Arisan

An '''''arisan''''' is a form of Rotating Savings and Credit Association in Indonesian culture, a form of Microfinance.<ref>{{cite web|url=http://www.bwtp.org/arcm/indonesia/I_Country_Profile/Indonesia_country_profile.htm |title=Indonesia Country Profile |accessdate=2008-11-19 |url-status=dead |archiveurl=https://web.archive.org/web/20081120160555/http://www.bwtp.org/arcm/indonesia/I_Country_Profile/Indonesia_country_profile.htm |archivedate=2008-11-20 }}</ref>

Generally the ''arisan'' is a social gathering that takes place at a fixed interval (this being an informal social network this may be variable), at each member's home in turn.<ref>{{Cite web |last=Chaisatien |first=Warren |date=2014-09-22 |title=Arisan and the rise of m-commerce in Indonesia |url=https://www.ericsson.com/en/blog/2014/9/arisan-and-the-rise-of-m-commerce-in-indonesia |url-status=live |archive-url=https://web.archive.org/web/20200928083513/https://www.ericsson.com/en/blog/2014/9/arisan-and-the-rise-of-m-commerce-in-indonesia |archive-date=2020-09-28 |access-date=2023-02-07 |website=www.ericsson.com |language=en}}</ref> The rotating ''arisan'' holder (drawn by lots) receives payment from each other member and provides food for those members. In the course of the ''arisan'' the amount paid to other members will equal the amount received when the ''arisan'' is held.

The ''arisan'' can vary from an essential form of credit in poorer social circles, funding an otherwise unaffordable business venture, wedding, or large purchase, to a purely social gathering for rich housewives with the money incidental (although the amounts can be considerable). As a source of finance it represents an alternative to bank loans and other forms of credit.<ref>{{Cite book |first1=Sandra |last2=Ardener|first2= Shirley|last1= Burman |url=https://worldcat.org/oclc/70426052 |title=Money-go-rounds : the importance of rotating savings and credit associations for women |date=1996 |publisher=BERG |isbn=0-85496-832-6 |oclc=70426052}}</ref>

In general, no interest is payable per se in the ''arisan'', and forms vary regionally within Indonesia. In some cases the ''arisan'' lacks a social element and is simply a means of circulating money between members; in this case the ''arisan'' may take the form of an 'arisan call', known as 'julu julu' or 'jula jula' in Sumatra.<ref>{{cite web |last=Kuncoro |first= |title=Julo-Julo Kredit Usaha Rakyat Ala Pariaman |url=https://www.kompasiana.com/kuncoromm/550ee518813311bb2dbc6441/julojulo-kredit-usaha-rakyat-ala-pariaman |url-status=live |archive-url=https://archive.today/20120708115116/http://ekonomi.kompasiana.com/moneter/2012/03/31/julo-julo-kredit-usaha-rakyat-ala-pariaman/ |archive-date=8 July 2012 |access-date=26 January 2022 |website=ekonomi.kompasiana.com}}</ref> The ''arisan'' call involves an auction element, whereby the member receiving the payout each week<ref>{{Cite book |last=Heiko |first=Schrader |url=https://worldcat.org/oclc/37132572 |title=Changing financial landscapes in India and Indonesia : sociological aspects of monetization and market integration |date=1997 |publisher=St. Martin's Press |isbn=0-312-21016-7 |oclc=37132572}}</ref> is determined not by lot, but by bid, those willing to wait till the end of the ''arisan'' receiving the largest payout, while more desperate borrowers will receive less, but get money earlier.

==References==

Category:Culture of Indonesia