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Almostagbal /abeer Group
In this Group: Mahbah, Ghalia, Noura, Safiah
This group is called Al-mostgbal /Abeer and consists of four members who are all female: Ghalia, Noura, Safiah and Mahbah. All of them are friends from Aden, Yemen. They primarily work together in small businesses like sewing. The group took a loan of 200,000 YER.

Mahbah is the leader of their group. (She is the second lady standing on the left covered by a purple, green and white Islamic veil outfit.) She is 40 years old, widowed with eight children and lives in Aden.
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Her main business is sewing, which is used to stitch patterns of fabric. She has been in business for several years and she employed two women to help her in her business. With several years of experience to her credit, she now has a good command of her activity. She is taking a loan of 50,000 YER from AMB and intends to use her loan to better develop her business to purchase fabrics and textiles to increase her savings. Her profits will allow her to help her family’s needs.

In the future, Mahbah would like to have a big center to sell other products such as incense, perfumes and different clothes.

Additional Information

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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Yemen

  • $2,700
    Average annual income
  • 3
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 213.2
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Almostagbal /abeer Group's $950 loan helped a member to purchase products like fabrics and textiles for their business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 25, 2012
Listed
Jan 29, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013