Haydar is a married Iraqi client who is 43 years old and has four children. Haydar is the sole provide of the family.
Haydar owns a shop where he sells clothes for women and children. He also sells shampoo, perfumes, hair gels and other cosmetics. He has been running this business since 2012 and is gradually gaining experience through practice. Haydar has an excellent reputation in the surrounding area, thanks to the variety of his offered good with good quality and affordable prices.
Haydar is applying for a loan of 3,000 USD. The aim of this loan is to pay the annual rent of his shop and to buy more clothes to sell. Haydar is aiming to continuously grow in this field so he may be able to keep providing his family but with better standards.
About CHF International Access to Credit Services Initiative
CHF International Access to Credit Services Initiative Iraq has played a significant role in the rehabilitation of the Iraqi economy. As the largest microfinance institution in Iraq, ACSI is well-positioned to provide quality financial services. When lending through CHF, please consider the following:
1. Due to social and political challenges in Iraq, personally identifiable attributes of this borrower may have been altered to protect their identity (i.e. blurring portions of the borrower's photo, anonymizing name and location, etc.). CHF appreciates Kiva lenders' understanding of these challenges and encourages lenders to continue their support for Iraqi borrowers.
2. To cater to more Iraqi borrowers, CHF offers loans that comply with Islamic law. A key principle of Islam is the prohibition of charging interest on a loan. In order to offer loans in a manner consistent with borrowers' values, CHF will charge 0% interest on this loan. However, the organization does charge a flat service fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and this additional fee. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule.
3. Please note that CHF has not been visited by any members of Kiva's staff. Due to ongoing security concerns, due diligence was conducted remotely. ACSI does, however, meet all of the minimum criteria for partnership with Kiva.
4. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a possibility that future loan repayments could be delayed for regulatory reasons, even if individual borrowers pay back their loans. When you make a loan through CHF, you assume this additional risk.