Jameel is 31 years old, married, and the father of two children who are currently in school. He lives in Sana`a, Yemen. His education background is "Diploma". After school, he looked for a job but unfortunately, he didn`t find one. So, he has worked very hard for many years to get his family ahead and give them everything they deserve. He has a grocery store which is his main source of income.
Jameel started his business with limited capital that he had operated well. Then, he developed his business to a grocery. His business is located in a very strategic area. Many people prefer his store because he always has the basic stables at affordable prices, and he provides the best possible customer service. His dream is to see his store flourish.
Due to the current bad situation in Yemen, he has less profit from his enterprise. So, he took a loan of 100,000 YER from AMB to stock his business with more products so that his customers will always find what they need and keep coming back.
His goal for the future is for his business to grow and to have more customer demand. He will then get more income, which will help meet the basic needs of his household.
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.