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Parwin's Group
In this Group: Parwin , Lezan , Dlban
Parwin is a 66 years old and is an experienced Iraqi woman. She is married and a mother of four children. Like many Iraqi women, she learned to sew at a young age and with limited career options due to cultural restrictions and domestic constraints, she is one of the many Iraqi women who are working from home, using her sewing skills to generate some income and participate in meeting the financial needs of her family.

She has 23 years' experience with the little business activity, and she takes pride in her traditional quality works. She would like to make some improvements to the services she can offer, and would also like to improve her own work atmosphere. She took a loan from Relief International - Microfinance Iraq to renew her work area and buy an overlock sewing machine and some nice quality fabrics and raw materials.

Relief International - Microfinance Iraq offers group loans for clients unable to provide a guarantor and thereby unable to apply for a loan as an individual. As a group, the members collectively guarantee the loan. Groups consist of three to five clients and each client is evaluated on his or her repayment capacity. All group members receive the same loan amount as the individual with the lowest repayment capacity in the group.

Additional Information

About Relief International Iraq

Relief International (RI) is a non-profit non-sectarian organization with a multifaceted approach to working in post-conflict, vulnerable and transitional countries. As part of its core mission to bridge emergency relief with long-term development though sustainable, enterprise-oriented solutions, RI directs a broad microfinance portfolio in the Middle East and South Asia. In Iraq, RI microfinance has been providing access to capital for micro, small and medium enterprises since 2006. When lending through RI, there are several points to consider:

1. RI-Iraq offers loans that are customized for borrowers in Iraq, a predominantly Muslim country. A key principle of Islam is the prohibition of charging interest on a loan. This prohibition is based on the belief that money is only a medium of exchange and has no value in itself. In order to offer loans in a manner consistent with borrowers' values, RI-Iraq charges 0% interest on this loan. However, RI-Iraq does charge a servicing fee to cover its costs. The loan amount you see listed on Kiva 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 according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.

2. Because of on-going security concerns, due diligence on RI-Iraq was conducted remotely, rather than in-person as is typical with most Kiva Field Partners. RI-Iraq does, however, meet all of the other minimum criteria required by Kiva's full due diligence.

3. One of the challenges of lending to entrepreneurs in Iraq is the increased chance of difficulty transferring funds between the United States, where Kiva is based, and Iraq. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a chance that we may encounter problems doing so in the future. This could result in difficulty repaying loan funds to lenders, even if individual borrowers have paid back their loans. As a lender to borrowers in Iraq, you would be taking on this additional risk.

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 Iraq

  • $3,600
    Average annual income
  • 0
    View loans »
    Iraq Loans Fundraising
  • $9,342,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Parwin's Group's $4,500 loan helped a member to renew her work area and buy an overlock sewing machine and some nice quality fabrics and raw materials.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 4, 2012
Listed
Jul 7, 2012
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2013