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Fuad is 34 years old and lives in Taiz, Yemen. He is a hard-working man who strives to offer his family a good life.

He has been operating a home appliances business for more than five years. He started his business from his personal capital. It is the main source of his income. Many people prefer his store because he always has the basic staples at accessible prices, and he provides the best possible customer service. His dream is to see his store flourish.

Due to the current bad situation in Yemen, he has less profit from his enterprise. So he took a loan of YER 200,000 from AMB to stock his business with more home appliance products so his customers will always find what they need and keep coming back.

Additional Information

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
  • $3,229,175
    Funds lent in using Kiva
  • 214.9
    Yemen Rials (YER) = $1 USD