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Mohammed is a 39-year-old man who lives in Old Sana'a, Yemen. He is the father of three young children. He received higher education long ago but could not continue his studies as he was busy helping his father in his trade of traditional jambia (a short dagger worn on a belt).

Mohammed learned the trade from his father, who inherited it from his ancestors. Like his ancestors, Mohammed is totally dependent on the income from this business to feed his family and to cover their living expenses.

Mohammed took a loan of 100,000 YER from Al-Amal Microfinance Bank in order to purchase some materials related to his business as well as some ready-made traditional belts. This loan will help Mohammed to meet the demand of his clientele in providing the types of traditional belts they require.

In the future, Mohammed plans to rebuild his old house and enroll his youngest son in a private school. Unlike his father, Mohammed doesn't like his sons to learn his trade because he wants them to complete their higher education in the future.

Additional Information

About Al-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.3
    Yemen Rials (YER) = $1 USD