Credit unions and money clubs (ROSCAs) (Respond to this article at http://www.therai.org.uk/at/debate) |
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| Authors: | Shirley Ardener |
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| Institution: | International Gender Studies Centre at Lady Margaret Hall and the Institute of Social and Cultural Anthropology, University of Oxford. |
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| Abstract: | This article responds to the Archbishop of Canterbury's high profile endorsements of credit unions and his strong stance against so‐called payday loan companies charging high rates of interest. His views have received wide press coverage along with responses by payday loan companies. This article looks at research on Rotating Savings and Credit Associations (ROSCA) which flourish in communities frequented by anthropologists worldwide to meet the financial needs of participants. Unlike credit unions, most ROSCAs do not charge interest. |
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