2007-02-27 00:13:04 · 4 answers · asked by Wanyama S 1 in Business & Finance ➔ Other - Business & Finance
Common sense
2007-02-27 00:16:20 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I would say it's comon only in US , EU and maybe Japan and a couple other countries
The rest of the world is not used to that .. simply because ppl are too poor to be trusted that they can return the money .. also, if you take the money and run away how do they find you ?
and in a poor country, someone will definetly run away for some 5k USD .. so imagine if you give him like 100k , can you ever again find him ? :)
also .. ppl in those countries live for their children and are kinda more rooted to their places, so they understand that instead of paying interest to someone it's better to not buy that car (or whatever) untill you get your own money.. why should they pay interest to some fat-pocket capitalists ? .. its just common sense
see what happens in US for example .. everybody in debt and are taking anti-depressant medications .. that's the impact of credit cards and loans
2007-02-27 00:17:45 · answer #2 · answered by Zettag 2 · 0⤊ 0⤋
cos the commercial banks n other licenced banks r not popular yet as africa is still under developed people may be unable to pay back money if lended to them.
2007-02-27 00:18:49 · answer #3 · answered by robert KS LEE. 6 · 0⤊ 0⤋
Because the Banks are poor due to the fact that the people are poor and can't afford to put the money into the banks for other people to borrow it.
WE WANT OUR WEALTH BACK!
Also, WE WANT A FAIR PRICE FOR ALL OUR RAW MATERIALS!
2007-02-27 00:24:03 · answer #4 · answered by Afi 7 · 0⤊ 0⤋