A loan of $2,525 helped to purchase his own taxi.

Osama's story

Osama, who is photographed next to his taxi, is a 34-year-old married man and a father of two sons and two daughters. Osama lives a modest life with his family in the Jabalia area located in Gaza City. He is employed, but earns a low salary which is not enough to cover all of his costs and provide for his family's needs.

Osama has also been a taxi driver for the past three months. He wants to have his own taxi in order to work on his own project. It is a step to increase his income and provide his family with better living conditions.

Osama is requesting a USD Murabaha loan from FATEN to purchase his own taxi. This will help Osama to feel free to work extra hours and take more internal and external requests, which will lead to an increase in his income and better living conditions for his family.

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