Hasan would like to buy a new engine for his car to improve its capacity and enable him to work more hours using it. For this reason, Hasan took a Murabaha loan from FATEN. This loan will help Hasan to cover the costs of buying a new engine. This will improve his car's condition and enable him to increase his income.
Hasan appears in the photo beside his taxi.
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 FATENPalestinians 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.
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