12 months

Min. Investment

৳ 10,000

Projected ROI

16% per annum

Risk Grade



7 installments (Starting from the 6th month)


Hazi Altaf Oil Mill is a mustard oil manufacturing and processing business that operates through both offline and online channels with its two-winged business model (wholesale and retail sales). The business needs funding for purchasing mustard seed in bulk so that price advantage can be gained. 

Investors can expect to get an ROI of 16%* over 12 months. 


*subject to investment risk (details below)

Narshingdi, Bangladesh

Hazi Altaf Oil Mill

৳ 1,965,000 Raised
৳ 110,000 Being Processed
0 Days Left
Goal: ৳ 1,500,000
The campaign is successful.
By Saif
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The Business

Accordion Content

Hazi Altaf Oil Mill is a mustard oil manufacturing and processing business. The business is a supplier of a few renowned brands among which 2-3 brands are among its most loyal customers. The business has both wholesale and retail sales wings along with both offline and online sales channels.  

There are 10 oil extractors (Ghani) in the manufacturing and processing plant of the business that has the capacity to produce 700-800 liters of mustard oil everyday. 

The business procures raw materials (mainly mustard seeds) from areas like Manikganj, Narshingdi, etc. The mustard seed is then processed at the manufacturing and processing plant. 

The business is currently seeking funds for catering the extra market demand. 


Bouakur, Narshingdi Sadar, Narshingdi 

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💡 Is the business Shariah-compliant?

  • The business model (manufacturing and selling mustard oil) is Shariah-compliant.
  • However, according to our Shariah Advisors, biniyog.io and the investors will NOT be liable if the day-to-day operations of the business are not fully Shariah-compliant.

    This is because investors will be going into a Murabaha (sale contract), not profit-sharing or partnership. Please find contract details in the “Contract” section below.

💡 Is there any investment risk involved?

Investments have risks by definition, especially if they are halal. Please find possible risk details for this campaign in the “Risk” section below.

Rayhanur Rahman is the owner of Hazi Altaf Oil Mill. He has received education from Qawmi Madrasa. He has 1 year of work experience as a marketing officer of Ashraf Publications (located in Banglabazar). 

He has two other businesses. One is a fashion brand named Cotton park and the other is a book publishing and printing business named “Tanzim Kutubkhana” (both located in Narshingdi Sadar). He started this oil mill in 2020 and has been successfully operating it since. He is planning to increase his production capacity after overcoming the current market demand and liquidity gap situation.  

  • Good revenue stream
  • Multiple channels of revenue (e.g. both retail and wholesale)
  • Efficient and established procurement channels.
  • Good networking with renowned brands (wholesale)

The Contract

Accordion Content

The investment is for a period of 12 months, expected from August 2023 to August 2024.

Projected ROI (annualized): 17% per annum

biniyog.io will NOT charge the investors any fees for this service. 

Example: if someone invests BDT 100k in the project, he/she can expect to receive a total of BDT 116k by August ‘24.

  • Investors will go into a Murabaha agreement (sale contract) with Hazi Altaf Oil Mill for purchasing mustard seed.
  • It will be a “buy-and-sell” process where investors will first buy products through biniyog.io. Hazi Altaf Oil Mill will then buy those items from investors on credit and pay the amount over 12 months in 7 instalments.
  • biniyog.io will act as an agent for the investors and buy the products, take necessary ownership and risk of asset possession on their behalf, and then sell to Hazi Altaf Oil Mill
  • biniyog.io has proposed a price to Hazi Altaf Oil Mill  for the products after considering a minimum 16% profit on actual cost of product procurement. Hazi Altaf Oil Mill has agreed to it.
  • Investors can expect to get their returns over 12 months in 7 instalments:
    • 10% in February’ 24
    • 10% in March’ 24
    • 10% in April’ 24
    • 10% in May’24
    • 15% in June’24
    • 15% in July24
    • Final 30% in August‘24

Shariah Compliance

Accordion Content

Investors appoint biniyog.io as an agent to deal on their behalf (Wakalah) and invest into the business through buy and sale of assets under a buy-and-sell (Bai Murabaha) agreement.

biniyog.io‘s Shariah advisors have approved the basis and application of this Murabahah contract.

Potential Risks

Accordion Content
  • Shortages of mustard seed supply: Mustard seed is a seasonal crop. Buying it in the off-season makes the production cost go up significantly. Moreover, the crops that are available in the off-season often fail to  meet the standard quality. 
    • Hazi Altaf Oil Mill’s strategy: The business normally purchases mustard seed in bulk during the on-season time. In case of off-season procuring, the business uses its well-established network to find the standard quality product. 
  • Shortages of electricity supply: The manufacturing and processing plant runs on electricity. Any prolonged load-shedding can hamper the production immensely. This will ultimately result in a significant drop in sales. This may impact any manufacturing based business because there are only very limited alternatives for this issue.  
  • Dependency on credit sales: The business has to allow credit sales to the wholesale customers (renowned brands). If the payment collection cycle gets derailed due to any avoidable/ unavoidable situation, the business will face significant financial troubles.
    • Hazi Altaf Oil Mill’s strategy: The business has formal contract with most of its major wholesale buyers. This safeguards the business from any significant delays or bad debts. Moreover, the business operates both retail and wholesale wings. This allows the business to generate revenue from two separate sources. The business generates a good margin of profits from its retail sales. This helps the business to stay afloat in times of any cash crunch. 
  • Inflation: An increase in the price of raw materials would have an effect on selling prices to local buyers, possibly resulting in a decrease in sales volume.
    • Hazi Altaf Oil Mill’s: The business is planning to make some bulk purchases with the funding. This step is expected to mitigate the price hike issue to a tolerable level.
  • Possibility of political turmoil following the upcoming election: Our assessment assumes that there will be some macroeconomic turmoil towards the end of 2023 before the general election. This may impact any business.

biniyog.io has done in-house analyses of the projected returns of the business and they are expected to be able to repay on time, if not hugely impacted by macroeconomic issues.

biniyog.io will buy the products on behalf of investors first and secure ownership. The products will then be handed over to Hazi Altaf Oil Mill within a very short time frame.

Hazi Altaf Oil Mill would have the right to reject the products due to quality etc. The risk is expected to be minimal since Hazi Altaf Oil Mill themselves will be choosing the items before biniyog.io buys them.

This is a necessary risk to ensure Shariah compliance of the transaction.

Hazi Altaf Oil Mill will share instalment cheques with biniyog.io. Additionally, the business will be introducing a “guarantor” to the contract and a personal guarantee security cheque will be kept from the business owner.


This investment opportunity is based on a first come first serve basis. Your investment is secured only after your transfer-proof has been received. If the investment quota is already filled, your transferred amount shall be returned.

Return of your capital is NOT guaranteed. Investment, by default, requires a risk appetite. Past performance is not a guaranteed indicator of future outcomes.

biniyog.io only acts as a consultant to the investor and the business, and does NOT manage funds for any party.

biniyog.io does risk assessment to a certain extent, but will NOT be liable if the business does not perform as per expectation.

For any questions, please use the chat icon on the right or leave a message.

  • 26-07-2023

    This campaign is now live on biniyog.io!

    The funding campaign has started. The target is BDT 15 lac.