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Alazhar Group
In this Group: Khamisa, Samira, Jomah, Fann
This group is called ALAZHAR and consists of four members who are all females: Samira, Jomah, Fann and Khamisa (the group leader). They are from Taiz, Yemen and they know each other very well as they have lived in the same neighborhood for a long time. All their projects are home-based but they have so many clients, mostly women. The entire group took a loan of 120,000 YER.

Khamisa is 47 years old. She is standing in the center of the photo. She is married and the mother of four children between 17 and 28 years old. She lives in Taiz, Yemen and has been active in her business since 2008. She sells clothes. Her business is the only source of income to support her family.
She is planning, with the coming loan of 30,000 YER from AMB, to purchase fabrics, scarves and children's clothes to generate more profit. Her ambition is to open a larger clothing store in her environment.

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
  • $3,135,375
    Funds lent in using Kiva
  • 213.0
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Alazhar Group's $575 loan helped a member to purchase fabrics, scarves and children's clothes to sell.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 30, 2012
Listed
Feb 20, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013