The Property And Legal Regulation Of ROSCA In Our Country

Rotating Savings and Credit Association(ROSCA)is a financial mutual cooperation forms based on kinship and geography.After thousands years of development and evolution,ROSCA has become an integral part of the traditional financial system.The rapid development of ROSCA meet economic requirements in aspects of production,life expense,and meanwhile effectively solved the difficult problems of borrowing for its members.However,legality of ROSCA has not been established yet in our country,so it is not protected by the law.This situation is inconsistent with the reality of the development of ROSCA and imposes a negative effect on the development of the rural economy.Moreover,since ROSCA was grown and developed in the soil of traditional finance of China,and its operational mode does not agree with modern financial system,and due to the lack of formal system regulation,ROSCA is running with a more and more obvious "outside the system" feature,and thus the high risk cannot be ignored.With this background,it is necessary to investigate the value and criterion of legitimization for ROSCA,so as to establish the special legal system of ROSCA that suitable for our country,and meanwhile set up risk precaution for ROSCA.In this thesis,by identifying the basic theory such as the property,feature and the operational mode of ROSCA and analyzing the characteristics of ROSCA and its law status in our country,the necessity of critical regulation for ROSCA is illustrated,and the specific property and its related configuration are proposed to ensure the healthy development of ROSCA.In the first part,this thesis introduces the basic theoretical issues of ROSCA,identifying the ptoperty,feature and operational modes of ROSCA,and thereby leads to the detail discussion of the advantage and disadvantage of ROSCA.In the second part,by illustrating the characteristic and the law position of ROSCA,the thesis takes a deep insight into the reasons why ROSCA should be legitimated,and meanwhile investigates the drawbacks of the regulation for law position of ROSCA in our country.The third part focuses on existed problems of ROSCA in our country,and illustrates the necessity of critical regulation for ROSCA from four aspects,including characteristics,function,effect and current status.By drawing the experience of Japan and Taiwan of China,the fourth part of this thesis discusses the establishment of the law system for ROSCA in our country.Based on the general principle,the establishment of law feature,organization,operation,management and the related measures and mechanism for ROSCA are illustrated in details.