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Altayr Group
In this Group: Antsar, Ali, Suad, Ghzal
This group, called Altayr, consists of four members, three of whom are female: The females are Ghzal, Antsar and Suad, who is the group leader. The one male is Ali. They are from Taiz, Yemen, and they know each other very well as they have lived in the same area for a long time. They have different businesses. They have requested a loan of 150,000 YER. Suad is a 45-year-old married woman who has an adult child. She is the woman who wears glasses. She is a seamstress who sews ladies' clothes for neighborhood clients. She started on her own business 20 years ago. She is very skillful in her work and receives regular orders every month. It is her main source of income. Currently Suad is asking for a loan of 30,000 YER from AMB to buy a new sewing machine. This will help her complete client orders on time and increase her profits. With her current machine, she is unable to finish orders on time. She would like to own a house in order to live a good life with her son.

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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,229,175
    Funds lent in using Kiva
  • 214.0
    Yemen Rials (YER) = $1 USD