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Mansour is a 26-year-old married man with three children. His oldest child is 4-years-old and the youngest one is 1-year-old. He lives with his family in their own house in Sana'a. He is an active and vigorous baker. For four years, he has been baking breads and cakes in his bakery. This business is the only source of income for the family. Mansour's bakery is famous for its delicious breads and cakes and you can always buy hot, fresh bread from his store. This is why he always has a lot of customers. Mansour wants to expand his business. He wants to buy equipment to purchase a large amount of flour in order to expand his business more. In order to accomplish this goal, Mansour requested a loan of 300,000 YER from AMB which he plans to use to buy a large amount of flour.

Mansour hopes to improve the condition of his family. He hopes to renovate his house from the inside. Also, he plans to purchase dough equipment in order to improve his work more.

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.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.9
    Yemen Rials (YER) = $1 USD