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Majdi
Majdi is a 26 years old married man from Rafah city. He lives with his wife and a small daughter in a small simple house in the city. Majdi is a worker where he gets a low income. This is the only source of income to the family. Majdi and his wife would like to improve the family living conditions and buy all the needed stuff.

Majdi took a USD Murabaha loan from FATEN. This loan will help him to buy a solar system for heating water for his home. By taking this loan, Majdi will be able to provide a hot water for his family especially in the winter with less electricity costs and with using clean energy. Majdi 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.

Tags

About Palestine

  • $2,900
    Average annual income
  • 105
    View loans »
    Palestine Loans Fundraising
  • $10,881,475
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $1,500 helped Majdi to buy a solar system for heating water for his home.
66% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 14, 2013
Listed
Dec 2, 2013
Currency Exchange Loss:
N/A