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Atef
Atef is a 28-year-old single man who lives in Hodeidah, Yemen. He only completed secondary school. He has been operating a bike spare parts shop that has been running for many years. It is the only source of income for the family. He has worked very hard to get ahead in his life. He started his business by repairing motorbikes, and then he started to establish his business and improve his living conditions.

He has attracted more customers because his business is located in a strategic area and because of the strength of mind which he has enjoyed. Due to the current bad situation in Yemen, he has less profit from his enterprise, and so he took out a youth loan of 150,000 YER from AMB in order to supply his business with more spare parts and keep his customers coming back.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

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

  • $2,700
    Average annual income
  • 31
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 215.5
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Atef to buy bike spare parts for his business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2012
Listed
Dec 26, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014