THREE ARAB OLD SHARING INITIATIVES THAT STILL EXIST!

The Collaborating ideas are not new in the Arab World. Throughout history, people practiced sharing and collaboration in their day-to-day lifestyle as part of culture and religious beliefs. People shared food, products and homes among many other things. They also invented a number of traditional Collaborative/Sharing initiatives which are still being adopted today.

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An old model of a non-interest crowd-lending. Jamee’h means ‘commit’; small amounts of savings from a number of individuals that are put together and given to one person. The process is then repeated again, usually on a weekly or monthly basis with each member of the group benefiting from the collected amount.

Let’s say, for example, there are ten people willing to join and raise $10,000 for each contributor in the group. To do this, every person should pay $1,000 a month or $250 a week over a period of ten months until this cycle ends. The beneficiaries are decided through a draw or mutual agreement when there’s an individual who needs the money the most.

This kind of collaboration is still very common in the Arab world today. But you can find this type of collaboration happening only between family, friends or friends of friends and very rare between strangers.

Check out the full story at Ahmadsb.com

2 thoughts on “THREE ARAB OLD SHARING INITIATIVES THAT STILL EXIST!

  1. Very little is known about the Arabs in Overseas countries like Colombia, one of those ways to share progress with others looks much the Jews of Colombia, without having to make comparisons that are capable, I welcome this series of initiatives I hope you all cultures put into practice, would be achieved to change the current economic model that is ambitious and greedy.

  2. Collaboration and the Sharing economy is not new. Many of the new worlds development can be traced back to the old world, just a different iteration. From times when villages pooled together resources to send one child to university, or farmers exchanging crops for livestock, seeds for young calf, it’s history repeating itself all over again.
    Thanks for this post! Good read.

    Alani

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