Lakhasly

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First: traditional financing systems

The results indicate that the distinctive feature of traditional financing systems is informality, where financing is through local and informal channels represented by kinship and local groups that played this vital economic role.Second: Modern financing systems

Field evidence indicates the diversity of modern funding systems in research communities between formal and informal funding systems.It can be said that these traditional systems reflected

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CS CamScanner

4

Two basic aspects of the distinctive social and economic life of research communities during the pre-change phase are:

• The nature of the social structure existing in these societies during that period, which was characterised by simplicity, cohesion and social cohesion, and in which kinship and local groups played a prominent economic role in all economic activities related to fishing, starting with financing operations and ending with marketing the production proceeds, passing through the processes of preparing tools and craftsmanship...Rather, the opinions of the reporters indicate the spirit of solidarity and cooperation that characterized these groups and communities during that period, to the extent that it sometimes prompted participants to willingly give up some of their own shares to a partner who was facing crises, financial problems, or emergency social circumstances such as the marriage of children, or a sudden illness, etc.Research communities still witness its continuation until now.etc.

100

First: traditional financing systems

The results indicate that the distinctive feature of traditional financing systems is informality, where financing is through local and informal channels represented by kinship and local groups that played this vital economic role. The participation of these groups and individuals results in providing the necessary expenses for establishing and operating the project, which later becomes the mainstay of the economic life of these groups. It can be said that these traditional systems reflected

74

CS CamScanner

4

Two basic aspects of the distinctive social and economic life of research communities during the pre-change phase are:

• 
  

  The nature of the social structure existing in these societies during that period, which was characterised by simplicity, cohesion and social cohesion, and in which kinship and local groups played a prominent economic role in all economic activities related to fishing, starting with financing operations and ending with marketing the production proceeds, passing through the processes of preparing tools and craftsmanship... etc.

  
  


• 
  

  The prevailing technological level, where traditional manual technology spread, which resulted in a decrease in the amount of capital spent on project financing operations, which was limited to constructing the wooden structures of the ship (the tekna). The tools were also made by hand with low-cost local materials that were easily obtained through some small shops within the local communities, which provided these materials with an easy payment system that was often linked to the fishing seasons. Based on the above, the collection of family savings - which were often limited - was sufficient to provide the expenses necessary to finance the project or several projects with the same previous transfer system.

  
  

This family system of financing results in a distinct system of ownership, which is the joint family ownership system, the most widespread ownership system in research societies, especially in the pre-change phase.

Research communities still witness its continuation until now. This pattern of ownership also entails equal duties and rights for participants, each according to his share, so that no one is privileged at the expense of the other. Rather, the opinions of the reporters indicate the spirit of solidarity and cooperation that characterized these groups and communities during that period, to the extent that it sometimes prompted participants to willingly give up some of their own shares to a partner who was facing crises, financial problems, or emergency social circumstances such as the marriage of children, or a sudden illness, etc.

Second: Modern financing systems

Field evidence indicates the diversity of modern funding systems in research communities between formal and informal funding systems. These systems, in their diversity and multiplicity, in contrast to the unity and similarity of traditional systems, reflect that degree of specialization that has occurred in research communities, which appears through the emergence of economic institutions and bodies.