ISLAMABAD: Pakistan’s largest digital bank, the Mobilink Microfinance Bank Ltd, has partnered with BaKhabarKissan (BKK), a leading agri-tech enterprise that provides advisory services to farmers, to offer digital, financial and agri-tech solutions to MMBL’s growing base of agri-customers.
The initiative is primarily aimed at helping farmers identify, assess and monitor crop types, and weather and land conditions, and also get information about livestock and other key agriculture- and environment-related indicators to boost income and produce.
President and CEO of MMBL Ghazanfar Azzam and CEO of BKK Khizer Alam Khan signed the agreement papers in the presence of senior officials of the two organisations.
Under the partnership, MMBL will empower its agri-borrowers using smart digital financial solutions to boost their agricultural output. The alliance will not only improve digital financial literacy rates among farmers but also provide them with access to round-the-clock advisory services on crop management with a focus on increasing yield and income.
Speaking on the occasion about the partnership, MMBL’s Chief Finance and Digital Officer Sardar Mohammad Abubakr said: “The use of optimised digital financial services in the agricultural sector of Pakistan is the need of the hour (and) has the potential of providing farmers with better access to agri-commerce, crop and livestock advisory, (and information about) weather conditions and disaster management.
“Through the partnership, MMBL is dedicated to strengthening the agri-tech landscape in Pakistan by digitally enabling our increasing agricultural farmers, comprising 63% of MMBL’s total customer base.”
For his part, Fuad Imran Khan, BBK’s chief strategy officer, said: “BaKhabarKissan is delighted to sign this agreement with MMBL. Farmers are in the front and at the centre of all that we do at BaKhabarKissan. This agreement will go a long way towards promoting financial inclusion in agriculture which in many ways is the most important, yet one of the most neglected, sectors of our economy.
Timely provision of credit to farmers, particularly smallholder farmers is an important ingredient in ensuring good farm productivity and quality. With MMBL, we will move the needle in agriculture productivity and contribute towards a more prosperous Pakistan.”
The initiative will be offered to MMBL’s agricultural borrowers through its expansive network across Pakistan to adopt better and improved agriculture methods and solutions to boost productivity and efficiency. MMBL through, KhushhalKissaan Loan, Passbook Loan, Tractor Loan, KhushhalKissaan Value Chain, and Livestock Loan is actively working towards improving farmers’ access to finance.
With its partnership with BKK, the bank is committed to bringing to its borrowers agri-tech advisory services that will ensure improved profitability by decreasing both yield loss and input cost.
Copyright Business Recorder, 2022