A loan of $1,275 helped to complete the price of purchasing a new rickshaw.

Mostafa's story

Mostafa is a 22-year-old single man. He is a rickshaw driver with a low salary which is the only source of income for him. It is not enough to cover his costs of living.

Mostafa wants to improve his income and his standard of living by purchasing his own rickshaw. He is requesting a USD loan from FATEN to help him cover the costs of purchasing a new rickshaw to use for transporting goods from one area to another on customers' requests. This will increase Mostafa's capacity to work extra hours and enable him to take on additional internal requests, which will improve his income and ensure him a better future.

Mostafa is photographed next to the rickshaw he will buy.

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