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Abdulbaqy is a 35-year-old married man who lives in Taiz, Yemen with his family. He makes a living managing his restaurant, where he offers a variety of food. He is a very successful entrepreneur and skilled person who has ten years' experience in this business and has some regular customers who give excellent references.

His biggest dream is to improve his and his family's quality of life. Day by day, he thinks of ways to make his business grow, as it is his main source of income and this is the only way he can improve his and his family's living conditions.

Because of this, he has made the decision to request a loan of 200,000 Yemeni Rials (YER) from Al-Amal Microfinance Bank to invest in his business by buying food products, such as eggs, rice, beans, flour, oil and soft drinks. He fully trusts in God and that his work will produce favorable results in order to fulfill his dream.

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

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.6
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Abdulbaqy to invest in his business by buying food products, such as eggs, rice, beans, flour, oil and soft drinks.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Mar 3, 2013
Apr 4, 2013
Currency Exchange Loss:
Dec 17, 2013