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Majd
Majd is a 26-year-old man living in Ibb, Yemen. He completed secondary school but was not able to proceed further with his studies due to the difficult living conditions he faced. He has been selling ice cream, and he has been operating this business for a few months by relying upon his savings. Because he is alone and has no one to support him, Majd has done his best to improve and expand his business in order to secure his future. He has gained many customers, and he is now inspired to expand his capital and income by purchasing more of the ice cream items demanded by his clients. To do this, Majd has taken a youth loan of 200,000 YER from AMB to purchase supplies for his ice cream business. He hopes that this loan will enable him to continue running his business successfully and make the business more profitable.

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
  • 25
    View loans »
    Yemen Loans Fundraising
  • $3,141,950
    Funds lent in using Kiva
  • 214.3
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Majd to purchase ice cream supplies for his business.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 7, 2013
Listed
Feb 17, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013