PESHAWAR – In its endeavor to improve access to finance to the farming community, State Bank of Pakistan has been conducting financial literacy & awareness programmes for farmers at grass root level.
This was stated by Nadeem Khanzada, Joint Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan (SBP), while speaking at one-day ‘Farmers’ Financial Literacy & Awareness Programme on Agricultural Financing’, which was organised in collaboration with Bank of Khyber (BoK) at Swabi.
He said that SBP’s multi-pronged strategy to increase agri 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 showed 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 agri financing products &services offered by banks, money management techniques and lending procedures, documentations, etc.
Besides, it would develop capacity of agri field officers of banks in agri financing and synergize the efforts of all stakeholders including policy makers, executing agencies, service providers & farming community to improve access to agri credit, he added.
The program was attended, among others, by Dr Faisal Anwar, Registrar Swabi University; Gul Kiaz, Head Agri-Business, Feroz Khan, Deputy Chief Manager, SBP BSC Peshawar, bankers and representatives of Agri Extension Department &farmers.
The inaugural session was followed by a technical session for the agri credit staff of banks in which Nadeem Khanzada, Joint Director, State Bank of Pakistan made detailed presentation. The purpose of this technical session was to train the agri 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 the 3rd phase of a country-wide ‘Farmers’ Financial Literacy& Awareness program on Agricultural Financing’ which is being conducted in the selected agri-intensive districts of all the provinces of the country.
Source: The Nation