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.
About Al-Amal Microfinance BankAl-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
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Success!! The loan was 100% repaid