Pakistan’s largest digital bank, Mobilink Microfinance Bank Ltd (MMBL), has partnered with BaKhabar Kissan (BKK), a leading agri-tech enterprise that provides advisory services to small and medium farmers across the country.
Through this strategic alliance, smart digital financial and agri-tech solutions will be offered to MMBL’s growing base of agri-customers to help farmers identify, assess and monitor crop type, weather and land conditions, livestock, and other key agriculture and environment-related indicators to boost income and agricultural produce.
President & CEO MMBL, Ghazanfar Azzam, and CEO BKK, Khizer Alam Khan signed the agreement in Islamabad, with senior officials from both organizations in presence.
Under this partnership, MMBL will empower its agri-borrowers using smart digital financial solutions to boost their agricultural output. This alliance will not only improve digital financial literacy rates among farmers but also, provide them access to a round-the-clock advisory from Agri-experts on crop management with a focus on increasing yield and income.
Speaking about the partnership, Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr, said, “The use of optimized digital financial services in the agricultural sector of Pakistan is the need of the hour that has the potential of providing farmers with better access to agri-commerce, crop & livestock advisory, weather conditions, and disaster management.”
“Through this 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,” he added.
Also speaking at the occasion, Fuad Imran Khan, Chief Strategy Officer BKK, said, “BaKhabar Kissan is delighted to sign this agreement with MMBL. Farmers are at the front and center in all that we do at BaKhabar Kissan. 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,” he added.
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, Khushhal Kissaan Loan, Passbook Loan, Tractor Loan, Khushhal Kissaan 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 its borrowers agri-tech advisory services that will ensure improved profitability by decreasing both yield loss and input cost.