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Ahmad
Ahmad is a 32-year-old, young man who is married with one daughter. He is a taxi driver with a low income. Ahmad wants to repair his taxi by changing its doors but he does not have enough money.Therefore he needs a loan from FATEN. When Ahmad gets the loan, he will replace the taxi doors and this will improve the condition of his taxi. Ahmad will work extra hours to increase his income and provide his family with better living conditions. Ahmad is photographed next to his 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.

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
  • 99
    View loans »
    Palestine Loans Fundraising
  • $10,982,675
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Ahmad to replace the doors on his taxi.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2011
Listed
Dec 1, 2011
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2014