Ikhlas is a 20-year-old married woman from Jabalia city. She lives with her husband in a very simple and old house. Ikhlas works as a teacher in a public school. She gets a very low wage. Her husband is also working in a small grocery store he owns; it has been open for two years. He always wants to improve his business.
Ikhlas took a USD Murabha loan from FATEN. This loan will help her husband to improve his grocery store and buy all the needed stock that customers often demand. This will improve his business and also his income
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