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Shadi
Shadi is a 28-year-old single man form Khan Younis. He works as an employee with a low wage. He would like to complete his new home and be ready to get married. So he would like to buy some appliances like a refrigerator, washing machine and air conditioner. Shadi is requesting a $2150 Murabaha loan from FATEN to help him cover the cost of purchasing these new home appliances. Taking this loan will help Shadi to acquire all the necessary items for him and his future wife.
Shadi appears in the photo in a home appliance store.
FATEN offers loans that are customized for Muslim borrowers. A key principle of Islam is the prohibition of charging interest on a loan. This prohibition is based on the belief that money is only a medium of exchange and has no value in itself. In order to offer loans in a manner that is consistent with borrowers' values, FATEN charges 0% interest on this loan. However, FATEN does charge a servicing fee to cover its costs. The loan amount you see listed on Kiva 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 according to this loan’s repayment schedule.

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

  • $2,900
    Average annual income
  • 99
    View loans »
    Palestine Loans Fundraising
  • $10,982,675
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Shadi to buy home appliances.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 6, 2013
Listed
Apr 5, 2013
Currency Exchange Loss:
N/A
Ended:
May 17, 2015