What are Sana’a Microfinance Program (Azal)’s services?
Financial Services to all kind of small and micro-activities in all fields i.e service, industry, trade and agricultural sector. It provides other non-financial services like Takaful, training and other kinds of relevant and business support advisories.
Who are these services for? And what are the targeted activities exactly?
These services target the low-income individuals and households, notably those of existing micro-small projects and have skills and expertise willing to initiate startups through relevant Islamic financing technique i.e Murabaha. There are many activities and some of them, electronics, second-hand equipment’s, pharmacies, accessories’ shops, barbers’ shops, photography shops, graphic design offices, honey shops, frankincense, textile and tailoring, fashion design, coiffeur, frankincense manufacturing, bakeries, mobile maintenance workshops, bookshops, Puncture workshops…etc.
What are the loans’ guarantees?
The needed guarantees are easy for our customers to provide i.e Solidarity Guarantee – for the Solidarity loan-, Gold deposit, Bank guarantee, Monthly Salary and Pension.
What is the Solidarity Loan?
It is a loan targets Yemeni groups collectively (3-10 members) and the group ensure the repay. One business guarantee is needed for the whole group.
What is the Murabaha Rate?
There is no profit margin

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