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 Mobile Wallet, Is a new trends in Malaysia

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wyne
post Feb 23 2008, 05:20 PM

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where is the thread starter? Personal opinion, why don't everyone put the 44k here to get 5% + 5% interest instead of put the money in bank for low rate return? And if it is so reliable, why they don't advertise it widely so everyone can get the benefits? There is a country collapsed because the government invest in MLM scheme, a country could collapse, what you think of this well call RM 2.5million?


Added on February 23, 2008, 8:00 pm
QUOTE(happy4ever86 @ Dec 30 2007, 05:03 PM)


We have our own AJL license to running MLM business, not those money game company ~
MAVCAP is invest at Mobile Wallet 2.5 Million, MAVCAP is a company that belong to our ministry of finance ~
And it's a biggest shareholder at Mobile Wallet, so you don't have to worry about this company is illegal ~

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MINISTER OF FINANCE. YAB Dato' Seri Abdullah bin Haji Ahmad Badawi, do you mean our current prime minster , he is our finance minister, am i right? please correct me if i am not, thanks


This post has been edited by wyne: Feb 23 2008, 08:00 PM
wyne
post Feb 23 2008, 09:34 PM

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First of all, i apologize for my mistake, i miss think that MLM is same as pyramid scheme . please forive me

QUOTE
Multi-level marketing (MLM) businesses function by recruiting salespeople to sell a product and offer additional bonus or sales commission on the volume of other salespeople they recruit, commonly known as their "downline". New joiners may be required to pay for their own training / marketing materials, or to buy a significant amount of inventory. Thus it is possible that an MLM may be considered a pyramid scheme if salespersons are more concerned with recruiting a downline or if they must buy more product than they are ever likely to sell.


QUOTE
THE PYRAMID scheme phenomenon in Albania is important because its scale relative to the size of the economy was unprecedented, and because the political and social consequences of the collapse of the pyramid schemes were profound. At their peak, the nominal value of the pyramid schemes' liabilities amounted to almost half of the country's GDP. Many Albanians--about two-thirds of the population--invested in them. When the schemes collapsed, there was uncontained rioting, the government fell, and the country descended into anarchy and a near civil war in which some 2,000 people were killed. Albania's experience has significant implications for other countries in which conditions are similar to those that led to the schemes' rise in Albania, and others can learn from the way the Albanian authorities handled--and mishandled--the crisis.

Why the pyramid schemes grew

The wide appeal of Albania's schemes can be attributed to several factors, including Albanians' unfamiliarity with financial markets; the deficiencies of the country's formal financial system, which encouraged the development of an informal market and, within this market, of the pyramid schemes; and failures of governance.




 

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