Khaled and his family were in need of a new refrigerator in their house, especially in summer season, so he took a Murabaha loan from FATEN to help him cover the cost. This loan will impact Khaled's family's living condition positively. Khaled's photo was taken in front of the refrigerator he has bought.
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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