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Mohammed is a 32-year-old married man. He has a Secondary school education. His neighbors have good things to say about him, and they describe him as a kind and hardworking man.

As the source of income for his family, Mohammed has sold groceries and food products since 2013. He started this business with small capital. In the beginning, Mohammed decided to begin his own business through opening a small grocery store in his area. Thanks to Mohammed's hard work, he has been able to develop and expand his merchandise. The profits from this business have allowed Mohammed to expand his sales volume. For the purpose of further developing his business, Mohammed turned to Al-Amal Microfinance Bank. He is requesting a loan to buy wholesale food items for future retail.

Mohammed plans to invest the earnings from the loan to further increase his business. He also intends to save money to perform a reconstruction of his house in the future. He wants to open a saving account in AMB.

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
  • 214.8
    Yemen Rials (YER) = $1 USD