FLASHNEWS:

Bank Alfalah Introduces Pakistan’s First Digital Agriculture Financing Product

Islamabad, Bank Alfalah has announced the launch of Pakistan's first digital agriculture financing product, a pioneering initiative designed to empower small-scale farmers and entrepreneurs in the agriculture sector. This innovative financing tool offers dairy and equipment loans through a fully digital process, significantly enhancing access to financial services for rural communities. Since its inception, the program has disbursed over PKR 100 million, supporting the acquisition of 333 animals and aiding flood-affected areas, with women making up 24% of the beneficiaries.

According to Bank Alfalah, the new digital agriculture finance product aligns with the bank's 'Revive and Rise' initiative, which provides subsidized financing at a 2% rate to help farmers establish sustainable income streams and contribute to national economic development. The digital process allows customers to apply for various financing options via the 'Alfa' app, enabling them to select the type and quantity of animals and equipment needed with real-time credit assessment and instant loan disbursement. This initiative underscores Bank Alfalah's commitment to revitalizing Pakistan's agricultural sector and fostering financial inclusion across the country.