A loan of $1,275 helped to purchase a new vehicle to begin a transportation business.


Abdulrahman's story

AbdulRahman is a 27-year-old married young man who has two sons and one daughter. He is employed and earns small salary which is not enough to cover his family's needs. AbdulRahman is thinking of a way to raise his income in order to improve his family's living conditions and he is starting a transportation company. He is photographed next to his new rickshaw.

AbdulRahman is requesting a USD Murabaha loan from FATEN to help purchase a new vehicle to begin a transportation business. His loan will offer him another source of income to help him provide 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.



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Loan details