Check out some available loans that are similar to this one!
Nathir is a 50-year-old married man and a father of five children. His oldest child is 25 years old and the youngest one is 10 years old. Nathir lives with his family in their own house. He studied in Elementary School, but he couldn't complete his studies. He is a very dynamic and vigorous man. Before the age of 30, Nathir was able to accumulate a good amount of money and purchase a piece of land. His wife supported him with a lot of her own money.

Nathir is the sole breadwinner of the family and his income is enough to cover all the expenses of the family, but it is not enough to renovate their house and to expand it. Over time, he built the house on the land that he bought, but now it needs renovating from the inside. As a result, Nathir is requesting a loan of 100,000YER from AMB. He will use the loan to purchase construction materials such as cement and paint in order to renovate the house.

He looks forward to purchasing another piece of land and building a house on that land in order to rent it. He hopes to send his children to a private school.

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

Success!! The loan was 100% repaid

A loan of $475 helped Nathir to purchase construction materials such as cement and paint in order to renovate the house from the inside.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
May 18, 2014
May 29, 2014
Currency Exchange Loss:
Jun 25, 2015