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Taha
Taha is 28 years old, married, and has three children. He lives in Aden, Yemen. Previously, he worked in a telecommunication shop, introducing phone services and selling mobile recharge cards to his customers. He has been involved in this kind of business since 2008. After collecting enough money, he opened a telecommunication shop.

Taha is requesting a loan for 300,000 YER from AMB Bank, which he will use to purchase mobile recharge cards and mobiles to sell to his customers and to develop services for his telecommunications shop. He needed the loan to purchase more goods for the shop to meet the demands of his clients. In the future, he hopes to be a successful merchant in order to buy a phone accessories store and earn an increased income, which will enable him to pay his obligations in school and some of his household expenditures.

Additional Information

More information about this loan

This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, Al-Amal is charging 0% interest on this loan. This is a Murabaha loan, which means that Al-Amal purchases goods for borrowers and charges a fee or mark-up. Click here to learn more about this loan type and Kiva's approach to lending in the Islamic world.   

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.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.3
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Taha to purchase mobile recharge cards and mobiles for his business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 30, 2012
Listed
Aug 2, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013