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
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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