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Om Wajdy Group
In this Group: Huda, Khadigh, Faizh, Asia
This group is called Om Wajdy. It consists of four members who are all females: Khadigh, Faizh, Huda, and Asia. All of them are friends and from Aden, Yemen. They have primarily worked together in a small business selling varieties of goods for several years. The entire group took a loan of 200,000 Yemen Rials (YER).

Khadigh is 65 years old and lives in Aden, Yemen (in the photo, she is the woman with the uncovered face). She has been selling food products for 4 years. Her main goal is to attain steady growth and to be recognized as a seller of high-quality products. Her main goals are to gain customers that order in greater quantities and to have enough capital to respond to a potentially increasing demand. This is why she asks for a loan of 60,000 YER from AMB to buy flour, sugar, canned food, and water materials products in greater quantities, which will net her a discount. She wants the range of goods she offers to make an impression on her customers, which will help her sell more.

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
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 213.8
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Om Wajdy Group's $950 loan helped a member to buy flour, sugar, canned food, and water materials products for her business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 15, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013