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Mohammed
Mohammed is a 31-year-old married man. He has one children who live in Taiz, Yemen.

He operates a spice shop where he sells items. He has been in this business for four years and employs one staff member. His business is located in an ideal business location. He describes stiff local competition as his biggest business challenge.

He applied for a loan of 150,000 YER from AMB to purchase all types of spices such as pepper and chili.

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

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 215.3
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Mohammed to purchase all types of spices such as pepper and chili for his business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 21, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013