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savings scheme

News updates related to failed informal lending schemes.

Làng quê lao đao vì phường hụi - Kỳ cuối: Hồi chuông cảnh tỉnh

Rural villages in turmoil due to informal lending schemes - Final part: A wake-up call.

High interest rates, simple procedures, based on trust - informal lending groups, once a familiar form of capital rotation, have in recent years been distorted, exposing a harsh dark side, where money is lost,...

Rural villages in turmoil due to informal lending schemes - Part 3: "Chasing after chickens" in vain.

Believing the promise of "contribute little, receive much," hundreds of people emptied their savings, even mortgaging their assets, to participate in informal lending schemes. However, when the scheme collapsed, the scheme organizer suddenly "disappeared,"...
Rural villages in turmoil due to informal lending schemes - Part 2: When interest rates cloud judgment.

Promises of "quick profits, early cash receipts" have led many people in Tan Ky commune to join informal lending groups with high expectations. But as the profit margins increase, so do the risks...

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