Habib Bank Launches HBL Zarai Services for Agri Development

Habib Bank Launches HBL Zarai Services for Agri Development

Burewala, February 26, 2024 –Habib Bank Limited (HBL) unveiled its latest venture, HBL Zarai Services, in Burewala on Monday for advancing agricultural development and bolstering food security in Pakistan,

This strategic move aligns with Pakistan’s national priorities and operates within the visionary framework of the Aga Khan Development Network (AKDN).

HBL Zarai Services, a fully owned subsidiary of HBL, emerges as the pioneering agriculture-specialized extension services company in Pakistan. With a mission to empower farmers and enhance productivity, efficiency, and profitability along the agriculture value chain, HBL Zarai Services aims to provide access to essential resources and expertise. Emphasizing sustainability and environmental stewardship, the company is committed to promoting responsible agricultural practices that ensure the long-term viability of farming communities and natural resources.

Expressing gratitude to the State Bank of Pakistan (SBP) and regulatory authorities for the trust and confidence bestowed upon HBL, the launch ceremony of HBL Zarai Services was attended by clients, regulators, and senior executives of the bank. Dr. Inayat Hussain, Deputy Governor of SBP, served as the Chief Guest for the event.

Sultan Ali Allana, Chairman of HBL, highlighted the bank’s longstanding commitment to the growth and progress of the agricultural sector. He stated, “Since the privatization of the bank in 2004, HBL Group has actively pursued programs and introduced solutions for the Agricultural Sector. HBL Zarai is a testament to our dedication, and we aim to provide advisory and input services along with offtake and warehousing directly at the farmers’ doorstep through dedicated distribution and service centers, ensuring food security and income enhancement for farming communities nationwide.”

Muhammad Aurangzeb, President & CEO of HBL, underscored the bank’s unwavering dedication to sustainability. He remarked, “Pakistan’s agricultural landscape stands at a critical juncture. While agriculture remains the backbone of our economy, its potential to drive growth and prosperity has yet to be fully realized. HBL Zarai Services emerges as a beacon of hope, signaling our commitment to fostering positive change and promoting food security across the nation.”

Amer Aziz, CEO of HBL Zarai Services, outlined the unique position of this venture, stating, “This unique venture positions HBL to play a leading role in improving value chains across every economically significant sector, fostering sustainable agricultural practices, and promoting food security nationwide. The prime values that HBL Zarai holds will remain raising farm yields and empowering farmers by increasing their income levels. We will be guided by our vision of ‘We are who we serve’.”

HBL Zarai Services’ comprehensive approach, combining advisory services, input support, and efficient distribution channels, reflects a holistic strategy to address the challenges faced by the agricultural sector in Pakistan. The company aims to contribute significantly to the nation’s goal of achieving sustainable and inclusive agricultural growth, marking a new chapter in HBL’s commitment to the economic prosperity of the country.