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Alaa
Alaa is a 31-year-old married man from Rafah city. He lives with his wife and four kids, one boy and three girls, in a small house.

Alaa is an employee in the public sector where he earns a low income; this is the only source of income for the family. Alaa would like to improve his family's conditions by buying all of the necessary stuff.

Alaa took a USD Murabaha loan from FATEN. This loan will help him to buy a solar-powered water heating system for his home. By applying this loan, the family will reduce their electricity-use for heating water, especially in the winter. This will improve the family living conditions.

Alaa appears in the photo

Additional Information

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 FATEN

Palestinians 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.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Palestine

  • $2,900
    Average annual income
  • 33
    View loans »
    Palestine Loans Fundraising
  • $10,249,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $1,250 helped Alaa to buy a solar-powered water heating system for his home.
63% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 10, 2013
Listed
Nov 7, 2013
Currency Exchange Loss:
N/A