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Al-Noor Group
In this Group: Sina, Anisa, Fatima, Elham
This group, Al-Noor, consists of four members: Anisa, Elham, Sina, and Fatima. They work in their businesses daily to increase their profits and offer a good living for their families. They live in Aden, Yemen. Together, they have applied for a loan of 230,000 YER.

Anisa is the leader of the group (she is the woman on the left with the black handbag). She is 41 years old where she lives with her children in Aden, Yemen. She works hard to provide for her family. In her business, she sells different items, such as foods and household products. She started her business to sell ice cream and vegetables. She has been in this business for eight years. Due to the bad situation in Yemen, she has requested a loan in order to buy stock for her business, such as clothes, soap, and foods. She hopes to expand her business to open a clothing store.

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
  • 21
    View loans »
    Yemen Loans Fundraising
  • $3,205,325
    Funds lent in using Kiva
  • 213.8
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Al-Noor Group's $1,100 loan helped a member to buy stock for her business, such as clothes, soap, and foods.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2012
Listed
Jun 22, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013