ISLAMABAD: Zarai Tarqiati Bank Ltd (ZTBL) and National Database and Registration Authority (Nadra) on Thursday signed ceremony on PM’s Youth, Business and Agriculture Loan Scheme (PMYBAL) for enhancing digitization for agriculture sector.

The signing ceremony took place between President ZTBL Asad Ullah Habib and Chairman Nadra Muhammad Tariq Malik here at ZTBL head office.

The signing ceremony is aimed at verification of the beneficiaries of PM Youth, Business and Agriculture Loan Scheme who will be granted loans by ZTBL under the scheme.

Under the PM’s Loan Scheme, ZTBL has been assigned the target of disbursing Rs7 billion in Tier 3. So far ZTBL has disbursed Rs480 million whereas bank has received approximately 5500 applications.

Speaking on the occasion, Chairman Nadra said ZTBL was the first bank in Pakistan that underwent digitization in 80s adding there was much room for digitization in the country.

Malik said Nadra was committed to facilitating subsistent farmers including female in financial inclusion in collaboration with ZTBL and assured to support the agriculture financing bank for national cause.

President ZTBL Asad Ullah Habib said ZTBL was the only bank that was financing 78 percent of farmers alone compared with the rest of commercial bank.

President ZTBL praised Tariq Malik for his personal involvement in revolutionizing Nadra and for introducing modern digitization in the country.

He said ZTBL will be in touch with Nadra for future endeavours including empowerment of women and bringing 7 million farmers into database so that maximum number of small farmers in the country get maximum benefits of modern technology.

Copyright Business Recorder, 2023