Listening...
Karachi, 4 January, 2021:
Naymat Collateral Management Company Ltd (NCMCL), Pakistan’s first collateral management company, has joined forces with HBL for the development of Electronic Warehouse Receipt (EWR) ecosystem in the country. Electronic Warehouse Receipt (EWR), the first of its kind in Pakistan, is a digital instrument which gives financial institutions real time information and access to farmers, traders, processors and aggregators who have placed their produce in an accredited warehouse, significantly reducing transaction costs and operational risks.
Through this agreement, HBL and NCMCL will work towards poverty alleviation and enhanced inclusive growth targeted towards the rural population of Pakistan. This partnership will ensure that rural communities get easy access to finance.
Kashif Umar Thanvi, Head - Rural Banking, HBL commented, “HBL is a market leader in farmer finance amongst commercial banks. The Bank has actively partnered with farmers across Pakistan for the timely provision of financial services to achieve the common objective of better crop yields and enhanced farm productivity. HBL is excited to partner with Naymat Collateral Management Company as this newly developed ecosystem will enhance financing to farmers and rural communities.”
Speaking on the occasion, Naveed Qazi – CEO, NCMCL stated, “Through this agreement, price anomalies that exist in the agricultural value chain will be eliminated and will save the small holder farmer from the distress sale of commodities.”
HBL and EXIM partner to boost SME exports 04 Jun 2024
HBL Islamic Banking continues to scale up its footprint in Pakistan 2024 03 Jun 2024
HBL and Agrilift join forces to accelerate digitization efforts in Pakistan’s agriculture sector 08 May 2024
HBL’s Q1’24 profit up 40% YoY to Rs 30.1 Billion, starting the year with robust business fundamentals 23 Apr 2024
HBL Tekken 8 Women’s Gaming Tournament Crowns Champions 22 Apr 2024
HBL brings Tekken tournament for women in Lahore 18 Apr 2024
In a remarkable act of national service, Muhammad Aurangzeb steps down as President & CEO - HBL 11 Mar 2024
HBL Zarai Services Pioneering Sustainable Agriculture for National Development 26 Feb 2024