Informal and Alternative Banking Activities
Les Dlabay
While globalization is at the forefront of international business, vast numbers of people work and conduct transactions removed from registered companies. In these informal economic settings, financial activities often occur through nonconventional channels that include:
Amaka stores cash in a wall of her hut, or buries banknotes in the ground. These actions hide money from family and friends who might demand financial assistance.
At a tanda meeting in a Mexico City, Gracia deposits 50 pesos. This week is her turn to receive the payout of 600 pesos to buy a used oven for her home-based bakery business.
In the Laguna province market, in the Philippines, Romeo needs ...
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