The document provides an analysis of the potential Islamic banking market in Pakistan. It estimates the total addressable market at around 276 billion PKR based on current deposit amounts. The plan is to acquire customers through major Islamic educational institutions. The target is to acquire 10% of the estimated 3.6 million potential customers in the market. The resource plan includes a team of 20 people with an estimated total monthly cost of around 8 million PKR. The customer acquisition cost is estimated at 100,000 PKR per customer.
The document provides an analysis of the potential Islamic banking market in Pakistan. It estimates the total addressable market at around 276 billion PKR based on current deposit amounts. The plan is to acquire customers through major Islamic educational institutions. The target is to acquire 10% of the estimated 3.6 million potential customers in the market. The resource plan includes a team of 20 people with an estimated total monthly cost of around 8 million PKR. The customer acquisition cost is estimated at 100,000 PKR per customer.
The document provides an analysis of the potential Islamic banking market in Pakistan. It estimates the total addressable market at around 276 billion PKR based on current deposit amounts. The plan is to acquire customers through major Islamic educational institutions. The target is to acquire 10% of the estimated 3.6 million potential customers in the market. The resource plan includes a team of 20 people with an estimated total monthly cost of around 8 million PKR. The customer acquisition cost is estimated at 100,000 PKR per customer.
The document provides an analysis of the potential Islamic banking market in Pakistan. It estimates the total addressable market at around 276 billion PKR based on current deposit amounts. The plan is to acquire customers through major Islamic educational institutions. The target is to acquire 10% of the estimated 3.6 million potential customers in the market. The resource plan includes a team of 20 people with an estimated total monthly cost of around 8 million PKR. The customer acquisition cost is estimated at 100,000 PKR per customer.
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Landscape quantified
Urban Areas population of Pakistan is close to 90 Million people
Banked population in urban areas is close to 20%
Islamic Banks are 20% in size of the total banking industry
Therefore our Landscape size is 90 M x .2 x .2 = 3.6 Million people
Market sizing
As of 31st December 2022, PKR 2,759,206 Million in Islamic Banks Saving + Current Deposits
If 10% is the risk appetite of the account holders, then almost 276 Billion is the total market size that can be acquired in the beginning which is still untapped.
Selling style
Through the Largest Jamias / Madrassah having well known Ulema and their students
Then Medium Sized Islamic Institutes and University
Customer acquisition channel and costing
As above.
20 Jamias x 6 Months x 200,000 per month = 24,000,000
60 Medium sized Institutions = 24,000,000
Sales cycle duration
6 Months
Resource hiring plan
20 team in total including 5 Analysts, 3 Admin Staff and 12 Sales Team.
Compensation structure
200,000 per Analyst per month
100,000 per Admin per month
12 x 100,000 per Sales team
1% per first buying transaction per customer will go to all Staff.
Product development pipeline
18 Months
Service evolution
4 new services will be added once basic platform is commercially launched
Differing market segments
Anyone above 18 have a bank account in Islamic Bank as mentioned above
Job personnel interested in other income/side hustle
Ulema and Madaris Students
User acquisition funnel
10% of the total customers tapped will be finally booked.
Differing customer segment sizes
Anyone above 18 have a bank account in Islamic Bank as mentioned above: 70%
Job personnel interested in other income/side hustle: 60%
Ulema and Madaris Students: 30%
The categories are interlinked so the percentages are not independent of one another Cost structure broken down
Brokerage License Cost: PKR 2,500,000
Application Processing Fee: 100,000
Rent: 250,000 per month
Travelling: 12 x 200,000 = 2,400,000 per month
Staff = 20 x 200,000 per month =: 4,000,000 per month
Selling and Admin Expenses: 400,000 per month
App/service development costing = 120,000 per month x 5 = 6,000,000
Customer Acquisition Cost
10,000 per customer x 10 visits = 100,000 per customer
Typical customer transaction size
60,000 per month * 100,000 =6,000,000,000 per month
Life time value for each customer:
Our main target age of premium customers is 35+ which goes upto 70 years on average.
So within 35 years we will be making 4% of 60K per month over 35 years = 0.04 x 60,000 x 12 x 35 = almost 1 Million per customer over the useful life.
Customer journey through service
Once the customer enters the service, financial advisory and knowledge will be provided for free. Free news and buying selling tips regarding the right time will be provided.
