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Al-Asdqa Group
In this Group: Aisha, Jamila, Rania, Ahlam
Al-Asdqa is a group which is comprised of four women. They are from Haja, Yemen and work together to be able to help one another. They work to improve their families’ quality of life. Currently they are requesting a loan of 150,000 YER from AMB in order to increase their business levels. Aisha is the leader of the group. She is a 26-year-old single woman. She is a student at a technical institute, where she puts forth the effort necessary to be successful in life. She intends to use her portion of the loan to buy items for her home. She is requesting a youth loan of 30,000 YER to buy a kitchen cupboard for her house. In the future, she would like to own a business store to help her family.

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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Yemen

  • $2,700
    Average annual income
  • 5
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.1
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Al-Asdqa Group's $725 loan helped a member to buy a kitchen cupboard.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2013
Listed
Feb 6, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013