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Al-Asala Group
In this Group: Habibh, Azizh, Aziza, Wardh
This group is called Al-Asala and consists of Habibh, Azizh, Wardh and Aziza. They took out a loan of 250,000 YER.

Azizh is the president of her group. She is 42 years old, a married woman, and has three children. (She is the woman wearing a green and brown scarf.) She lives in Sana`a, Yemen. She has been selling all kinds of spices. She started her business several years ago with a small amount of capital. She did this because she needed a way to support her family. She says she offers her clients good service. This has earned her a very good reputation, as well as allowing her to increase her sales.

Azizh is requesting this loan of 60,000 YER to buy products such as chili peppers, etc. for her business. She hopes to have many stores in order to expand her business.

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
  • 29
    View loans »
    Yemen Loans Fundraising
  • $3,141,950
    Funds lent in using Kiva
  • 214.5
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Al-Asala Group's $1,175 loan helped a member to buy products such as chili peppers, etc. for her business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 6, 2012
Listed
Jul 2, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013