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Al- Sedk Wal- Amana Group
In this Group: Huda, Somia, Amat, Nabela
Al- Sedk Wal-Amana is a group comprised of four women who live in Sana'a, Yemen. They have applied for a loan of 140,000 YER from AMB.

Nabela is the leader of the group, a 41-year-old married woman living with her children in their own house in the capital city of Sana'a. She is a very active and dynamic woman who works as a housewife, while her husband is the sole breadwinner of the family.

Most people purchase many kinds of foods for their houses during the holy month of Ramadhan, to be consumed during the fasting breaks. The people fast during the day, and they need delicious and good food for their break in the evening. For this reason, Nabela will use her portion of the loan 40,000 YER from AMB to purchase the appropriate foods.

Nabela looks forward to building the second floor of her house and renting the first floor in order to improve the living conditions of the family. She hopes to open a saving account with AMB.

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
  • $3,225,150
    Funds lent in using Kiva
  • 214.9
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A portion of Al- Sedk Wal- Amana Group's $675 loan helped a member to purchase food materials for all the needs of the house through Ramadan month.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Jul 8, 2014
Aug 10, 2014
Currency Exchange Loss:
Dec 19, 2014