Majd Abubaker's Contact Details

Majd Abubaker's Company Details

الشركة الفلسطينية للإقراض والتنمية - فاتن

Ramallah, , • 91 Employees
Financial Services

Palestine for Credit and Development – FATEN is a leading national non-profit organization in the field of micro-credit. FATEN was founded in 1999 with the objective of providing diversified, sustainable and high-quality financial services for entrepreneurs of small and micro enterprises, pioneers and economically active low-income individuals especially women, through empowered human resources and advanced technical capabilities to contribute to the empowerment of the Palestinian family in particular and the development of the Palestinian society in general. FATEN aims to improve the quality of life in Palestine, through providing access to high-quality and sustainable microfinance services. Palestine for Credit and Development – FATEN was able to issue since its establishment in 1999 around 121,000 loans in the amount of 168 US million dollars targeting all economic sectors in Palestine. FATEN generated many job opportunities through soft loans to low-income and economically active poor people to integrate them into the overall financial system, especially those who do not have the ability to provide traditional guarantees to get loans from the operating banks. Now, we have in FATEN about 24,000 active borrowers of which 72 % are women consisting 50% of borrowers women at the level of the 7 micro credit institutions working in Palestine. The total value of the currently active loans amounts up to 44 US million dollars, which enable FATEN to achieve financial sustainability at 196 %, operational sustainability at 211 % based on its own resources and not on other parties. FATEN operation cost amounts to less than 10% which ranks it in a very good place on regional and global level, and the best in terms of case load and of size Portfolio for the employee.