Ikhlas is a 21-year-old married woman from Beit Lahia near Jabalia city. Her husband works in a bakery he owns. It has been working for two years. His bakery is very profitable but needs to be improved because he still works with a very old oven and machines.
Ikhlas took a loan from FATEN. This loan will help Ikhlas's husband to buy a new dough-making machine and wood for the oven. This will improve his business and make it more profitable.
More information about this loan
This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, FATEN is charging 0% interest on this loan. This is a Murabaha loan, which means that FATEN purchases goods for borrowers and charges a fee or mark-up. Click here to learn more about this loan type and Kiva's approach to lending in the Islamic world.
About FATENPalestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.
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Success!! The loan was 100% repaid