Duration

6 months

Min. Investment

৳ 10,000

Projected ROI

16% Annualised

Risk Grade

B+

Overview

The Sunnah Store is an Islamic lifestyle brand, looking to raise funds to increase product inventory to cater to both domestic and international client bases. They need funds for the production of ceramic, home decors, clothing, stationary, and other similar accessories items. 

This is a “buy-and-sell” (Murabahah) contract where investors can enjoy an ROI of 8.00%* over 6 months (annualized expected return of 16.00%).

*subject to investment risk (details below)

Banasree, Dhaka, Bangladesh

The Sunnah Store

৳ 30,000 Raised
৳ 0 Being Processed
0 Days Left
Raised:
2.00%
Goal: ৳ 1,500,000
The campaign is successful.
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The Business

Accordion Content

The Sunnah Store is one of the first Islamic Stationery and Interior design shops, established in 2017. From then they have worked in different sectors like Ceramic, Lifestyle and Gifting. Currently, they are operating in Bangladesh as their HQ with a retail outlet in London, UK.

Last year, the business served around 20,000 customers all over BD. Currently, The Sunnah Store is offering almost 500 different types of products to their customers. The business has two sub-brands named Horseman, which is a grooming lifestyle brand for men, and Qloset, a lifestyle brand for women. 

The business is moving forward with the goal of being a leading Islamic Lifestyle Store in the domestic and global market with various innovative products. 

Office/Factory Address:  385/1/A, Banasree Road (Behind TV Center), Dhaka, Bangladesh.

Explore:    Facebook Page | Website | Instagram | Twitter | Tiktok

FAQ:

💡 Is the business Shariah-compliant?

The business model (selling Islamic lifestyle products) 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.

Written by the business

I am Kazi Shahriar Rashid, Head of Research and Product Development and CEO of The Sunnah Store. I have been actively working in this company since 2017 Alhamdulillah. After my graduation from BRAC University, I used to work in RMG section but ended up in Business and Entrepreneurship Alhamdulillah. Our vision is to go global to as many people possible In sha Allah and as soon as possible In sha Allah. We dream to make it a complete Islamic Lifestyle Store for the Muslims, In sha Allah. 

  • Catered to various retail and corporate clients. 
  • 100% cash sales.
  • Strong online presence. 
  • Operating in both domestic and international markets (international market operation to be opened soon). 
  • Wide range of products under various categories: Stationery, Frames & Calligraphy, Lifestyle & Grooming, Ceramics, and Gift Sets. 

The Contract

Accordion Content

The investment is for a period of 6 months, from February 2024 to August 2024.

Projected ROI: 8%

Projected ROI (annualized): 16%

Example: if someone invests BDT 100k in the project, he/she can expect to receive a total of BDT 108k in August 2024.

biniyog.io will be charging investors an 11.11% fee on their profits. Example: If an investor invests BDT 100k and makes a profit of 9k in 6 months, biniyog.io will charge 1k as a service fee. This means investors will be keeping 88.89% of the profits generated. The net ROI for the investors will be 8% for 6 months (16% annualized) after deducting biniyog.io’s fee.

  • Investors will go into a Murabahah agreement (sale contract) with The Sunnah Store to purchase raw materials for making ceramic, clothing, stationery, etc and finished goods as well .  
  • It will be a “buy-and-sell” process where investors will first buy products through biniyog.io. The Sunnah Store will then buy those items from investors on credit and pay the amount over 6 months.
  • 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 The Sunnah Store.
  • biniyog.io has proposed a price to The Sunnah Store for the products after considering a minimum 9% profit on the actual cost of product procurement and The Sunnah Store has agreed to it. Investors will be getting a net of 8% profit after deducting biniyog.io‘s service charge on investor profit.
  • Investors can expect to get their returns over 6 months.

Shariah Compliance

Accordion Content

Investors appoint biniyog.io as an agent to deal on their behalf (Wakalah) and invest in the business through the buying and sale of assets under a “buy-and-sell” (Murabahah) agreement. 

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

Potential Risks

Accordion Content
  • Supply Chain Disruptions: The availability of good quality raw materials could be disrupted due to factors like price fluctuations, supply conditions, or geopolitical issues.
        • The Sunnah Store’s strategy: The Sunnah Store has connections with many suppliers for different types of raw materials. Moreover, the business also has connections with importers for procuring premium accessories that are hard to find domestically. As the business is selling premium products, a rise in the raw materials will allow the business to increase the price of final products. This will mitigate such issues to a tolerable point.
  • Economic Downturns: Economic recessions in our country can impact consumer spending on non-essential items, affecting demand for luxurious accessories.
        • The Sunnah Store’s strategy: The Sunnah Store usually targets customers belonging in the upper-medium class to upper-class people. This gives the business edge over the customer demand resulting in stable sales and keeping a good margin.  
  •  Market and Consumer Risks: Changes in consumer preferences or trends may impact the demand for lifestyle products. There exists intense competition in the lifestyle product industry in both online and offline markets.
        • The Sunnah Store’s Strategy: The Sunnah Store is currently providing around 500 products ranging from home decors, and stationaries to scented candles, and grooming products, allowing them to stay ahead in the market due to its product quality and innovative design perfect for using as gifts.

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 The Sunnah Store within a very short time frame.

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

The Sunnah Store will share a personal guarantee security cheque with biniyog.io. Moreover, a guarantor will be introduced in the contract to add an extra layer of security for the investors.

Disclaimer

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.

  • 22-01-2024

    This campaign is now live on biniyog.io!

    The funding campaign has started. The target is BDT 15 lacs with a stretch goal of 20 lacs.