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Sami
Sami, age and 18 and unmarried, opened his cosmetics and accessories store two years ago. His start-up capital came from money he had accumulated from his previous job and the help of his mother. He helped his father and uncle paint houses while he was still a student. Sami is from Sana'a and is a secondary school graduate. He is a very hard-working young man.

Sami would like to buy more products that are in high customer demand, so he has applied for a youth loan in the amount of 100.000 YER from AMB.

Sami hopes to earn a considerable profit, which he intends to put into savings so that he can eventually have enough to go to university, take the TOEFL test, and get married.

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
  • 26
    View loans »
    Yemen Loans Fundraising
  • $3,208,400
    Funds lent in using Kiva
  • 214.7
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Sami to purchase cosmetics, accessories, and other products to offer for sale in his store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 6, 2013
Listed
Jan 20, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014