As'ad is an employee in the public sector and he gets a low income which is not enough to cover all the family needs. For the past three years, As'ad has opened a small store in the city where he sells women's clothes to help him to increase the family income. It is a good business and he earns a good income, but the store needs more money to be improved.
As'ad took out a USD Murabaha loan from FATEN. This loan will help him to buy more products for his clothes store for a very good price, which will improve his store and also his income.
As'ad appears in the photo.
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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