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Mohammed
Mohammed is 51 years old, married and the father of six children. He lives in Sana`a, Yemen.

He started his business using his own capital, money that he had earning from his previous job. He began selling firewood, through which his business grew. He continued bringing in more products until he noticed he had converted his business to a grocery store. He has been operating this business for ten years. He always relies on his strength and plans to expand his business and have his own store.

He is taking out the loan of 150,000 YER to buy oil, beans, sugar, bread, coffee, milk and soft drinks. He hopes very much that added inventory will help him with his business.

Mohammed's goal is to give a good future to his children and make his grocery store productive and profitable.

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.

About Yemen

  • $2,700
    Average annual income
  • 17
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 212.9
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Mohammed to buy oil, beans, soft drinks, sugar, bread, milk and other products for his business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 29, 2012
Listed
Feb 13, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013