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Abdullah
Abdullah is a 23-year-old man. For three years, he has had a taxi and has been a taxi driver, which has been a profitable project, but needs more support to cover the costs.

Abdullah is requesting a USD youth loan from FATEN to help him cover the costs of purchasing a new motor for the taxi. This will increase the taxi's efficiency, enabling Abdullah to work extra hours and improve his income to ensure a better future for himself. Abdullah is pictured next to his taxi.


About Shariah-compliant lending:
FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.

Additional Information

More information about this loan

This loan is helping support a borrower who is 35 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

About FATEN

Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.

About Palestine

  • $2,900
    Average annual income
  • 92
    View loans »
    Palestine Loans Fundraising
  • $10,874,125
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Abdullah to purchase a new motor for the taxi.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 14, 2012
Listed
Jun 13, 2012
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2014