Merna Tarek's Contact Details

Merna Tarek's Company Details

ElGameya

Cairo, Cairo Governorate, Egypt • 8 Employees
Financial Services

ElGameya is a FinTech mobile application that is used to organize and manage micro-savings and credit (ROSCA model). It mainly provides microcredit and collaborative lending solutions. ElGameya is based on the concept of sharing economy. We believe that ‘Sharing is Caring'.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 group of people deposits regular sums of money over a fixed interval with a principal individual, known as ‘the banker'.The money then goes into a central fund.Each person in the group will take a turn in withdrawing all that money.For example, if ten partners pay in £10 each week, over the next ten weeks each week the banker will pay £100 (the draw) to one partner.This is done each week until every partner member has taken part in a draw.