Bank Alfalah, a leading commercial and digital bank in Pakistan, has introduced the country's first digital agriculture financing product, aiming to empower small-scale farmers and entrepreneurs in the agriculture sector. This innovative product enables customers to access dairy and equipment financing through a seamless digital process, marking a significant milestone in Pakistan's financial landscape. Offering subsidized financing at a rate of 2 percent, the initiative seeks to establish sustainable income streams and contribute to the nation's economic development, particularly in flood-affected areas of Sindh. With over PKR 100 million disbursed and 333 animals acquired so far, including significant female participation, the initiative demonstrates a focused effort to uplift small-scale farmers and promote sustainable agricultural practices. Agriculture, constituting Pakistan's largest sector and contributing 24 percent to GDP, stands to benefit significantly from this initiative. Muhammad Yahya Khan, Bank Alfalah's chief digital officer, emphasized the bank's commitment to empowering the agriculture sector and promoting financial inclusion by providing swift, cost-effective, and user-friendly financing solutions to small-scale farmers and the broader agricultural industry.
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https://www.arabnews.com/node/2527611/pakistan
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