Jógkör
Jógkör is a type of cooperative banking and savings group originating from Iceland. The term translates to "yoga circle," which alludes to the cyclical and communal nature of its operation. In a jógkör, a group of individuals pools their money together. Members then take turns receiving the entire accumulated sum for a predetermined period, typically a month. The order in which members receive the money is usually decided by lottery or agreement among the participants.
The primary advantage of participating in a jógkör is the ability to access a significant lump sum
Jógkörs are based on trust and mutual agreement among members. They operate outside of traditional financial