Agriculture sector to be developed at grass-root level
August 29-2013
PESHAWAR: Senior Joint Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan (SBP), Mohammad Imaduddin has said that the central bank is conducting financial literacy and awareness programs at grass-root level to improve access of the farming community to finance.
He expressed these views while inaugurating a one-day ‘Farmers’ Financial Literacy & Awareness program on Agricultural Financing’ in collaboration with Bank of Khyber at District Haripur. He said that the SBP’s multi-pronged strategy to increase agricultural credit outreach includes mainstreaming of agriculture finance, removing policy and regulatory impediments, capacity building of commercial banks and information dissemination and awareness building campaigns for the farming community.
Highlighting the objective of Farmers Financial Literacy & Awareness Program, he said that the program shows the commitment of the State Bank and the banking sector to develop the agriculture sector at grass root level.
He said the program is aimed at creating awareness among the farming community about agricultural financing products & services offered by banks, money management techniques and lending procedures, documentations, etc.
Besides, it would also develop capacity of agriculture field officers of banks in agricultural financing and synergize the efforts of all stakeholders including policy makers, executing agencies, service providers & farming community to improve access to agricultural credit, he added.
Besides, SBP Senior Joint Director Muhammad Imaduddin, BOK’s EVP & Group Head Credits, Imran Samad, SBP Joint Director, Ikramullah Qadri, SBP Chief Manager Rawalpindi, Asad Shah, BOK Head Agricultural Credits,. Gul Kiaz Khan, BOK Chief Manager Haripur Branch Malik Jehanzeb Khan, Head Agricult ural Department University of Haripur Dr. Hakim Khan, Progressive former of Haripur Daud-ur-Rehman, members of social community, Bankers and representatives of agricultural extension department farming community also attended the program.
The inaugural session was followed by a technical session for the agricutural credit staff of banks in which senior officials of SBP and BOK made detailed presentations. The purpose of this technical session was to train the agricultural finance officials of banks enabling them to conduct the farmers’ financial literacy programs at their end.
A farmers’ session was also held to educate the farming community about the products and services offered by financial institutions, their rights and duties as customers of financial institutions as well as money management skills to enable them to use their limited financial resources in a more prudent manner.
It may be pointed out that the State Bank of Pakistan in collaboration with SBP BSC & commercial/microfinance banks has launched a country-wide ‘Farmers’ Financial Literacy & Awareness program on Agricultural Financing’ which is being conducted in the selected agriculture-intensive districts in all provinces of the country.
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Courtesy Business Recorder