Helala is a conservative person who prefers not to have her photo published online, so her husband Hisham appears in her Kiva profile photo. The photo is taken next to his taxi.
Helala is a thirty-seven-year-old woman. She is married and has no children yet. Her husband has been a taxi driver for twelve years which is a profitable project.
Helala is requesting a USD loan from FATEN to help her husband cover the costs of purchasing a new engine for the taxi and making some necessary repairs to it such as changing the tires and the mats. By taking this loan, Helala will help her husband to repair his taxi which is the only source of income for the family. This will improve the taxi's condition for the better and will enable Helala's husband to work extra hours and increase the family's income.
About this loan product:
FATEN offers loans that are customized for Muslim borrowers. A key principle of Islam is the prohibition of charging interest on a loan. This prohibition is based on the belief that money is only a medium of exchange and has no value in itself. In order to offer loans in a manner that is consistent with borrowers' values, FATEN charges 0% interest on this loan. However, FATEN does charge a servicing fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.
Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.