Nahed is a young mother of two daughters and two sons. She lives in Jabalia Refugee Camp in Gaza Strip- Palestine. Nahed's husband is a taxi driver, His car needed maintenance as he had a minor accident and needed to polish, plaster and paint it. Nahed's husband needed a loan to cover the expenses he didn't expect. Nahed took out the loan from FATEN and helped her husband cover the expenses he needed to keep going with his job.
Nahed is a conservative woman, as are most of Gaza inhabitants. Therefore, her husband is photographed next to his car.
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
Palestinians 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.