Inshirah is a 50-year-old woman, and she is married with one daughter. Her husband is a Palestinian National Authority employee with a decent salary. He is also a taxi driver.
Inshirah wants to help her husband repair and paint the taxi, but the amount of money she has isn't enough. So, she needs to take a loan from FATEN. When Inshirah gets the loan, she will be able to help her husband repair and paint the taxi. This will improve the taxi's condition and enable her husband to work extra hours to increase the family's income which in turn will improve the family's living conditions. Inshirah is a conservative woman, so her husband is photographed next to the taxi the family owns.
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.