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Migrants and their moneySurviving financial exclusion$
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Kavita Datta

Print publication date: 2012

Print ISBN-13: 9781847428431

Published to Policy Press Scholarship Online: January 2013

DOI: 10.1332/policypress/9781847428431.001.0001

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Coping with savings and credit exclusion: alternative practices of reciprocity and trust

Coping with savings and credit exclusion: alternative practices of reciprocity and trust

Chapter:
(p.117) Five Coping with savings and credit exclusion: alternative practices of reciprocity and trust
Source:
Migrants and their money
Author(s):

Kavita Datta

Publisher:
Policy Press
DOI:10.1332/policypress/9781847428431.003.0005

Chapter Five considers the migrants who deploy a range of individual and group-based informal financial practices relating to saving, borrowing and lending. These alternative practices include reciprocal lending and borrowing often organised between extended kin and co-national friends as well as the reproduction of transnational group-based rotating savings and credit groups especially noted in the Somali and Turkish communities in London. In so doing, the chapter illustrates how dynamics of trust and solidarity are reproduced in the informal financial practices of migrants and the potential to develop alternative institutions of accumulation.

Keywords:   Informal financial practices, Savings and credit exclusion, Rotating Savings and Credit Clubs, Trust, Solidarity, Alternative institutions of accumulation

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