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Hafez is a 29-year-old married man who has been living in Haja, Yemen. He earns a livelihood by being involved in a stationery business which has been in operation for many years.

His story began with his own initiative. He worked for his brother`s stationary then he was able to save an amount to establish his business. He did all of the work himself, with no set hours, and he had some difficulties to overcome.

In order to stabilize this business and compete against other entrepreneurs doing the same business, he needs sufficient funds to refill his stock of merchandise to continually operate his business smoothly. Consequently, He decided to take out a youth loan of 200,000 YER from AMB to purchase books, gifts, and other stationary items to maintain and satisfy his customers.

He hopes that he’ll develop his business successfully in the following years and be able to expand it and have it become larger.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

About Al-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.9
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Hafez to purchase books, gifts, and other stationary items to maintain and satisfy his customers.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Sep 5, 2013
Sep 22, 2013
Currency Exchange Loss:
Apr 16, 2014