Al Nasser Dairy Shop was established in 2007 by Mr. Mohammad Badarneh of Irbid. The business produces all its dairy products from fresh milk supplied by a local supplier from nearby dairy farms.
The shop has witnessed continuous success in the governorates of Irbid. In addition to dairy products, the entrepreneur has a variety of pickles prepared in the shop and sold during different seasons.
The business obtained JD 80,000 through Nomou’s Islamic financing option in December 2015. The amount targeted financing a new pasteurisation equipment, a vending vehicle and working capital. As the first Islamic finance deal inked by GroFin, the deal caters to the specific needs of entrepreneurs in the MENA region.
“Nomou’s support allowed me to supply large stores with dairy products on daily basis, thus opening new opportunities for my business,” says Mohammad.
Apart from finance, Nomou provided business support to the client in the form of preparing audited financial statements and formulating a business plan.
“The business sells fast moving, perishable items and we will focus on assisting the entrepreneur to develop a strategy to improve the business process that will add to the product quality,” says Ziad Halawani, Investment Manager at GroFin Jordan.
Dairy products such as milk and yogurt being more perishable than other variants such as cheese, the entrepreneur has also been encouraged to expand, against which large-sized orders for cheese have already been received from Saudi Arabia.
Besides, the company is currently employing a total of 8 employees, and apart from maintaining these jobs, an additional 4 employees are expected to be hired over the duration of Nomou’s support. The entrepreneur deals directly with the farmers through contractual milk supply agreements and this positively impacts the livelihood of the local farmers. The Irbid governorate consists of many poverty pockets, making this a region of focus for Nomou in terms of helping entrepreneurs to set up in the region and provide employment to others in the region.