A loan of $2,550 helped to purchase new home furniture.

Sa'ed's story

Sa'ed is a twenty-four-year-old young man. He is employed, but gets a low salary. Sa'ed is preparing to marry soon. His salary isn't enough to cover the wedding expenses as he wants to purchase bedroom furniture and living room furniture.

Sa'ed is requesting a loan from FATEN to help him cover the costs of purchasing the necessary home furniture to prepare a suitable home to live in with his wife. Sa'ed is photographed in the FATEN branch office.

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.

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