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Al- Irtika'a Group
In this Group: Mona, Najwa, Aisha, Mariem
Al-Irtika'a is a group consisting of four women living in Sana'a, Yemen. They have applied for a loan in the amount of 200,000 YER from AMB.

Aisha, age 39, is the leader of this group. She lives with her husband and family in a very old house that is in need of essential repairs. She is a homemaker, and her husband is the only breadwinner for the family. Most of what he earns goes to the expenses of the family and there is nothing left over for the house repairs. Aisha has therefore applied for a loan in the amount of 50,000 YER from AMB. This will allow her to purchase bricks and other construction supplies.

In addition to repairs, Aisha hopes to renovate the house. Her goal is to complete the second floor of the house and move the family into it, which will allow her to rent the first floor to tenants. This will generate additional income and provide her family with better living conditions.

Additional Information

More information about this loan

This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, Al-Amal is charging 0% interest on this loan. This is a Murabaha loan, which means that Al-Amal 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 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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,229,175
    Funds lent in using Kiva
  • 214.8
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Al- Irtika'a Group's $950 loan helped a member to buy bricks and other construction supplies for house repairs and renovation.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Feb 26, 2014
Mar 24, 2014
Currency Exchange Loss:
Dec 17, 2014