Financial Cooperative Societies: Conceptual Framework and Evidence from Egypt Ahmed Taha Al Ajlouni

Yıl 2018, Cilt: 4 Sayı: 1, 6 - 23, 31.03.2018

Ahmed Taha Al Ajlouni

https://doi.org/10.25272/j.2149-8407.2018.4.1.01

Öz

This paper reports on a survey conducted in Egypt about the motives behind participating in Societies; and their perception by participants. It is also devoted to clarifying the unique nature of Societies as a premise of informal finance to manage financial aspects that bear zero interest. A random sample of participants from Helwan area in Cairo, who joined a Society for managing their financial needs, was selected. A questionnaire was used for collecting data and descriptive analysis methods were used for analyzing the study variables. The study revealed that Societies have a long history mode that has been followed in many countries. It also showed that the participants devote the majority of the Society's sum for expenditure on current essential short-term needs. A high sensitivity to Islamic Sharī’ah has been showed by the Society members. It proved that the general trend toward Societies was very positive.

Anahtar Kelimeler

Islamic finance, Crowd Funding, Microfinance, ROSCAs, Egypt, personel finance

Kaynakça

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