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U Microfinance Bank and Digitt+ Partner to Revolutionize Agricultural Financing in Pakistan
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In a groundbreaking move, U Microfinance Bank and Digitt+, a leading agri-fintech firm, have joined forces in a monumental PKR 10 billion partnership, reshaping financial dynamics within Pakistan’s agricultural sector.
This collaborative endeavor amalgamates Digitt+‘s cutting-edge, in-house payment infrastructure with U Bank’s extensive lending proficiency, marking the dawn of a new era for tailored financial solutions tailored specifically for Pakistani farmers.
Focused initially on streamlining financial transactions for farmers in Kanjwani, Muzaffargarh, and DI Khan, the partnership has already successfully disbursed PKR 500 million. Beyond facilitating swifter transactions, this initiative empowers farmers with timely access to vital resources, thereby augmenting productivity and bolstering economic stability.
Ahmed Saleemi, CEO of Digitt+, expressed, “This partnership underscores the profound impact that fintech and traditional banking collaboration can have on an industry. By melding our specialized payment solutions with U Bank’s financial services, we are setting a gold standard for others in both the fintech and banking sectors to emulate.”
Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, affirmed, “Our collaboration with Digitt+ epitomizes our commitment to innovate and deliver value to Pakistan’s agricultural sector. The successful disbursement of the initial PKR 500 million is merely the commencement. We are dedicated to leveraging this partnership to enhance the financial well-being of farmers nationwide.”
Notably, the partnership has substantially reduced payment times for farmers, optimizing cash flow management and enabling prompt reinvestment in agricultural operations. Such improvements in the financial pipeline are paramount in fostering growth and sustainability within the agricultural domain.
U Bank and Digitt+ are resolutely committed to advancing this initiative further, with aspirations to expand its reach to additional regions and fulfill the comprehensive PKR 10 billion commitment.
