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Iman is a 22-year-old single young man. Iman has a secondary school education. Because of the miserable condition of his family, he could not complete his studies. He was employed with his secondary school certificate as a soldier in the Yemeni army three years ago. His salary was very small and from this salary, he accumulated a good amount of money and opened a small grocery in his area. His neighbors have good things to say about him. They describe him as a kind and hardworking man.

As the source of income for his family, Iman has sold groceries and food products since 2012. He started this business with a small capital. Thanks to Iman hard work, he has been able to develop and expand his merchandise. The profits from this business have allowed him to expand his sales volume. For the purpose of further developing in his business, Iman turned to Al-Amal Microfinance Bank. He is requesting a loan of 200,000 YER to buy wholesale food items for future retail.

Iman plans to invest the earnings from the loan to further increase his business. He also intends to expand his business through opening other branches beside the first one.

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
  • 214.8
    Yemen Rials (YER) = $1 USD