Ayesh was a worker with a very low wage. He decided to start his own project. For the past seven years, Ayesh opened a small workshop for repairing refrigerators. It is a profitable job and he is a well known man in his area. Ayesh would like to improve his workshop.
Ayesh took a USD Murabha loan from FATEN. This loan will help him to buy more repair pieces for refrigerators. This will increase his productivity and also his income. Ayesh appears in the photo in his workshop.
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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Success!! The loan was 100% repaid