Faysal Bank and Waseela ink MoU to Finance Farmers

KARACHI: Faysal Bank Ltd on Wednesday signed a memorandum of understanding (MoU) with Waseela Pakistan to provide fast-track, Shariah-compliant financing to support farmers in meeting their agricultural needs.

The partnership will offer quick and hassle-free access to finance through digital solutions, reducing farmers’ dependence on middlemen.

Financing will be provided under the Electronic Warehouse Receipt framework to improve transparency, efficiency and risk management in the agricultural supply chain.

By combining Faysal Bank’s expertise in Islamic finance with Waseela Pakistan’s farmer networks and on-ground support, the initiative aims to improve access to finance, boost productivity and promote financial inclusion.

Faysal Bank President and Chief Executive Officer Yousaf Hussain said agriculture is important for Pakistan’s economy and requires timely, Shariah-compliant financing for sustainable growth.

Waseela Chief Executive Officer Tania Aidrus said the partnership will help expand responsible financial access to farmers who have long been underserved by the formal banking system.