ifarmer, a participatory technology platform for agricultural financing and commodity delivery, plans to provide direct agricultural credit to farmers across the country from financial institutions. As part of this, iFarmer recently signed an agreement with United Commercial Bank Limited (UCB). Marking its third partnership with financial institutions, iFarmer is planning to provide agricultural loan facilities directly from financial institutions. The primary focus of this partnership is to facilitate agri loans for farmers.
The signatories of the agreement-signing ceremony were Jamil M Akbar, Managing Director & Chief Operations Officer from iFarmer, and Arif Quadri, Managing Director & CEO from UCB. On behalf of iFarmer, Mohd. Fahad Ifaz, Chief Executive Officer, and Tahmid Hasan, Head of Partnership & Growth, were present. Meanwhile, Nabil Mustafizur Rahman, Additional Managing Director, Md Shah Alam Bhuiyan, Deputy Managing Director, Mr. ATM Tahmiduzzaman, Deputy Managing Director, Mr. Md. Abdullah Al Mamoon, Deputy Managing Director, were present from UCB.
Fahad Ifaz, CEO & Co-Founder of iFarmer, said, “We are pleased to be able to partner up with United Commercial Bank Limited (UCB) to help the farmers of the country with the finances required. With the support of banks, we will be able to leverage farmer risk scores, field monitoring, and last-mile assistance to the farmers. In the near future, we are also planning to facilitate agricultural loans straight from the financial institutions.”
