Samar is a 28-year-old young woman. She is married and her husband is a Palestinian National Authority employee with a decent salary.
Samar is a conservative woman, so her husband is photographed instead of Saman in her store.
Samar has a cosmetics store. She wants to purchase more cosmetics and accessories to have more of a collection for sale. She doesn’t have enough money to pay for this, so she needs to take a loan from FATEN.
When Samar gets the loan, she will be able to compete with others, increase her income, and live in better conditions.
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.