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Mrimo Group
In this Group: Hiam, Khadijah, Hana, Hiah, Nwal, Shfigah, Shmah
This group is called MRIMO. It consists of seven members: Khadijah, Hana, Hiah, Nwal, Shmah, Shfigah and Hiam who are mainly married women and average 28- 40 years of age with two to five children each. They live in Sana`a, Yemen. The members of this group are very trustworthy, responsible, hard workers. They have all known each other for a long time and know each other well. They have so many clients, mostly women. The whole group took out a loan of 330,000 YER.

Hiam is the group leader, 46 years old and a widow (she is on the right side holding a red and white dress in the photo). She has two children; the older is 5 years old and the younger is 3 and they live in Sana`a. Hiam has been operating a sewing business for over five years.

She chose this business because she loved it since childhood. She started to study to be a tailor in a sewing institute thus she developed her business by dealings with traders who support her to buy patterns of fabric and robes for stitching.

Because she is a professional in stitching, she requested a loan of 50,000 YER from AMB to purchase sewing machines and more fabrics to grow her business and attract more customers.

In the future, she dreams of saving money in order to purchase more machines to ensure that she can continue working and have a good professional career.

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
  • 28
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 219.2
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Mrimo Group's $1,525 loan helped a member to purchase sewing machines and more fabrics to grow her business and attract more customers.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 11, 2012
Listed
Feb 13, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013