Khaled is requesting a USD Murabaha loan from FATEN to help him cover the costs of purchasing a new engine for the taxi he drives. This will increase the taxi's capacity to work extra hours and enable Khaled to take additional internal and external requests, which will improve the family's income positively.
Khaled 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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