Munther is a 29-year-old man from Gaza City in Gaza Strip. Munther is married and has one daughter, Amal, who is five years old and one son, Rami, who is four years old.
Munther is a National Palestinian Authority employee and, as he is a government employees, his salary is not enough and he has to think of another source of income. Munther's father has a taxi that he doesn't use anymore therefor he decided to fix it and start use it to secure another source of income. Munther took a loan to replace the taxi's engine.
Munther appears in the picture here next to the taxi.
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
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.