Abstract
In Thailand, by Department of Community Development, Ministry of Interior, there is the promotion of establishing the saving for production groups which are micro finance organizations in the villages around the country [1,2]. The groups, founded from the gathering of the villagers, aim to conduct financial activities in order to help one another, encourage the members to economize and save the money every month. Besides, the saving becomes the capital for the members who are in need or with trouble to take on a loan for investing, carrying on their occupation, or improving their prosperity and their family’s welfare.
Highlights
In Thailand, by Department of Community Development, Ministry of Interior, there is the promotion of establishing the saving for production groups which are micro finance organizations in the villages around the country [1,2]
The reason was that the commercial banks and financial institutions were unable to provide the services covering the rural areas thoroughly
The groups started playing an important role when there was an economic crisis in Thailand in 1997 resulting in the problem of unemployment
Summary
Depending on local loan shark, those people were taken advantages These problems had led the community to discover the importance of self dependence and gathered to establish their financial groups in their won villages where the money was used as a major mechanism means for the needy to get together as a group, to reinforce the ability of one another, and to utilize the resources in developing their own quality of life. This addressed the development from the foundation which would result in the country development in the future. Setting, X9 as operation planning, X10 as members’ participation in decision making on operation, X11 as annual ordinary meeting, X12 as member registration, X13 as connection of the group capital with any other groups or organizations, X14 as financial document management of the group, X15 as profit and loss statement preparation, X16 as balance sheet preparation, X17 as participation in trainings, seminars, and observation activities related to capital management of the committee in the past year, X18 as exchange of concepts, principles, and operational methods to develop the community between the committee and the external organizations in the past year, X19 as management of welfare thoroughly distributed to the group members, poor households, and the underprivileged, X20 as defining the roles of the committee to strengthen the group, and X21 as appropriate management and thorough distribution of welfare for its member to strengthen the group [19,20,21,22,23]
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