In agri-based developing countries, there two major issues faced by farmers:
1) Very little access to financing and
2) Low levels of per acre yield due to lack of modern farming techniques
Bagh-e tries to address both these issues using a tech-based solution that is Shariah compliant in-terms of financing.
With Bagh-e, the farmer enters an Islamic Mudarabah partnership with Bagh-e. Once the farmer is approved after the initial due diligence, the farmer can apply for financing which will be in the form of digital cash in the farmers Bagh-e wallet. The digital cash can only be used at approved raw-material suppliers. Bagh-e automatically gives the financing options based on which crop is in season and the location of the field.
After this step, Bagh-e generates a schedule of the complete steps required for that specific crop that the farm must do for the most optimal/high yield output. This schedule is linked to the farmers calendar with alerts on when a specific step is due. On-ground Bagh-e staff also monitor the fields to ensure that the farmer is following the correct steps and provide free consultancy on any issues being faced. The digital cash can only be used for each step at a time, rather than all at once, this is an added risk management procedure to ensure safety of funds.
After ensuring optimal yield, Bagh-e also helps the farmer sell the crops as a partner, to suppliers both via the app or physically. This helps take out middlemen from the equation and ensures that farmers get a decent return for their labor.
1) Very little access to financing and
2) Low levels of per acre yield due to lack of modern farming techniques
Bagh-e tries to address both these issues using a tech-based solution that is Shariah compliant in-terms of financing.
With Bagh-e, the farmer enters an Islamic Mudarabah partnership with Bagh-e. Once the farmer is approved after the initial due diligence, the farmer can apply for financing which will be in the form of digital cash in the farmers Bagh-e wallet. The digital cash can only be used at approved raw-material suppliers. Bagh-e automatically gives the financing options based on which crop is in season and the location of the field.
After this step, Bagh-e generates a schedule of the complete steps required for that specific crop that the farm must do for the most optimal/high yield output. This schedule is linked to the farmers calendar with alerts on when a specific step is due. On-ground Bagh-e staff also monitor the fields to ensure that the farmer is following the correct steps and provide free consultancy on any issues being faced. The digital cash can only be used for each step at a time, rather than all at once, this is an added risk management procedure to ensure safety of funds.
After ensuring optimal yield, Bagh-e also helps the farmer sell the crops as a partner, to suppliers both via the app or physically. This helps take out middlemen from the equation and ensures that farmers get a decent return for their labor.
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