Rotating savings and credit association has goal saving
A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending.
The first academic description of ROSCAs was by Shirley Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as tandas in Latin America, chama in Swahili-speaking East Africa, kameti (کمیٹی) in Pakistan, visi (વિસિ) among Gujaratis in India, ekub (እቁብ) in Ethiopia, partnerhand in the West Indies, cundinas in Mexico, hagbad in Somalia, stokvel in South Africa, susu in West Africa and the Caribbean, hui (會) in Chinese communities in East and Southeast Asia, hội/hụi (會) in Vietnam, paluwagan in the Philippines, gam'eya (جمعية) in Egypt, gye (계/契) in South Korea, tanomoshiko (頼母子講) in Japan, chit fund in India, pandeiros in Brazil, cuchubál in Guatemala, juntas, quiniela or panderos in Peru, C.A.R. Țigănesc/Roata in Romania, arisan in Indonesia, lenshare (เล่นแชร์) in Thailand, dhukuti or dhikuti (धुकुटी/ढिकुटी) in Nepal, gün in Turkey, and menage' or menodge in Scotland.