Bank Al Falah, one of the leading commercial and digital banks, proudly announces the launch of Pakistan’s first digital agriculture financing product, aimed at empowering small-scale farmers and entrepreneurs in the country’s agriculture sector. To make. This innovative product allows customers to access dairy and equipment financing through a seamless digital process, a major milestone in Pakistan’s financial landscape.
Digital Agriculture Finance is part of the bank’s commitment to promote economic growth and financial inclusion in Pakistan. The product has been launched as part of the Revive and Rise initiative, which aims to provide access to subsidized financing at a rate of 2 percent to potential farmers, enabling them to establish sustainable income streams. And contribute to the economic development of the country.
The First Digital Agricultural Financing Programme Launched product has crossed PKR 100 million in total distribution within three months, demonstrating the immediate impact and demand for instantly accessible financing in the agriculture sector. The beneficiaries of this initiative include people from various remote areas, especially the flood-prone areas of Sindh, representing both genders and diverse sections of the agricultural community.
Pakistan’s first digital agriculture financing product has already made significant strides in empowering rural communities, particularly in the dairy sector, surpassing the disbursement of over PKR 100 million, financing facilitated the purchase of livestock. So far, a remarkable 333 animals have been recovered. Female participation is significant in this effort, accounting for 24% of total users. As all proceeds are earmarked for ‘Dairy Financing’, this reflects a concentrated effort to promote the development of small-scale farmers and encourage sustainable agricultural practices in Pakistan.
بینک کی ڈیجیٹل ایپ ‘الفا’ کے ذریعے، صارفین اپنی مخصوص ضروریات کے مطابق فنانسنگ کے مختلف اختیارات میں سے انتخاب کر سکتے ہیں۔ ان اختیارات میں ضروری سامان کی فنانسنگ شامل ہے جیسے چارہ کٹر، دودھ کے چلرز، دودھ دینے والی مشینیں، اور ڈیری اور ان پٹ فنانسنگ کے آلات۔ درخواست دہندگان کے پاس مطلوبہ قرض کی رقم کے ساتھ ساتھ جانوروں کی قسم اور مقدار کا انتخاب کرنے کی لچک ہوتی ہے جس کے لیے انہیں مالی امداد کی ضرورت ہوتی ہے۔ اس کے بعد ریئل ٹائم کریڈٹ اسیسمنٹ اور فوری ادائیگی کی تصدیق کے ساتھ معاہدے کی ڈیجیٹل قبولیت ہوتی ہے۔ کاغذ کے بغیر عمل صارفین کے لیے سہولت اور فوری تسکین کا باعث بنتا ہے۔
Speaking on the occasion, Muhammad Yahya Khan, Chief Digital Officer, of Bank Al Falah said, “The introduction of Pakistan’s first digital agriculture financing product marks our commitment to empower the agricultural sector and promote financial inclusion in Pakistan. We are committed to ensuring that small-scale farmers always have access to financial services. Through fast, low-cost, and consumer-friendly financing solutions, we aim to benefit small-scale farmers and the wider agriculture industry is to be empowered to increase productivity, increase livelihoods, and contribute to the growth of Pakistan’s economy.
Digital agriculture financing includes minimal markup and processing fees, ensuring affordability and accessibility to all eligible applicants. With this initiative, Bank Al Falah is poised to transform Pakistan’s small-scale agriculture industry, paving the way for sustainable growth and prosperity in rural communities.