Chapter

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

Kavita Datta

in Migrants and their money

Published by Policy Press

Published in print April 2012 | ISBN: 9781847428431
Published online January 2013 | e-ISBN: 9781447307549 | DOI: http://dx.doi.org/10.1332/policypress/9781847428431.003.0005
Coping with savings and credit exclusion: alternative practices of reciprocity and trust

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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

Chapter.  9550 words. 

Subjects: Social Stratification, Inequality, and Mobility

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