Islamabad – September 01, 2021: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has signed a Memorandum of Understanding (MoU) with Fecto Belarus Tractors Private Limited (FBTL), a pioneer in introducing Russian-based technology tractors in Pakistan since 1962. Under this collaboration, customers will be able to finance FBTL Tractors through MMBL’s range of agri-products.
Ghazanfar Azzam, President and CEO MMBL, and CEO FBTL, Muhammad Raza signed the MoU in Islamabad in presence of senior officials from both organizations. The arrangement will further strengthen MMBL’s agri-products portfolio that caters to the various financial needs of smallholder farmers across the country.
Sharing his thoughts at the MoU signing ceremony, Ghazanfar Azzam, President & CEO MMBL said, “We are excited to expand our range of agri-products offerings by allowing our customers to finance FBTL’s tractors through MMBL. Pakistan’s agriculture sector has a lot of untapped potential. Over the years, MMBL has provided continuous financial facilitation to the country’s farmers and agribusinesses through its wide range of agri-products designed to meet their specific financial needs. Under our collaboration with FBTL, we hope to significantly benefit smallholder farmers by helping them acquire better machines based on superior technology and thereby accelerate the growth of the country’s agricultural sector.”
Also speaking at the ceremony, CEO FBTL Pakistan, Muhammad Raza said, “We are glad to partner up with MMBL to offer FBTL’s flagship tractor Belarus – 510 to their customers. FBTL has been providing superior quality and high-performance agricultural machinery to enhance agricultural output in Pakistan for decades. These tractors are very effective in hard and rocky soils in different areas of Pakistan. Our country’s economy is heavily dependent on its agriculture sector and therefore, it is crucial to constantly optimize its productivity through innovation and modernization. I am positive that through this collaboration with MMBL, we will be able to foster the agricultural sector development in Pakistan further.”
MMBL is committed to promoting financial inclusion for all through its vast product portfolio comprising of digital and financial services, made accessible through its expansive branch and branchless network spread across Pakistan, including remote areas. The bank has a custom product range to cater to the varying financial requirements of small farming families to help them grow their businesses and contribute towards the country’s GDP.
About MMBL
MMBL is Pakistan’s largest digital bank with over 34 million registered users including 14 million monthly active digital wallets. MMBL is a leading player in lending to small and medium-sized enterprises with over 800,000 traditional individual and micro-enterprise loans disbursed, alongside more than 11,000,00 digital nano loans disbursed till August 2021. MMBL is currently operating through 100 branches and a nationwide network of over 135,000 branchless banking agents. MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan and also won a CSR award in the category of “Diversity & Inclusion Leader” by The Professionals Network. It is the only bank in Pakistan, microfinance or commercial, that was recognized by PACRA recently, as having a ‘Positive Outlook’ and continues to remain outside the agency’s Watchlist. Further, the Institute of Bankers Pakistan has also recognized MMBL as “Bank of the Unbanked” in recent years.
