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Altawn Group
In this Group: Fatima, Khizran, Om Alkhyr, Basmh
This group is called Al-Tawn and consists of four members: Fatima, Khizran, Om alkhyr and Basmh. They are friends who live in Sana'a, Yemen. They took out a loan of 130,000 YER.

Fatima is the leader of the group. She is a widow and has five children who live together in Sana`a, Yemen. She owns a house that she wants to renew with construction supplies. She works hard to provide her family all they need. The main hardship that she faces in her business is the lack of capital. She is requesting a loan of 40,000 YER from AMB to buy cement to renew her house.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Yemen

  • $2,700
    Average annual income
  • 23
    View loans »
    Yemen Loans Fundraising
  • $3,208,400
    Funds lent in using Kiva
  • 213.6
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Altawn Group's $625 loan helped a member to buy cement to renew her house.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2012
Listed
Jun 22, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013