AGL 6.45 No Change ▼ 0.00 (0%)
ANL 9.70 Increased By ▲ 0.20 (2.11%)
AVN 77.60 Increased By ▲ 2.65 (3.54%)
BOP 5.43 Increased By ▲ 0.08 (1.5%)
CNERGY 4.97 Increased By ▲ 0.17 (3.54%)
EFERT 77.25 Decreased By ▼ -0.75 (-0.96%)
EPCL 55.49 Increased By ▲ 1.34 (2.47%)
FCCL 15.36 Increased By ▲ 0.36 (2.4%)
FFL 6.48 Increased By ▲ 0.28 (4.52%)
FLYNG 7.47 Increased By ▲ 0.46 (6.56%)
GGGL 10.45 Increased By ▲ 0.40 (3.98%)
GGL 16.39 Increased By ▲ 0.45 (2.82%)
GTECH 8.37 Increased By ▲ 0.52 (6.62%)
HUMNL 6.45 Increased By ▲ 0.18 (2.87%)
KEL 2.93 Increased By ▲ 0.10 (3.53%)
LOTCHEM 28.34 Increased By ▲ 0.69 (2.5%)
MLCF 28.08 Increased By ▲ 1.08 (4%)
OGDC 73.85 Increased By ▲ 0.50 (0.68%)
PAEL 15.55 Increased By ▲ 0.25 (1.63%)
PIBTL 5.35 Increased By ▲ 0.20 (3.88%)
PRL 17.39 Increased By ▲ 1.29 (8.01%)
SILK 1.07 Increased By ▲ 0.03 (2.88%)
TELE 10.96 Increased By ▲ 0.51 (4.88%)
TPL 7.81 Increased By ▲ 0.12 (1.56%)
TPLP 19.66 Increased By ▲ 0.44 (2.29%)
TREET 23.85 Increased By ▲ 1.10 (4.84%)
TRG 126.90 Increased By ▲ 11.00 (9.49%)
UNITY 23.06 Increased By ▲ 1.26 (5.78%)
WAVES 11.55 Increased By ▲ 0.40 (3.59%)
WTL 1.14 Increased By ▲ 0.02 (1.79%)
BR100 4,126 Increased By 86.6 (2.14%)
BR30 15,495 Increased By 511.5 (3.41%)
KSE100 41,152 Increased By 531.3 (1.31%)
KSE30 15,420 Increased By 206.9 (1.36%)
Business & Finance

Loans on collateral basis: NBP starts facilitating farmers through ‘EWRF’ system

  • EWRF system aims to make farmers’ journey easy and profitable from crop cultivation to sale
Published June 5, 2022
Follow us

KARACHI: National Bank of Pakistan (NBP) has started facilitating farmers through Electronic Warehouse Receipt Financing.

The NBP is now facilitating farmers in acquiring loans through Electronic Warehouse Receipt Financing (EWRF). The simple process will allow farmers to open their accounts, provide collateral and receive a loan up to 70 percent of the collateral’s price.

EWRF system aims to make farmers’ journey easy and profitable from crop cultivation to sale. The loan facility can be obtained for a period of up to 6 months by securing an electronic warehouse receipt as collateral.

To open an account in the electronic warehouse receipt the farmers can contact the warehouse operator of Naymat Collateral Company Management with their CNIC and photo.

After account opening, farmers can store their products in the relevant warehouse, where after confirming the quality and quantity, the warehouse receipt will be issued. Farmers can use this receipt to obtain the loan from the bank where required support will be extended to complete the documentation process to avail loan facility as per needs.

EWRF also facilitate the applicant to pay back the dues when the farmers have a fair price for crops, thus giving them the advantage to have a return on their harvest after paying warehouse rent and Naymat collateral fee.

Copyright Business Recorder, 2022

Comments

Comments are closed.