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Sameer
Sameer is a 49-year-old married man from Gaza city. He is a father with eight children. Sameer works as a worker with a very low wage that barely covers the family's needs.

Sameer would like to improve his family's living conditions by completing his new home and live in it with his family. Sameer took a USD Murabaha loan from FATEN. This loan will help Sameer to buy more construction materials and complete his new home.

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. For more information on lending in the Muslim world, please click here.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Palestine

  • $2,900
    Average annual income
  • 20
    View loans »
    Palestine Loans Fundraising
  • $10,278,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $2,675 helped Sameer to buy construction materials to complete his home.
67% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 7, 2013
Listed
May 30, 2013
Currency Exchange Loss:
N/A