Holy shit, man! Why is this so hard for you to grasp? lol..It's not an interest earning bank account.. It's a system used by people with tight cash-flow who are preparing for a trip or anticipating a big expense! For example, i have met people who entered Ayuuto to buy a ticket to Hajj. All peoples are bad with saving money, not just Somalis. It's hard to have money sitting aside when you have a family to raise or in debt. You don't gain or lose anything from participating in this type of program. The whole point is to have a large sum of money, that would normally take months to save, at once. You get your big payday and continuing the program won't break the bank. It's not a long-term savings or financial plan.
The thing is, you are
in effect saving money when you involve yourself in this program.
The person who entered Ayuuto to buy a ticket to Hajj could have saved that money himself in increments. There is no need to involve other people, unless you are borrowing from them in the traditional sense. Ayuuto is nothing but an endless cycle of borrowing and returning, borrowing and returning.
What you are in effect saying is that Somalis don't have the self-control to save money normally so they must lock themselves into a system that forces them to save.
It's a totally pointless system if you have access to a bank account and a little bit of self-control.
