A loan of $2,525 helped to buy some necessary home appliances for the family.

Reyad's story

Reyad is a 51 year old married man. He lives with his wife and four sons in Rafah city located in Gaza Strip. Reyad is employed and gets a low salary, which is not enough to cover all the family's needs. The family now is in need of some necessary home appliances such as a stove and washing machine.

Reyad took a loan from FATEN to buy these home appliances. This loan will help the family to cover part of the necessary expenses.

Reyad appears in the photo.

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