Bai-Muajjal-based Investment for Income-Generating Rural Activities
AL NOOR Uparjon is a Shari’ah-compliant investment facility designed to support farmers and SMEs engaged in diverse agricultural and rural income-generating ventures. Under Bai-Muajjal mode, the Bank procures goods as per client request and sells them on credit at a fixed price (cost + profit + expenses), repayable in lump sum or installments.
Key Features
- Financing for mushroom cultivation, vermi compost, salt harvesting, Napier grass, nursery, horticulture, domestic vehicles, warehousing, agro-equipment manufacturing, and other poverty-alleviating activities.
- Targeted at individual farmers, SMEs, and women entrepreneurs. Group financing allowed (5–15 members).
- Bai-Muajjal agreement required; client may act as Buying Agent.
- Investment size: BDT 1 Lac – 1 Crore; collateral-free up to BDT 3 Lac.
- Profit Rate: As per Bangladesh Bank direction & Bank’s policy.
- Tenure: 1 year; renewable annually.
- Repayment: Lump sum or installments; early payment allowed.
- Security: Hypothecation, personal guarantees, PDCs, insurance (if applicable).
Eligibility
|
Criteria |
Requirements |
|
Nationality |
Bangladeshi only |
|
Age |
18–55 years (relaxable to 60) |
|
Experience |
Minimum 2 years in agri farming |
|
Legitimacy |
Must have legal capacity |
|
Delinquency |
Not eligible if previously delinquent |