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Amjd
Amjd is a 30-year-old married man with two children. He is an educated person, living in a poor area in Sana`a, Yemen. He is a traffic policeman who serves his country and receives a low salary. His house is very old and in a miserable situation. The house is vulnerable to fall down at any time. It is known that house renovation needs a lot of money. He has started renovating his house but now he is short of money. He needs to complete the renovation task, so he asked for a youth loan of 199,999.92 YER to buy cement and bricks. He hopes that after completing the house renovation, he can start to accumulate money to improve the living conditions of his family and open a saving account.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Yemen

  • $2,700
    Average annual income
  • 7
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.6
    Yemen Rials (YER) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $950 helped Amjd to buy cement and bricks to renovate his house.
95% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 24, 2013
Listed
Mar 26, 2013
Currency Exchange Loss:
Possible