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Ghaleb
Ghaleb is a conservative person who prefers not to have his photo published online, so his son appears in his Kiva profile photo.

Ghaleb is a 57-year-old married man, a father to three sons and two daughters. He is employed and earns a small salary that is not enough to cover the family's needs. Ghaleb's son is a university student specializing in Engineering who wants to complete his studies, so Ghaleb is requesting a USD loan from FATEN to help his son cover the cost of purchasing a new laptop. This will help Ghaleb's son to do his homework and reports and help him in his studies. This will ensure a better future for Ghaleb's son and improve the family's living conditions.

About Shariah-compliant lending:

FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising 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 in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.

Additional Information

More information about this loan

This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, FATEN is charging 0% interest on this loan. This is a Murabaha loan, which means that FATEN 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 FATEN

Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.

About Palestine

  • $4,900
    Average annual income
  • 37
    View loans »
    Palestine Loans Fundraising
  • $11,647,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $875 helped Ghaleb to buy a new laptop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 19, 2012
Listed
Dec 13, 2012
Currency Exchange Loss:
N/A
Ended:
Dec 17, 2014