Walaa is a 26-year-old married woman from Rafah city. She lives with her husband and one daughter. Walaa's husband is an employee in the public sector where he gets a low income. This is the only source of income for the family. Walaa and her husband would like to improve the family's conditions by buying all the needed stuff. Walaa took a USD Murabaha loan from FATEN. This loan will help her to buy a water heating system that uses solar energy for her home. By applying for this loan, the family will reduce their use of electricity for heating water especially in the winter. This will improve the family's living conditions.
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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This loan has been fully funded!