Project Proposal: Sharia-Compliant Online Marketplace for Localized Area
Executive Summary
This proposal outlines the development of an online marketplace tailored to serve a localized
area, incorporating Sharia-compliant principles and utilizing Sidra coins as the primary payment
method. The platform aims to provide a safe, reliable, and convenient space for local
businesses and consumers to interact, facilitating economic growth and promoting ethical
commerce
Problem Statement
● Lack of Sharia-compliant online marketplaces: The absence of platforms that adhere
to Islamic principles creates a gap in the market for individuals seeking ethical and
halal-compliant products and services.
● Limited access to local businesses: Traditional brick-and-mortar stores may not reach
a wider audience or offer the convenience of online shopping.
● Inefficient payment systems: Existing payment methods may not be suitable for
Sharia-compliant transactions or may not adequately address the needs of the local
community.
Proposed Solution
The proposed online marketplace will address these challenges by:
● Adhering to Sharia principles: The platform will be designed to comply with Islamic
laws, ensuring that all transactions and products are halal and free from interest-based
financing.
● Focusing on local businesses: The marketplace will prioritize local vendors, promoting
economic growth and strengthening community ties.
● Utilizing Sidra coins: Sidra coins will be the primary payment method, offering a secure,
transparent, and Sharia-compliant alternative to traditional currencies.
● Providing a user-friendly interface: The platform will be easy to navigate and use,
making it accessible to a wide range of users.
Target Market
The target market for this online marketplace includes:
● Local residents: Individuals seeking to purchase products and services from local
businesses.
● Local businesses: Vendors looking to expand their customer base and reach a wider
audience.
● Sharia-compliant consumers: Individuals who prioritize ethical and halal-compliant
products and services.
Features and Functionality
● Product listings: A platform for businesses to list their products, including detailed
descriptions, images, and pricing.
● Search and filtering: A robust search function to help users find specific products or
businesses.
● Shopping cart: A virtual cart for users to add items and proceed to checkout.
● Secure payment gateway: A secure system for processing payments using Sidra coins.
● Customer reviews and ratings: A system for customers to provide feedback on
products and services.
● Seller ratings: A system for buyers to rate sellers based on their performance.
● Messaging system: A platform for buyers and sellers to communicate directly.
● Delivery tracking: A system for tracking the status of orders and deliveries.
