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Sameer
Sameer is 36 years old, married and has four children between the ages of nine and two years. He and his family live in Hja, a small town in Yemen. He is a man with an elementary school education who is struggling to improve his family’s living conditions.


For more than four years Sameer has worked hard breeding sheep and goats, which has proved to be a profitable undertaking. He is applying for a loan of 98,000 YER through AMB to buy more of them to enlarge his flock.

Additional Information

More information about this loan

This loan is part of a joint program between Al Amal and the Social Welfare Fund in Yemen to reach the extreme poor who are dependent on grants from the state's Social Safety Net. Al Amal enables these borrowers to establish new enterprises and grow existing ones so they can boost their income and stop living on government funds. By funding this loan, you are empowering the extreme poor in Yemen to lift themselves out of poverty.

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.

Tags

About Yemen

  • $2,700
    Average annual income
  • 22
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.9
    Yemen Rials (YER) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $475 helped Sameer to buy more sheep and goats to breed.
25% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
May 25, 2014
Listed
Jun 6, 2014
Currency Exchange Loss:
Possible