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Adel
Adel is a 42-year-old married man. He has four children who all live all in Sana`a, Yemen. His children are studying in school. He dreams to see his children grow up well. Adel is a teacher who is described as a kindly man for his students. He intends to buy home appliances for his house, but the amount he has is not enough to buy what he needs. So he has applied for a loan of 300,000 YER from AMB to buy a fridge, washing machine and television, etc. Adel dreams of studying for a master's in his specialization and improve his living standards.

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

  • $2,700
    Average annual income
  • 29
    View loans »
    Yemen Loans Fundraising
  • $3,141,950
    Funds lent in using Kiva
  • 214.7
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Adel to buy a fridge, washing machine and television, etc.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 16, 2013
Listed
Feb 1, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014