Borama Group2’s story
Hasan is 31 years old and lives in Borama town. He has four children. Hasan is a contractor who builds houses for the public in Borama.
He needs building materials, such as skeleton constructions, in order to build more houses and get more income when he has his required goods and built houses.
He is the leader of a group known as Borama Group2, which consists of 11 members, nine males and two females. All of the group members have existing different businesses, and they need to expand their medium and small businesses. They will pay monthly repayments.
Hasan requested a loan of $1,100 from Kaaba Micro finance Institution to purchase building materials.
In this group: Hassan, Abdiwasac, Asha, Khadra, Awaale, Mohamud , Abdilaahi, Ali, Ahmed , Farxan , Ali
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This loan is special because:
More about this loan
Kaaba has developed loan products in alignment with the cultural context in the primarily Muslim area it serves. To avoid charging interest — which is opposed to Islamic law — the organization purchases assets for its borrowers and sells them at a slight markup ranging between 2% and 12%, proportional to the term of the loan.