7 months

Min. Investment

৳ 10,000

Projected ROI


Risk Grade



Shopan Enterprise is a wholesaler of authentic Sundarban honey and other organically collected honey. The business is seeking funds to prepay honey collectors (মৌয়াল) in Sundarbans for purchasing honey. Investors can expect to get an ROI of 9.33%-10.5% (16%-18% annualized)* over 7 months.

Shopan Enterprise completed 100% repayment of Campaign 1 and 50% of Campaign 2.

*subject to investment risk (details below)

Balughat, Dhaka Cantonment, Dhaka, Bangladesh

Shopan Enterprise [3]

৳ 1,292,926 Raised
৳ 0 Being Processed
Goal: ৳ 1,200,000
Minimum amount is ৳ 10000 Maximum amount is ৳ 600000
৳  Download App
By Saif
62 Campaigns | 0 Loved campaigns

The Business

Accordion Content

Sundarbans produces the famous mangrove honey, or Sundarban honey as we know it. The process of Sundarban honey collection is unique. Mouals (or honey collectors) go deep into the Sundarbans to collect honey with a 14-day permit from the Bangladesh Forest Department. The Mouals stay inside the forest for these 14 days and collect honey. This honey is sold all over Bangladesh through various traders.

For 3 years, Shopan has been sending boats to collect honey in a joint venture and sells wholesale to reputed businesses across the country. In line with the huge demand, Shopan has decided to send one additional boat along with the other 3 alhamdulillah, and this is the reason Shopan is looking for investment.

Apart from the honey business, Shopan is also involved in various research projects and honey research & awareness work. Shopan is also encouraging traders to establish mini labs for quality honey screening and testing. Shopan has already helped to establish mini labs in 4 reputed institutions of the country. 

Shopan has been working tirelessly to develop the budding honey sector in the country and with this inspiration many educated youth are getting involved in the honey business today. As a result, Shopan has already gained recognition as a pioneer in the honey sector today.

Shopan Enterprise completed 100% repayment of Campaign 1 and 25% of Campaign 2

Shop + Warehouse Address: 69/7, BH Jasmin Tower, Balughat, Dhaka Cantonment
Explore: Facebook shop page | Facebook group


💡 Is the business Shariah-compliant?

  • The business model (collecting and selling honey) is Shariah-compliant
  • The owner of Shopan Foods has constantly asked questions to ensure that the overall contract process is Shariah compliant.

💡 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.

Mr. Ariful Islam 

Mr Ariful Islam passed his SSC and HSC from BAF Shaheen College and completed his honours in Journalism from Stamford University and MBM (Masters of Bank Management) from Bangladesh University of Business Technology. He ran a business of gents garments and also a pharmacy business. His work with honey started out as a hobby, and turned into a major business while studying and writing extensively about it! The pharmacy is still active, but the garment business has been closed and now the sole focus is on the honey business.

Shopan has been working in the honey sector for 7 years, and has gathered a good reputation for themselves. Mr Arif is working to raise awareness about adulterated honey as well as removing common misconceptions about honey. He is working tirelessly to make “Sundarbans honey” stand tall besides other famous brands of the world. Shopan has worked with Alwan Enterprises over the past year for a separate BSTI standard for “Sundarbans honey”. Due to their efforts, this year BSTI released a new standard for honey; the gadget came into force as “BDS 1039-2022” from 28th September 2022.

  • Business owner is well-known and experienced in the local industry. 
  • Loyal customer base due to the good quality and authenticity of product. 
  • Relentlessly working to establish quality of products and maintain business ethics.

The Contract

Accordion Content

The investment is for a period of 7 months, from January 2024 to July 2024.

  • Projected ROI (for the duration of the project): 9.33%-10.5%
  • Projected ROI (annualized): 16%-18%

Example: If someone invests BDT 100k in the project, he/she can expect to receive a total of BDT 109.33k – 110.5k in July 2024.

Beginning of the investment:

    • Investors will go into a Mudaraba agreement with Shopan Enterprise
    • Shopan Enterprise will be using the investment amount as working capital to purchase honey.
    • biniyog.io will act as an agent for the investors and collect necessary funds and deposit to the business account of Shopan Enterprise
    • biniyog.io will follow-up Shopan to ensure that the funds are being used to cater to that work order
    • biniyog.io has proposed a 50:50 split of the net profit generated during the specific project and Shopan has agreed to it and investors will get 16%-18% annualized ROI after adjusting biniyog’s service fee on investor profit. biniyog.io will be charging 30% service fee on investor profit  and 0.1% on the investment amount.. This means investors will be keeping 70% of the total shared profit of this project.

