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Moain
Moain is a young man of 28 years. He is living in Sana'a and married. Moain's main business is a stationary store based in Sana'a. He gained access to financial services to help improve his living situation and his business activities. He is very friendly and has already gained some permanent customers. Due to the current bad situation which Yemen has met, however, his business has had lower profits and fewer customers. So, he requested a loan of 200,000 YER from AMB to buy additional stationery materials and use as working capital to increase his sales since this type of product is very popular. He plans to use the additional revenue generated from the business to supplement the family's income.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

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.

About Yemen

  • $2,700
    Average annual income
  • 4
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.8
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Moain to buy additional inventory for his stationery business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 2, 2013
Listed
Oct 9, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014