8 months

Min. Investment

৳ 10,000

Projected ROI

17% annualized

Risk Grade



Walrus Republic Lifestyle is a manufacturer and wholesaler of leather footwear products. The Business is gearing up for expansion by raising funds to increase product stock to cater to a larger client base. They want to purchase raw materials for manufacturing leather shoes in bulk so that special discount prices can be availed that will enable the business to make a better profit margin.

This is a “buy-and-sell” (Murabahah) contract where investors can enjoy an ROI of 11.33%* over 8 months (annualized expected return of 17%).

 *subject to investment risk (details below)

Uttara, Dhaka, Bangladesh

Walrus Republic Lifestyle

৳ 240,600 Raised
৳ 105,270 Being Processed
7 Days Left
Goal: ৳ 400,000
Minimum amount is ৳ 10000 Maximum amount is ৳ 150000
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By Nerob
18 Campaigns | 0 Loved campaigns

The Business

Accordion Content

After the RMG Sector in Bangladesh, the footwear sector is considered to be a potential export market. We have emerged as a shoe brand by thinking about the demand of the international market and shoes as a part of the basic needs of people.

“Walrus” started its journey from 2019 as a domestic Bespoke shoe brand. Later we established a manufacturing unit and continued manufacturing activities for reputed brands of Bangladesh through B2B. Along with the trend of online retailing we are developing ourselves to step into the online market properly. 

Walrus mainly produces leather footwear. We manufacture leather sneakers, oxfords, monk straps, driving shoes ect. 15+ brands, 100+ retailers and 17000+ customers are directly associated with us in B2B, Wholesale and B2C.

Aiming to establish our brand, we are working to build our strong position on digital platforms.

In that case we require funds for production to generate cash flow.

Address : 37/1, Badaldi Main Road, Turag-1230

Facebook | Website  


💡 Is the business Shariah-compliant?

The business model (selling shoes) 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.

I am Mohammad Sohan, currently serving Walrus Republic Lifestyle as a Chief Executive Officer.  I was involved with a part time job and I’ve trained myself as a survivor since student life, after graduation I started executing my experience as an assistant brand manager in a multinational organization. And later I served two more reputed corporate houses of Bangladesh. Prioritize branding, marketing and sales to build myself up before entering the business. So, I started my entrepreneurial life in 2018.

Here in the footwear sector, I have gathered experience in the production line. In my observations, this sector has huge demand and is growing day by day. 

There is no custom and Goodyear welted shoe brand in Bangladesh yet, my dream is to establish WALRUS as a luxury and “Made in Bangladesh” shoe brand in the international market.

  • Own factory setup with a production rate of 3000 pcs per month.
  • Established customer base. 
  • Consistent revenue flow

The Contract

Accordion Content

The investment is for a period of 8 months, from the end of May 2024 to End of January 2025.

Projected ROI: 11.33% 

Projected ROI (annualized): 17% Annualized

Example: If someone invests BDT 100k in the project, he/she can expect to receive a total of BDT 11.333k by January 2025.

biniyog.io will be charging investors an 10.53% fee on their profits. Example: If an investor invests BDT 100k and makes a profit of 12.666k in 8 months, biniyog.io will charge 1.333k as a service fee. This means investors will be keeping 89.47% of the profits generated. The net ROI for the investors will be 11.33% for 8 months (17% annualized) after deducting biniyog.io’s fee.

  • Investors will go into a Murabaha agreement (sale contract) with Walrus Republic Lifestyle for purchasing raw materials for making shoes.
  • It will be a “buy-and-sell” process where investors will first buy the products through biniyog.io. Walrus Republic Lifestyle will then buy those items from investors on credit and pay the amount after 8 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 Walrus Republic Lifestyle.
  • biniyog.io has proposed a price to Walrus Republic Lifestyle for the products after considering a minimum 12.67% profit on the actual cost of product procurement and Walrus Republic Lifestyle has agreed to it. Investors will be getting a net of 11.33% profit after deducting biniyog.io’s service charge on investor profit.
  • Investors can expect to get their returns in 2 installments in 8 months:
    • 20% in October ’24
    • 80% in January ’25

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
  • Fluctuating Raw Material Costs: Variations in the prices of leather and other materials used in shoe production can impact the business’s profitability. Unexpected increases in costs could lead to lower profit margins  potentially affecting the net profitability of the business.
    • Walrus Republic Lifestyle’s Strategy: The business has established connections with many suppliers and wholesalers of raw materials . This enables the business to procure products at a competitive price, which also reduces supplier dependency significantly. The business also makes bulk purchases that allows for getting special discounts on products.  
  • Economic Downturn or Inflation: Economic recessions or downturns can lead to reduced consumer spending on non-essential items like footwear. A decrease in consumer disposable income can result in lower sales for Walrus Republic Lifestyle.
    • Walrus Republic Lifestyle’s Strategy: To mitigate the threat of economic downturns, Walrus Republic Lifestyle plans to make bulk purchases, enabling competitive pricing even during challenging times. Moreover the business is establishing its retail wing with a strong online presence where they can gather data about customer preference and can do analysis on customers expenditure behavior. 
  • Dependency on credit sales: The business generally has to make credit sales for maintaining relationships with B2B vendors. Any missed repayment from vendors might result in a drop in the revenue and interrupt the payment cycle of the business. 
    • Walrus Republic Lifestyle’s Strategy: The business allows credit purchase to only some of his regular customers based on their repayment history and volume of transactions.

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. Walrus Republic Lifestyle would have the right to reject the products due to quality etc. The risk is expected to be minimal since Walrus Republic Lifestyle will choose the items before biniyog.io buys them. 

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

Walrus Republic Lifestyle will share a security cheque. Moreover, a guarantor will be introduced in the contract for adding an extra layer of security 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.

  • 15-04-2024

    This campaign is now live on biniyog.io!

    The funding campaign has started. The target is BDT 4 lac with a stretch goal of BDT 5 lac.