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Amal
Amal is 26 years old. She lives in Taiz, Yemen and characterizes herself as being a very hardworking hairdresser. For some time now, she has worked in a company selling cosmetics. With the impetus of helping her family with the household income, Amal decided to open a beauty salon that would provide more generalized services related to skin health, facial aesthetics, foot care, even meditation and other services.

Because she is a professional in her field, she actually has made more profit from customers who prefer to style their hair.

Due to the current bad situation in Yemen, almost all of her clients left to their villages and didn't have any interest in coming to her business when having weddings, which caused her business to stop.

Now she applied for a youth loan of 100,000 Yemeni Rial (YER) from AMB. This is why she has the hope that a loan will afford her the opportunity to buy personal care products for her business like lotions, creams, shampoo and make-up, among other things, that she hopes will make her customers return.

In the future, Amal dreams that her business will continue to provide income in order to help her family with the household income, and that way, provide a better quality of life. She also dreams of having a big store where she could hire many girls who are in need of work over there.

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

  • $2,700
    Average annual income
  • 25
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 213.8
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Amal to buy personal care products like lotions, creams, shampoo and make-up.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 4, 2012
Listed
Feb 7, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013