Antsar is the leader of this group. (She is the second woman from right side whose face is covered.) She is a 32-year-old married woman who has three children who live together in Aden, Yemen. She had been working in different businesses where selling mobile recharge cards was part of the business.
She started her business with a previous loan from AMB. Her most important challenge is to keep her business stable and sustainable. She enjoys working and serving the needs of her family. Her business has been growing to the point where she is selling a greater range of products and acquiring more clients and communities.
She applied for a loan of 60,000 YER from AMB to buy additional mobile recharge cards in order to increase her sales. She hopes to expand her business to improve her living conditions.
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
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Success!! The loan was 100% repaid