Kiva

So, I just made my first microloan to kiva today. I made 5 loans in 5 different countries so as not to exude any favoritism. I have a bit of nervous anticipation about getting my money back. I almost can't wait for the first installments to arrive.

Prior to committing my money I tried to research Kiva as best I could in a hurried 5 minutes (I had already wasted too much time reading borrower profile pages). I really like how 100% of your money gets passed forward by Kiva and that I will not be getting any interest back on my money as this is unlawful in Islam. But I was shocked to find out some of the lending institutions kiva is partnered with charge as much as 38% apr (including interest and fees)! That seems like blatant usury considering the originator of the loan (myself) is getting 0% of the cut. The Kiva website explains it away as saying microloans have high overhead and administrative costs relative to the size of the loans, yadda yadda yadda, whatever. Anyway, so I did another google search to find out if lending in this way violates any islamic laws, but failed to find a satisfactory answer. So, I just went ahead with the transaction. I hope I am doing a service to these people rather than a dis-service.

If it works out, I am seriously considering a kiva gift card for my niece's 4th bday present. I was recently reminded by an article on oprah's web site about the importance of making our charity contributions visible to our children. The article's author came from a family who sponsored a child through Plan USA and that background launched him into a philanthropic career against global poverty. (Note to self: add Half the Sky to reading list). I would certainly feel honored if my own daughter chose such a path, but I am fine with her simply recognizing its importance. I thought all families upheld selfless giving as a virtue to their children, but that sadly seems to be lacking in the rural right-wing belt. (okay that is a generalization and I don't even know if it is true).

I may not have gotten very much done today, and I may have wasted too much time online (yet, again), but I can put my mind at ease because at least I have helped 5 people out.