Total loan: $1,200
, , Palestine / Housing
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Saqer's loan finished fundraising,
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A loan helped To purchase new bedroom furniture for his children.
Saqer is a 33-year-old young man. He is a father with two sons and two daughters. Saqer is employed, but gets a low salary that is not enough to cover the family's costs. Saqer is requesting a loan from FATEN to help him cover the costs of purchasing new bedroom furniture for his children as his family members need to feel more comfortable at home. This loan will create better living conditions for the family. Saqer is photographed in the picture. About this loan product: FATEN offers loans that are customized for Muslim borrowers. A key principle of Islam is the prohibition of charging interest on a loan. This prohibition is based on the belief that money is only a medium of exchange and has no value in itself. In order to offer loans in a manner that is consistent with borrowers' values, FATEN charges 0% interest on this loan. However, FATEN does charge a servicing fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.