A daret (also called tontine, جمعية, or a "savings circle") is a rotating savings and credit association (ROSCA). A group of trusted people contribute a fixed amount every month, and each month one member receives the entire pot. Everyone contributes the same total over the full cycle; the only difference is when you receive your turn.
How a daret works
A group of 3–12 people agree on a fixed monthly amount (e.g. 1,000 MAD).
Every member pays that amount each month.
Each month, one member receives the full pot (members × amount).
The turn rotates until every member has received the pot once, then the cycle ends.
Example
Six people put in 1,000 MAD each month. The monthly pot is 6,000 MAD. In month 1, member A receives 6,000 MAD; in month 2, member B; and so on. After six months, everyone has paid 6,000 MAD in total and received 6,000 MAD once.
Why Moroccans use a daret
Save a lump sum without a bank loan or interest.
Access money earlier than saving alone would allow.
Social commitment makes it easier to stay disciplined.
Daret vs tontine vs جمعية
They are the same thing under different names. In Morocco people say daret or جمعية; in French it is a tontine; in English it is a ROSCA or savings circle.