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Azhar Group
In this Group: Azhar, Sahr, Naja, Safa
This group is called Azhar, and consists of four ladies who live in Aden, Yemen. They took out a loan of 190,000 YER from AMB.

Safa is 23 years old. She has been selling basic products like clothes, perfumes, incense, among other things. She has had the business for few years and has many customers who come to her because it is the best-stocked place in the neighborhood.

She needs to buy materials for her business but has no capital, so she is requesting a loan from AMB to allow her to buy clothes, perfumes, and incense among other things.

She hopes to expand her business to get more profit.

Additional Information

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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

Tags

About Yemen

  • $2,700
    Average annual income
  • 8
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 215.0
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Azhar Group's $900 loan helped a member to allow her to buy clothes, perfumes and incense, among other things.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 19, 2013
Listed
Oct 3, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014