Shwayh is a leader of the group and is 50 years old. She belongs to the "ALGHZLAN" group. (She is the woman wearing glasses.) She's been selling bread for many years. She says that she does very well with the business. She goes out into the town with a basket to sell bread and also sells it on order which she says she does well; she sells three times a week.
She applied for a loan of 60,000 YER from AMB. She hopes that she'll do better and will use the loan to buy the ingredients she uses to make the bread, such as: flour, oil, shortening, salt, etc. She is happy and hopes to get a lot out of the loan. She hopes the business will continue growing like it's done to date. She is grateful for the support provided.
About Al-Amal Microfinance BankAl-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
0View loans »
Success!! The loan was 100% repaid