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Yasser
Yasser is a 42-year-old, married man and a father to two sons and two daughters. His wife is employed, but the low salary she gets is barely enough to cover some of the family's needs.

For the past 12 years, Yasser has been operating his store. He is specializing in selling different types of plastics that customers request and buy for their home use.

Yasser is requesting a USD Murabaha loan from Palestine for Credit & Development (FATEN) to cover the cost of purchasing more plastics for his store. Taking this loan will increase sales and improve Yasser's income positively, so he could live with his family in better conditions. Yasser is photographed in his store.

About Shariah-compliant lending:
FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself.

FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see in fundraising includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you in accordance with the repayment schedule attached to this loan.

For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.

Additional Information

More information about this loan

This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, FATEN is charging 0% interest on this loan. This is a Murabaha loan, which means that FATEN 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 FATEN

Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.

About Palestine

  • $4,900
    Average annual income
  • 63
    View loans »
    Palestine Loans Fundraising
  • $11,428,525
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Yasser to purchase plastics to sell.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Feb 25, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 19, 2014