Rates of return are nominally very high, interest rates of 25 to 50 per cent per month being normal as against the legal maximum of 30 per cent per annum and current bank lending rates of under 10 per cent per annum. On the other hand, default may be as high as four loans out of five, an expression both of the general lack of trust and of the value attached to trustworthy relationships.

XREF: Connects to informal credit markets and why microfinance and rotating savings associations emerge where formal banking is absent.

Diego Gambetta, Trust - Making and Breaking…, loc. 2379