A loan of $1,225 helped to purchase a new engine for his taxi.


Ahmad's story

Ahmad is a 33-year-old man. He is married and the father of two sons. For the past four months, Ahmad has been driving a taxi which has been a profitable business and the only source of income for his family. He needs support to cover some costs. Ahmad is requesting a USD Murabaha loan from FATEN to help him cover the cost of purchasing a new engine for the taxi he drives. This will increase his capacity to work extra hours and enable Ahmad to take on additional internal and external requests which will improve his family's income. Ahmad 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 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


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Loan details