A loan of $1,900 helped to purchase an engine for his taxi.

Rami's story

Rami is a 29-year-old young man who is married with three sons and two daughters. He is employed and earns a low salary that is not enough to cover his family's cost of living. For the past three years, Rami has also been also driving a taxi and this has been a profitable project that provides a second source of income for his family. He is photographed here next to his taxi.

Rami is requesting a loan from FATEN to help cover the costs of purchasing a new engine for the taxi he drives. His loan will increase his taxi's capacity to work extra hours and enable him to take on additional service requests which will improve his family's income.

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 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