Egyptians throw parties to save in 'money pools'

  • 7 years ago
As belly dancers sway to the music of an Egyptian band playing at a young girl's birthday party, the guests count their cash to add to the pot. Microphone in hand, master of ceremonies announces that one of the attendees has contributed 5,000 Egyptian pounds, an unusually large amount. This is a cooperative savings system helping Egyptians living in a period of deep economic hardship to find funding outside the banking system.

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