A loan of $1,900 helped to buy a new collection of men's clothes to sell in his store.


Wajeeh's story

Wajeeh is a 25-year-old, married man from Gaza city. He lives in a small house, with his wife and a little male son. Wajeeh has owned a men's clothing store, since five years ago. It is a very successful store, because of the good-quality products and its location in a good commercial area in Gaza. But this store needs some support to increase the quantity of the inventory. Wajeeh took a US Dollar, Murabaha loan from FATEN. This loan will help Wajeeh to purchase a new collection of clothes, which will increase the stock in the clothing store so the revenue will increase. Wajeeh had his picture taken in his store.

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