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Al-Boshra Group
In this Group: Jamila, Sameera, Boshra, Rshida
This group is called Al-BOSHRA and consists of four members who are all females: Jamila, Sameera, Bushra and Fatima. All of them are friends and from Aden, Yemen. They primarily work together in small business like sewing. The group took a loan of 120,000 YER.

Jamila, 49, (she is the second women from the left with clothes on her lap) is a married woman with two children. She has designed and sold curtains, blinds, and dresses as well as mobile phones and decorations in general, since starting her business one year ago. Initially she only took on simple designs, but as she gradually became more skilled in decorative arts, she added more value to her work.

Currently she has clients that include important department stores. With the business she gets, she’s been able to expand her location and grow her infrastructure. The quality of her fabrics has allowed her to maintain a select clientele that usually sends her new clients. Her goal is to grow her business and position herself in the market and separate her production space from her family space to achieve tranquility.

Jamila is requesting a loan of 30,000 YER from AMB to buy fabric and needles in large quantities in order to get a discount, as she has orders she’ll be working on. She'll make her investment a success.

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
  • 4
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 219.1
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Al-Boshra Group's $550 loan helped a member to buy fabric and needles in large quantities for her business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 22, 2012
Listed
Mar 13, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013