Shler is a 48-year-old Iraqi woman. She is married and the mother of three children. With limited career options due to cultural restrictions and domestic constraints, Shler is one of the many Iraqi woman who is working from home, using her sewing skills to generate some income and to help meet the financial needs of her family.
Shler has two years of experience with her small home-based sewing and tailoring business, creating custom dresses and small household items made of fabric.
In the past, Shler took out a loan from Relief International Microfinance Iraq, which she used to replace the old doors and windows of her house. Having successfully repaid the previous loan, Shler is taking out a new loan in the amount of $3,000, which she would like to use to renovate her work space and improve her working conditions.
Because of the political and social challenges of lending in Iraq, personally identifiable information about this borrower has been altered for her protection. RI-Iraq appreciates the Kiva lenders' consideration of these challenges and encourages the lenders to continue their support for Iraqi borrowers.
About Relief International Iraq
Relief International (RI) is a non-profit non-sectarian organization with a multifaceted approach to working in post-conflict, vulnerable and transitional countries. As part of its core mission to bridge emergency relief with long-term development though sustainable, enterprise-oriented solutions, RI directs a broad microfinance portfolio in the Middle East and South Asia. In Iraq, RI microfinance has been providing access to capital for micro, small and medium enterprises since 2006. When lending through RI, there are several points to consider:
1. RI-Iraq offers loans that are customized for borrowers in Iraq, a predominantly Muslim country. A key principle of Islam is the prohibition of charging interest on a loan. This prohibition is based on the belief that money is only a medium of exchange and has no value in itself. In order to offer loans in a manner consistent with borrowers' values, RI-Iraq charges 0% interest on this loan. However, RI-Iraq does charge a servicing fee to cover its costs. The loan amount you see listed on Kiva 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 according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.
2. Because of on-going security concerns, due diligence on RI-Iraq was conducted remotely, rather than in-person as is typical with most Kiva Field Partners. RI-Iraq does, however, meet all of the other minimum criteria required by Kiva's full due diligence.
3. One of the challenges of lending to entrepreneurs in Iraq is the increased chance of difficulty transferring funds between the United States, where Kiva is based, and Iraq. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a chance that we may encounter problems doing so in the future. This could result in difficulty repaying loan funds to lenders, even if individual borrowers have paid back their loans. As a lender to borrowers in Iraq, you would be taking on this additional risk.