A loan of $1,250 helped to purchase a new rickshaw.

Ramzi's story

Ramzi, a 35-year-old married father of three sons and two daughters, is a Palestinian National Authority employee who earns a decent salary. Ramzi wants to purchase a new rickshaw in order to work extra hours and increase the family income, but the amount of money he has isn't sufficient. He is therefore requesting a loan from FATEN, to be repaid monthly which, when combined with his savings, will enable Ramzi to make the purchase and help him to improve his family's living conditions.

About This Loan Product:

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 cultural 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 principal 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.

Loan details

Lenders and lending teams

Loan details