Financial Cooperative Societies: Conceptual Framework and Evidence from Egypt

Ahmed Taha Al Ajlouni

Abstract


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.


Full Text:

PDF

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.