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Sadik
Sadik is a 22-year-old married man with one child who is 6 months old. He lives in a simple family in Taiz, Yemen. Sadik studied until elementary school, but he couldn't complete his studies because he got married when he was very young. Sadik started his business 6 years ago. He started in a small shop in his area selling the necessary goods such as milk, drinks, cakes, flour, salt, and many kinds of food. Little by little, his business expanded more and more. Recently, he earns good profits from this business. Sadik thinks that his business goes very well because he is very kind and he loves what he does. He could expand his small shop to a grocery if he has a refrigerator. Unfortunately, this grocery lacks a refrigerator. For this reason, Sadik is requesting a loan of 200,000 YER from AMB in order to purchase a refrigerator for the grocery.

Sadik looks forward to becoming a wholesale dealer. He hopes to provide his family with a lot of money.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

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

  • $2,700
    Average annual income
  • 3
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.8
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Sadik to purchase a refrigerator for the grocery.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2014
Listed
Apr 29, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015