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Morad is 32 years old and a married man. He lives in Taiz, Yemen. He runs an iron welding workshop to earn a living. He started working six years ago as an employee earning a daily wage with someone who has the same business. Then he worked hard to save money until he was able to open his own welding workshop. Morad's business has gradually grown, thanks to his great work capacity, discipline, and responsibility. He is able to attract his customers because he is a professional at making different shapes of doors and windows in iron.

Presently Morad is applying for a loan of 100,000 YER from AMB to buy various iron items, which will allow him to expand his business. His investment will be successful because he has a lot of experience. In the future, Morad hopes to expand his business to in order to improve his living conditions.

Additional Information

More information about this loan

This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, Al-Amal is charging 0% interest on this loan. This is a Murabaha loan, which means that Al-Amal 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 Al-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.9
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Morad to buy various iron items which will allow him to expand his business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Feb 17, 2014
Feb 17, 2014
Currency Exchange Loss:
Feb 17, 2015