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Khalid is a 35-year-old man living in Taiz, Yemen. He is a father of two children. His background education is Chartered Accountant. Khalid's business is a grocery store that he started 15 years ago with limited capital and income. He knows how to attract customers through the service that he provides and the prices that he offers. His main customers are the homemakers living in his neighborhood and the local community. So, he is working hard to continually provide income for the family's everyday expenses.

Being an ambitious man, Khalid would like to expand his business. So he took a youth loan of 150,000 YER from AMB in order to rent a separate space and increase the variety of products.

In the future, he hopes to purchase a truck, which he will use to pick up goods from wholesalers to take to his grocery and to purchase another shop to open, an accounting office, which has a network of branches, titled by his name.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

About Al-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 219.3
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Khalid to rent a separate space and increase the variety of products.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Jan 15, 2012
Jan 23, 2012
Currency Exchange Loss:
Dec 15, 2012