Bushra, who appears in the picture, is a 37-year-old married woman who lives in Haja, Yemen. She studied at the university. She works hard to provide her family.
She faces a bad situation, and her income doesn`t cover her family`s expenses. Sometimes she goes to her neighbors to keep her food and soft drinks in their fridge, lacking the money to buy her own fridge. So she is requesting a loan of YER 100,000 from AMB that she will use to help pay for a fridge to keep her foods and soft drinks.
She hopes to own retail shop to increase her profit. This will ensure a better future and improve her living conditions.
About Al-Amal Microfinance Bank
Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:
1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.
2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.
Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.