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Borrowing and saving the Egyptian way

The average Egyptian family spends more than 40% of its income on food - so for those on lower salaries, paying for bigger items like weddings is a struggle.

But for many, the answer does not lie in taking a loan out from a bank.

Instead people join a Gamiya - a circular credit scheme among families and friends which involves no interest.

Ola Naguib explains how the system works.

  • 06 Apr 2013
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