Shyam Singh Team
Description
Micro-Community Banking:
For broader participation in retail banking, the social aspect of society has to be added. Social participation makes banks to cover more individuals and help individuals or groups of people to do micro saving, investment, or provide loan.
Community Account: This will be a new form of account where the individual will be part of a social group and everyone will fund this account from their own saving accounts. This account will be managed and governed by a group of people rather than individuals. The idea of social account is to help the community to do saving at a large scale and then let them invest/ provide loan to others if needed
Community Loan: Social loan is provided by the money pooled in the social account, based on the consensus of the majority of stakeholder of social account, money is provided as a loan or investment to the requestor. Requestors can be part of a social accounts or different individuals/ different social accounts.
Connecting piece together, these social account and community loans form a Micro Community banking, letting society to be soul part of banking system which will help Banks to strengthen the root in KSA society.
Team Members
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Team Lead