Fatimah is a 50 year old married woman from Rafah city. She is a mother of one son and one daughter. Fatimah works as an employee in a local firm where she gets a low income. Her son also is a worker. He would like to buy a new rickshaw to work on. Fatimah took a USD loan from FATEN. This loan will help her to buy a new rickshaw for her son to work on. By taking this loan, the income for Fatimah and her family will be improved and also their 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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