Wala' is a young woman from Gaza city in Gaza Strip. She is the mother of two sons and married to Muhammad, who runs an aluminium production workshop. Muhammad makes windows and doors and installs them with construction co-workers. Wala's husband needed a large amount of aluminium to meet current demand and he wanted to pay the supplier in cash. Therefore, Wala' came to FATEN for a loan to help her husband pay for the needed material. The workshop is helping the family cover their expenses and live a decent life.
Wala's husband, Muhammad, appears in the photo in his workshop as Wala' is a religious woman and doesn't want to show her picture online.
About Shariah-compliant lending:
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 Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.
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.