A loan of $1,900 helped to buy a new collection of mobile phones and accessories.

Raed's story

Raed is pictured inside his store.

Raed is a 25-year-old single young man. For the past four years, he has been operating a mobile phone store, selling different types of mobile phones and accessories to customers. His project is well known in the market and has a lot of loyal customers. It has been profitable and is the only source of income for Raed, but it needs more liquidity to cover some necessary costs.

Raed is requesting a shariah-compliant Murabaha loan from FATEN to cover the cost of purchasing a new collection of mobile phones and accessories. This will attract more new customers and satisfy his loyal ones, increasing his sales and improving his 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