A loan of $2,525 helped to complete the price of purchasing the taxi.

Yaqoub's story

Yaqoub is a 39-year-old, married man. He is a father to two sons and one daughter. He is employed and gets a low salary, which is not enough to cover the family's needs.

For the past three years, Yaqoub has been driving a taxi, which has been a profitable project and a good second source of income for the family. Yaqoub wants to own a taxi, to improve his earnings. Therefore he is requesting a USD Murabaha loan from FATEN, to help him cover the price of purchasing a new taxi. Owning the taxi will enable Yaqoub to work extra hours and to accept additional internal and external requests, which will improve the family's income positively. Yaqoub 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 fee. 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