Yaser opened his shop some years ago, and at present it is a very simple shop. It needs a good deal of development and support in order to bring it up to speed. He would like to add new products and expand his business. He has therefore applied for a Murabaha loan from FATEN. He will use his loan funds to buy a variety of products to offer for sale.
He will use his expected profits to improve his business, to help support his family, and eventually to prepare a home in which to live with his future wife.
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