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One of the greatest pleasures of traveling the globe is encountering and becoming bewildered by the local currencies. The manner in which each country and culture approaches money is frequently as distinctive as the cultures themselves.
- Pakistan Cultures of Pakistan
In Pakistan, the practice of Zakat involves the donation of 2.5% of an individual’s wealth to charity. Zakat is one of the Five Pillars of Islam and is observed by Muslims worldwide; however, Pakistan is one of the few countries that mandates it as a charitable contribution. The objective of the practice is to prevent individuals from neglecting those who are less fortunate as they accumulate fortune.
- India, India: Cultures
Numerous other traditions worldwide are founded on the collection of funds for significant events. In certain regions of India, a Kuri Kalyanam, a grand dinner, is organized to raise funds for significant events such as weddings or house renovations. The meal is anticipated to be funded by a generous donation from all invited guests. However, this act is not wholly altruistic, as the host of the meal is expected to contribute twice as much when they are invited to each donor’s Kuri Kalyanam.
- Greece Greece-Cultures
In Greece, such donations are subject to a prickly wrinkle. Euro notes are frequently affixed to the attire of the bride and betrothed during weddings. Xάρισμα (Harisma) is a custom that allows wedding guests to contribute to the future nest egg of the happy couple. Despite the potential for a minor puncture, the couple is undoubtedly grateful for this opportunity.
- Jamaica Jamaica- Cultures
The provision of a one-time capital increase to individuals in Jamaica and other Caribbean communities is based on a trust system known as Susu. The lending circle members each contribute a predetermined sum of money, and at the conclusion of each round, a single individual will receive the entire sum to be used for a significant purchase, such as a business investment or the purchase of a vehicle. It provides groups with limited access to financial institutions with the opportunity to borrow money without paying exorbitant interest rates or using their property as collateral.
- Kenya Kenya – Cultures
Communities have begun to establish their own credit systems in countries where obtaining financing to invest in a business is nearly impossible. In Kenya, this has resulted in the emergence of harambee, a community-led initiative in which participants aggregate their funds and allocate them to a project that is in the community’s interest.