Tontine

[somluck]

I find most thais i know especially all the ladies like to partake in this tontine scheme. There seems to be one going on everywhere at anyone time....between families, friends, at the office etc. Some even see it as a form of savings/investments. Is this unique only to thailand?

[Beacher]

The idea of tontines was first established in the mid-1600's by an Italian banker, so they're certainly nothing new (and definitely not Thai). However, with its "last survivor gets it all" nature, I don't think I'd want to get involved in one anywhere, especially in Thailand.

Edited September 10, 2009 by Beacher

[somluck]

The idea of tontines was first established in the mid-1600's by an Italian banker, so they're certainly nothing new (and definitely not Thai). However, with its "last survivor gets it all" nature, I don't think I'd want to get involved in one anywhere, especially in Thailand.

Yes I googled that. But the thai version doesn't have to do with anyone actually dying before the payout...there is an 'expiry' date. It's more like a cheap loan for those who needs it and a interests generating investment for others.