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Mohammed
Mohammed is a 55-year-old married man with eight adult children. He lives in Taiz, Yemen.

He has been running a silver store for 20 years.

He is a person who has had to pass through many difficulties in his life. However, his desire to work and get ahead has permitted him to overcome them and continue to make progress in life.

Approximately at the age of 15 years, he had to leave the municipality where he was born due to the violence, and he immigrated to the city of Taiz with the determination to continue with his life. In the city, he worked as an employee in various businesses, but seeing how poorly paid he was, he decided to become independent and open a general store.

Currently, Mohammed is operating his small silver store, which permits him to generate the necessary income to cover his household expenses. He has very good customers, and this has caused his sales to rise in recent months.

Currently, Mohammed faces a bad situation in economic stability, and thus he is seeking to request a loan of 200,000 YER from AMB to buy silver for his business, in order to increase the variety of products he offers his customers.

Mohammed hopes that his business will increase its sales considerably. He also hopes that it will keep generating the income he needs to maintain his household.

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.

About Yemen

  • $2,700
    Average annual income
  • 26
    View loans »
    Yemen Loans Fundraising
  • $3,213,575
    Funds lent in using Kiva
  • 216.5
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Mohammed to buy silver for his business in order to increase the variety of products he offers for customers.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 28, 2012
Listed
Mar 13, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013