Agricultural sector of Pakistan has made significant contribution to the Gross Domestic Product (GDP). State Bank of Pakistan has always taken keen interest in providing credit facilities for agriculture sector to support existing farmers to expand their farming capacity and encourage people to invest more in the agriculture sector.
In order to promote the SBP initiative for SME sector and for Agri Financing, a memorandum of understanding (MoU) was signed between Al Baraka Bank (Pakistan) Limited & Al-Ghazi Tractors Limited, for the facilitation of 'Tractor Financing' at Al Baraka House, Karachi. This MoU will allow the farmers and agriculturists to avail Shariah compliant financing options for rural financing including financing of tractors and other credit facilities, with quicker processing and flexible payment options.
Al-Ghazi Tractors Limited has a strong background with more than 20 years of experience in tractor manufacturing and spare parts. Al Baraka Bank (Pakistan) Limited (ABPL) is a part of Al Baraka Banking Group, Bahrain, which represents one of the oldest and most experienced Islamic Financial Institutions in the world, today.-PR