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Sultan
Sultan is a 25-year-old single man who lives in Sana`a, Yemen with his family. He makes a living managing his grocery store, where he offers a variety of staple products. He is a very successful entrepreneur because he has a good location in the central bazaar of his home city. He is a skilled person who has seven years' experience in this business and has some regular customers who give excellent references.

The food products he sells are very popular and in high demand. His biggest dream is to improve his and his family's quality of life. Day by day, he thinks of ways to make his business grow, as it is his main source of income and this is the only way he can improve his and his family's living conditions.
Because of this, he has made the decision to request a youth loan of 350,000 YER from Al-Amal Microfinance Bank to invest in his business by buying wholesale products, such as eggs, rice, beans, bread, oil, biscuits, sweets, and soft drinks. He fully trusts in God and that his work will produce favorable results in order to fulfill his dream.

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
  • 25
    View loans »
    Yemen Loans Fundraising
  • $3,141,950
    Funds lent in using Kiva
  • 213.7
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Sultan to buy wholesale products such as eggs, rice, beans, bread, oil, biscuits, sweets, and soft drinks.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 19, 2012
Listed
Mar 5, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013