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Total loan: $1,550
Jabalia-Gaza Strip, , Palestine / Retail
Flag of Palestine
Mahmoud's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To purchase mobile phone accessories and repair tools.
Mahmoud is a young man from Jabalia refugee camp. He comes from a big family; therefore, he had to start to work early. Three years ago he started learning how to fix mobile phones and now he has his own store, where he sells phones and accessories as well as fixing them. Mahmoud's work is prospering and he wants to increase his returns to help his parents. Mahmoud came to Kiva's partner, FATEN, and took out a loan to purchase mobile phones, accessories and needed repair tools. Mahmoud appears in the photo in his store. About Shariah-compliant lending: FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the culturA. context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising includes both the principA. loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.