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Ramzy
Ramzy is 30 years old; he is married and has two children and is a resident of Sana`a, Yemen. He mentions that he has been involved in selling cosmetics and perfumes for two years. His parents taught him how to develop in this business.The location where he sells his products is in a market in Sana`a. There is a lot of activity in his area as far as all types of arts and crafts are concerned. Because of his good customer skills, he is able to attract more clients.

His wife, children and parents make up his immediate family. He would like to expand his business. So he took out a youth loan of 80,000 YER to stock his business with cosmetics, ladies' handbags and perfumes. He wishes to enroll his children in private schools.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

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
  • 13
    View loans »
    Yemen Loans Fundraising
  • $3,193,525
    Funds lent in using Kiva
  • 215.7
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Ramzy to buy cosmetics, ladies' handbags and perfumes for his business.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 21, 2012
Listed
May 1, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013