A loan of $1,450 helped to buy needed stock of basic grocery items, such as rice, sugar, and milk.

Naser's story

Naser, age 37, has operated a grocery store business for the past two years. It has been a profitable project and serves as the only source of income for the family, but it needs more support to cover some necessary costs. For this purpose, Naser is requesting a Murabaha loan from FATEN to help him cover the costs of purchasing needed stock of basic groceries that customers often request, such as rice, sugar, and milk. This will increase sales and increase Naser's income.

Naser lives with his wife and four children in Gaza city.

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