Tahseen requested a Murabaha loan from FATEN in order to buy a water purification machine for his home. The loan will allow Tahseen to provide clean water for his family. He is glad that he and his wife will have access to clean water, but is even happier to be able to offer this benefit to his children.
In the future, he would like to improve his family's living conditions and be able to afford the items required to meet their basic needs.
More information about this loan
This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, FATEN is charging 0% interest on this loan. This is a Murabaha loan, which means that FATEN 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 FATENPalestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.
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