazil), cuchubál (Guatemala), juntas, quiniela or panderos (Peru), C.A.R. Țigănesc/Roata (România), arisan (Indonesia) and dhukuti or dhikuti (Nepal).
Numerology
Chaldean Numerology
The numerical value of rotating savings and credit association in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of rotating savings and credit association in Pythagorean Numerology is: 2
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"rotating savings and credit association." Definitions.net. STANDS4 LLC, 2024. Web. 24 Apr. 2024. <https://www.definitions.net/definition/rotating+savings+and+credit+association>.
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