Funded

Total loan: $2,525
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Ibraheem

Palestine
Palestine / Home Appliances

A loan of $2,525 helped to purchase a refrigerator, washing machine and oven for his house.


Ibraheem's story

Ibraheem is a 29-year-old young man. He is married and a father to one son and two daughters. Ibraheem is employed and gets a low salary which is not enough to cover all the family's needs.

Ibraheem wants to improve his family’s living conditions. He is requesting a USD Murabaha loan from FATEN to complete the price of purchasing necessary home appliances such as a refrigerator, washing machine and oven.

Taking this loan will enable Ibraheem and his family to live in an easy way in their house and improve their living conditions.

Ibraheem is shown in the picture.

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

Loan length:

27 months
Disbursed date: December 10, 2012
Facilitated by Field Partner: Palestine for Credit & Development (FATEN)

Lenders and lending teams



Loan details

Loan length:

27 months
Disbursed date: December 10, 2012
Facilitated by Field Partner: Palestine for Credit & Development (FATEN)