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Ali
Ali is 37 years old and is from Sana`a, Yemen. He’s married and has two children. He has been operating his bookshop for two years, after he decided to become independent and looked for a way to earn income for his family. This is his first business. He does not have help from anyone else; he runs his business by himself. He also has other income that he generates by himself by running a call center. His plan is to expand his business.

He’s asking for a loan of 100,000 YER to buy books, paper, and other bookshop items. He feels this loan will help him to increase sales as well as his income.

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.

About Yemen

  • $2,700
    Average annual income
  • 29
    View loans »
    Yemen Loans Fundraising
  • $3,141,950
    Funds lent in using Kiva
  • 213.5
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Ali to buy books, paper, and other bookshop items for his business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 19, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013