Haydar is an Iraqi married client, who is 44 years old and has four children. Haydar and two of his children provide the family income, together. Haydar owns a small shop, where he sells birds and pigeons. Since his childhood, Haydar had a special interest in and love for birds. It became his favorite hobby, to know about birds and learn how to feed and breed them. After learning all he needed about birds, in 2001 Haydar turned his hobby into his business. Now Haydar is being very well-known in his surrounding area and has gained the respect of his neighborhood.
Haydar is requesting a loan of $3,000. He will use this loan to pay the annual rent of his shop, as well as to renovate it. Haydar aims to grow his business and increase his profits, so he may be able to provide for all the needs of his family.
About CHF International Access to Credit Services Initiative
CHF International Access to Credit Services Initiative Iraq has played a significant role in the rehabilitation of the Iraqi economy. As the largest microfinance institution in Iraq, ACSI is well-positioned to provide quality financial services. When lending through CHF, please consider the following:
1. Due to social and political challenges in Iraq, personally identifiable attributes of this borrower may have been altered to protect their identity (i.e. blurring portions of the borrower's photo, anonymizing name and location, etc.). CHF appreciates Kiva lenders' understanding of these challenges and encourages lenders to continue their support for Iraqi borrowers.
2. To cater to more Iraqi borrowers, CHF offers loans that comply with Islamic law. A key principle of Islam is the prohibition of charging interest on a loan. In order to offer loans in a manner consistent with borrowers' values, CHF will charge 0% interest on this loan. However, the organization does charge a flat service fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and this additional fee. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule.
3. Please note that CHF has not been visited by any members of Kiva's staff. Due to ongoing security concerns, due diligence was conducted remotely. ACSI does, however, meet all of the minimum criteria for partnership with Kiva.
4. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a possibility that future loan repayments could be delayed for regulatory reasons, even if individual borrowers pay back their loans. When you make a loan through CHF, you assume this additional risk.