A loan of $1,525 helped to purchase some necessary spare parts for his taxi.


Mahmoud's story

Mahmoud is a 27-year-old single man. For the past five years, Mahmoud has been driving a taxi, which has been a profitable project and the only source of income for him, but also it needs more support to cover costs. Mahmoud is requesting a loan from FATEN to help him cover the costs of purchasing some necessary spare parts for the taxi he drives, such as mirrors, lights and wheels. This will increase the taxi's capacity to work extra hours and enable Mahmoud to take additional internal and external requests, which will improve his income positively and ensure to him better future. Mahmoud is photographed next to his taxi.

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.



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