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Muhammad
Muhammad is 23 years old and is from Palestine. He has been working in hairdressing for 5 years now in his own shop which he inherited. Muhammad needed money to pay rent for the current month and to improve the shop by purchasing the tools he needs.

Muhammad came to FATEN to ask for the loan which will improve the shop and increase the number of clients since he will be using much better tools.

Muhammad is cutting a customer's hair in the picture shown here.

About this loan product:
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

Additional Information

About FATEN

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.

About Palestine

  • $2,900
    Average annual income
  • 33
    View loans »
    Palestine Loans Fundraising
  • $11,166,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $825 helped Muhammad to pay off rent and purchase tools.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 15, 2010
Listed
Nov 19, 2010
Currency Exchange Loss:
N/A
Ended:
Jan 15, 2012