End of Investment:

    • Investors will be eligible to get the principal and profits (if any) from the financed project within the mentioned investment period.
    • biniyog.io will verify the costs associated with completing the particular work order before calculating the final profit
    • The principal investment amount along with profit or loss will only be returned to the investor at the end of the investment period
    • If the business incurs net loss over the period of 7 months for this project, investors will have to share loss as per the ratio of ownership of the project as there are multiple parties involved in this Mudaraba contract. 

Shariah Compliance

Accordion Content

Investors invest into the business under a partnership (Mudaraba) agreement that makes them eligible for receiving profits generated by the business. biniyog.io will act as an agent to deal on their behalf (Wakalah).

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

Potential Risks

Accordion Content
  • Inflation and macroeconomic issues: Prices of commodities are going up on a regular basis. The honey market is not completely safe from such impact. Prices going up by a significant margin might end up hurting the total revenue and the net profit of any business.
    • Shopan Enterprise’s strategy: The business will be buying the products before the inception of the peak season. Being a wholesaler, Shopan Enterprise has a fixed set of customers. In fact, the business had failed to meet the demand due to either shortage of funds or supply of product in the previous season. Therefore, the probability of the business getting hit by the high inflation and macroeconomic issues is low. 
  • Tiger attack on Moual jeopardizing honey collection: There have been incidents where honey collectors were brutally injured or got killed by tiger attacks. The honey collection comes to a halt if such incidents occur. The honey collectors fail to provide the honey they have taken pre-payments for. Although tiger attacks are not that frequent, the chance of being attacked by a tiger while collecting honey is never zero percent. In fact, the business itself suffered a loss due to an unfortunate tiger attack in 2021 where one of the assistants of the honey collectors was killed. The honey collectors came back instantly and the business suffered a significant loss in that year. However,  the pre-paid money given to the collectors was not lost. They repaid most of the money by providing honey in the next season and there is only a small amount to recover from them now. But it is to be noted here that the recovery of money took way more time than expected. This happened mainly because the Mouals adjust the money by providing honey in the next consignment. It is even adjusted in the next season as well.       
    • Shopan Enterprise’s strategy: There is only one way to reduce this risk that is to make contracts with highly experienced and skilled honey collectors. The owner of Shopan Enterprise has a strong network built-up with many expert honey collectors and the locals. He’ll be acting as an intermediary between the investors and the honey collectors to ensure the investors can limit this risk to a tolerable extent.   
  • Honey getting seized by border authority: Mouals may get into the Indian territory intentionally or unintentionally. If the BSF (Border Security Force of India) can apprehend them while doing so, they normally seize all the honey the Mouals have gathered. Such an incident occurred in the last season where the BSF seized some of the honey collected by the Mouals of the business. 
    • Shopan Enterprise’s strategy: Mr. Arif, the owner, has over 5 years of experience in this line of business. He has worked with numerous honey collectors. He has managed to gather expert navigators in his team. Therefore, Shopan Enterprise is set to collect this season’s honey with more caution.
  • Variability of net ROI: The business has some risks associated as stated above. If any of the risks come into play and hamper the business significantly, the net profitability of the project might get hurt. This will ultimately lead to a lower net ROI for the investors.
    • Shopan Enterprise’s strategy: This is the fourth Sundarban honey project for Shopan Enterprises. Having a good level of experience in this area, the business has been able to build good networks in the area which help him to run his operation more smoothly and efficiently. Moreover, the business normally adjusts a reasonable level of unexpected costs/ losses in the overall calculation to keep the expected profit calculation very close to reality. Therefore, the probability of any significant drop in the net ROI of biniyog’s investors can be mitigated to a tolerable level.    

There will be multiple parties involved in this Mudaraba contact. To ensure Shariah compliance, investors have to share losses according to the total investment amount ratio (if incurred) over the 7-month investment period.

For example, if someone invests BDT 10k and the business incurs a loss of 5%. The investor would get back BDT 9.5k. That means that the investors will bear the full loss. 

Shopan Enterprise will share a security cheque with biniyog.io. A guarantor will also be provided in the contract for adding an extra layer of safety for the investors.


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.

  • 07-12-2023

    This campaign is now live on biniyog.io!

    This campaign is now live on biniyog.io! The funding campaign has started. The target is BDT 12 lac.