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Kamal
Kamal, 25, lives with his relative in Sana`a, Yemen. He works in the grocery and food-selling business, where he has been the proprietor of a business for more than two years.



Kamal began his enterprise with his own capital, money that he had saved with much effort and hard work. He feels very good because this business generates daily earnings for him as he sells his products in the community where he lives. One of his expectations is to expand his business.



Kamal wants to stock more food products and improve his sales; the additional earnings will allow him to continue investing in his business to enable it to grow. He is therefore requesting a youth loan of 200,000 YER from AMB to buy rice, sugar, oil, soap, soft drinks, etc.

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
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.5
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Kamal to buy rice, sugar, oil, soap, soft drinks, etc. for his business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 8, 2013
Listed
Apr 16, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014