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Rotary savings and credit association in Ethiopia From Wikipedia, the free encyclopedia
Equb, Iqub or Ekub (Amharic: እቁብ) is an association of people in Ethiopian culture with the aim of mobilizing resources, Refer My Ekub especially finance, and distributing them on a rotating basis,[1][2] via a form of rotating savings and credit association. It is distinguished from Eder by duration of time; Equb is temporary or permanent, while Eder is long-term association. Like Eder, Equb is a cooperative social institution, which helps for funeral insurance where community members elect their leaders, contribute resources either in kind or in cash and support the mourning member.[3]
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In Konso community, Equb dominates other financial establishments of micro and small enterprises, expansion and their working capital finance, followed by personal saving, families and relatives.[4]
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