Funded

Total loan: $1,900
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Saeed

Palestine
Jabalia, Gaza, Palestine / Personal Purchases

A loan of $1,900 helped to buy new living room and bedroom furniture.


Saeed's story

Saeed who appears in the photo, is a 29-year-old married young man and a father to two sons and two daughters. Saeed is employed in a local university and earns small salary, which is almost enough to cover the family's needs.

Saeed is requesting a USD Murabaha loan from FATEN to help him cover the cost of purchasing new living room furniture and bedroom furniture in order to improve living conditions in his house. Taking this loan will offer Saeed and his family comfortable furniture so they can enjoy living in their house.

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

Loan length:

27 months
Disbursed date: March 25, 2013
Facilitated by Field Partner: Palestine for Credit & Development (FATEN)

Lenders and lending teams



Loan details

Loan length:

27 months
Disbursed date: March 25, 2013
Facilitated by Field Partner: Palestine for Credit & Development (FATEN)