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Hamoud
Hamoud is a 25-year-old single man who lives in Sana`a. He studies for a bachelor degree and has been operating a shop selling books and clocks. He has three years of experience in this field and has gained the skills and experience necessary to be a successful entrepreneur.

He has learned both market prices and his customers' needs very well. Hence, he usually buys merchandise for lower prices than his competitors and resells it more profitably. Stationary is in high demand because there are a lot of schools and institutes where these supplies help to facilitate their work.

Hamoud would like to expand his business in order to buy religious pictures, gifts, perfumes and clocks, and for this purpose he has applied for a youth loan of 150,000 Yemeni Rial (YER) from AMB.

In the future, he wishes to increase his sales in order to get married and improve the living conditions of his family as well as open a telecommunication shop.

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
  • 29
    View loans »
    Yemen Loans Fundraising
  • $3,141,950
    Funds lent in using Kiva
  • 219.3
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Hamoud to buy religious pictures, gifts,perfumes and o`clockes for his business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 5, 2012
Listed
Feb 22, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013