ADFIAP increases to 79 members

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The ADFIAP Board has approved the membership of three more institutions – Zarai Taraqiati Bank Limited (Pakistan); National Housing Bank (India) and the Bank Keshavarzi (Iran) during their 65th meeting on May 9, 2007 in Hanoi, Vietnam, increasing the Association’s membership to 79 in 36 countries and territories spanning the Asia-Pacific region.

Zarai Taraqiati Bank Limited (ZTBL) erstwhile Agricultural Development Bank of Pakistan (ADBP) is the premier financial institution geared towards the development of agriculture sector through provision of financial services and technical know how. The restructuring of former ADBP is being carried out with the aim to uplift the agriculture and rural sector by raising farm productivity, streamlining the institutional credit and increasing income generating capacity of the farming community. ZTBL was incorporated as a Public Limited Company on 14th December, 2002 through repeal of ADB Ordinance of 1961.

National Housing Bank (NHB) was established on July 9, 1988 under an Act of the Parliament, i.e., the National Housing Bank Act, 1987 to function as a principal agency to promote Housing Finance Institutions and to provide financial and other support to such institutions. The Act empowers NHB to issue directions to housing finance institutions to ensure their growth on sound lines; make loans and advances and render any other form of financial assistance to scheduled banks and housing finance institutions or to any authority established by or under any Central, State or Provincial Act and engaged in slum improvement and formulate schemes for the purpose of mobilisation of resources and extension of credit for housing.

Bank Keshavarzi was founded in 1933 as Farming and Industrial Bank. Today, having 71 years of experience, it serves as the only specialized financial institution in the agricultural sector that holds over 1800 branches nationwide and finances nearly 70% of the sector. During the past decade, the bank has been successful in meeting its mission and objectives, especially the required finances of the agricultural sector, through active participation in financial markets and relying on adequate resource mobilization.

Credit and savings growth of the bank, presumably the two essential pillars in banking operations, represent a brighter horizon and remarkable prosperities in achieving the today standards of a modern and developed bank.

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