A loan of $1,275 helped to purchase new bedroom furniture.

Majed's story

Majed, who appears in the photo, is a 42-year-old married man and a father to four sons and two daughters. Majed is employed and earns a small salary, which is not enough to cover all the family's needs.

Majed is requesting a USD Murabaha loan from FATEN to help him cover the cost of purchasing new bedroom furniture in order to improve living conditions in his house. Taking out this loan will offer Majed 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

Lenders and lending teams

Loan details