Check out some available loans that are similar to this one!
Alghzlan Group
In this Group: Shwayh, Khmisa, Fatima, Shwayh, Rahma, Nadia
The members of the "ALGHZLAN" group are all married women, they are Shwayh, Khmisa, Fatima, Shwayh, Rahma and Nadia averaging 30 to 50 years of age with five children. They all live in traditional extended families in the Sana`a, Yemen. They know each other through family, friendship and neighborhood ties. They requested a loan of 270,000 Yemeni Rial (YER).

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.

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
  • 29
    View loans »
    Yemen Loans Fundraising
  • $3,135,375
    Funds lent in using Kiva
  • 215.7
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Alghzlan Group's $1,275 loan helped a member to buy ingredients like flour, oil, shortening, salt, etc. for her business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 8, 2012
Listed
Apr 16, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013