Wikipedia
Gam'eya
Gamey'a (As known in middle east) is very common in over 89 countries and communities around the world. They call it Chit funds in India and Tandas in Mexico.
How it works:
1- Group of friends joins together to contribute a fixed monthly installment into a common pot.
2- Every month one of the users takes the whole pot as a payout.
3- Circle ends when all circle participants gets his/her payout once.
4- Circle is then usually repeated with the same group of people over again.