KissanPay launches loans against stored crops for farmers
Kissan Gudam and aik by BankIslami have launched a Shariah compliant agri fintech platform that lets farmers borrow against commodities held in storage.
Kissan Gudam and aik by BankIslami have launched KissanPay, a platform that lets farmers borrow against crops they have put into storage. The two companies announced the launch on 8 October 2026 and describe it as Pakistan's first Shariah compliant agri fintech platform.
The launch took place at the Pakistan Agriculture Connections Expo 2026, which Kissan Gudam organised. It was inaugurated by Saleem Ullah, Deputy Governor of the State Bank of Pakistan, and Ahmed Umair, Coordinator to the Prime Minister on Agriculture and Food Security. The two officials also handed over the platform's first financing to a farmer at the event. The announcement did not say how much was lent.
The model is simple. Kissan Gudam, which is backed by Haji Sons Group, supplies warehousing and a network of farmers. aik, the digital Islamic banking service of BankIslami, supplies its Banking as a Service framework and the Shariah compliant financing. A farmer who stores a harvest can borrow against it, subject to eligibility criteria, instead of selling quickly to raise cash.
That problem is familiar. Many smallholders have no conventional collateral, and they often sell soon after harvest, when prices are weakest. The partners say they want to link the whole chain from harvest and storage to financing and liquidity.
“Speed is the difference between a fair price and a distress sale.”
Tahir said a farmer can go from opening a bank account to receiving financing in minutes rather than weeks. Ashfaque Ahmed, Chief Officer at aik by BankIslami, framed the product as embedded finance. He said the future of financial services lies in embedding banking into the ecosystems where economic activity takes place.
According to the statement, Saleem Ullah congratulated Haji Sons Group and aik by BankIslami and promised the State Bank's support. He said partnerships between banks, fintechs and agriculture could be a game changer for the sector. Senior officials from BankIslami and Haji Sons Group also attended and repeated their commitment to digital, Shariah compliant farm finance.
The statement gave no figures on loan limits, pricing, warehouse locations or the number of farmers expected to use the service, so it is too early to judge its reach. Reported from a company statement published by ProPakistani and coverage in Daily Pakistan.
