Mahmoud is a young man from Jabalia refugee camp in Gaza Strip. He lives with his parents. Mahmoud wanted to help his father take care of the family as well as saving money for future plans. He got a driving license and started working as a taxi driver. Mahmoud is contracting with families to transport them on a daily basis, such as for work or school and back.
Mahmoud is doing a very good job since a lot of families know him now and ask for his services more frequently. Mahmoud came to FATEN to take a loan and renew the car's engine so that the car serves a longer time with a better performance.
Mahmoud appears here next to his car.
Important information about this loan:
FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit our FAQs.
Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.