I have come across people particularly from the Punjabi and the Islamic community who have set up a very good practise to help the new immigrants from their region/religion to set base in Canada.

When a new family arrives, many families pool around $1000 to $2000 per head and make it upto around $15 K to $20K and give it to the new immigrant to put down as a payment for the new house. He pays it back in small installment over a few years. Once he is on his feet, he in turn helps another new immigrant.

If you look closely it is akin to MLM(which again is the story line in Chiru's new super hit telugu movie called Stalin). Once you receive one good, you pass it onto three others, while it helps others and you in turn get helped by the Divine.

In some cases they take a small interest, while in the Islamic community they do not take any form of interest. I came across one person who landed with nothing on his back about 6 to 7 years and through the help of others and through his hard work, has paid up his condo and also his two cars.

Why don't CD's plan in such terms ?.

Another form will be when a person immigrates from the Gulf, India, USA or other place he leaves a good employment behind. If he can post the position he is leaving behind there might be a few desis who could apply for this position. This way you earn the goodwill of the employer as you are leaving behind a good quality replacement, while the CD is thankful to you for obtaining his employment.

Why don't we think about this Good Will Chain ?.

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Speech by Thomas Friedman of The New York Times....

"When we were young kids growing up in America, we were told to eat our
vegetables at dinner and not leave them. Mothers said, 'think of the
starving children in India and finish the dinner.' And now I tell my
children: 'Finish your maths homework. Think of the children in India
who would make you starve, if you don't.'"

The Desis in Canada can form a 'Desi Credit Union' that can do what you are saying. Some communities in the GTA had formed their own credit unions in the past.

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India Canada Bhai-Bhai

Good idea. Actually I am already working on it. At this time it is on initial stage and I do not know would I succeed or not. Any desi who would like to extend help/share view, is welcome.

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Live and Let Live. Together we can make a difference.

DP JAIN, CPA, CGA, CPA (US), CA(I), LL.B.(I)
416-305-0080
(Loans, Mortgage, Tax, Accounting, Investments)

Excellent concept being discussed here amongst CDs.

Good things succeed in life without any doubts.

Let me know how I can help.

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
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