Check out some available loans that are similar to this one!
Mohammed is a 40-year-old, married man with 6 children who lives in Sana`a, Yemen. He has gone through some hardships in his life. However, because of his dedication and desire to get ahead in life, he has been able to overcome these difficulties and make progress, together with his family. He owns a grocery store where he offers basic consumer goods for sale. He has been operating his business for seven years. He started his business with a small retail shop, and he expanded his it until it became a grocery store.

Recently, his inventory of merchandise has diminished considerably. With the intention of increasing the quantity of products that he offers, he wants to buy more food products to display for his customers. However, he does not have enough capital to make all of these purchases. For this reason, he requested a loan of 500,000 YER from AMB. This loan will allow him to buy grocery items like canned food, spices, and soft drinks. In the future, he would like to own a supermarket.

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
  • 214.8
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,350 helped Mohammed to buy canned food, spices, soft drinks and other groceries for his business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Nov 21, 2012
Jan 1, 2013
Currency Exchange Loss:
Jan 17, 2014