The Agricultural Development Fund (ADF) has contracted a house of expertise in the field of agricultural finance, as part of the Fund's strategic transformation program, which consists of ten initiatives, including the credit operations initiative, where work was done to develop the credit regulation by applying international best practices in the fields of lending, collection, guarantees and credit risks.

This step is in line with the policies and statutes of the Agricultural Fund after the preparation of the credit regulation was completed and was applied at the end of the first quarter of the current fiscal year. This step is in line with the Agricultural Fund's policies and statutes after the credit regulation was finalized and implemented at the end of the first quarter of the current fiscal year.

Complementing the Fund's initiative to provide the best services to investors by allowing them to apply electronically and follow up all stages of the application automatically, reduce the duration of the study and raise the efficiency of work, the Director General of the Agricultural Development Fund, Munir bin Fahad Al Sahli, launched the new lending system project (Rafid), where the Fusion Banking Essence system will be applied from a company specialized in developing lending systems.

This step is in line with the policies of the Agricultural Fund and its basic system after the preparation of the credit regulation, which was applied at the end of the first quarter of the current fiscal year. The project aims to raise the level of work productivity and provide better service to the Fund's customers by applying international best practices through major international banking technology systems designed to meet the needs of the Fund and its customers, develop lending mechanisms, shorten the time period for obtaining funding, increase the efficiency of collection operations, and build a unified and updated information base for the Fund's customers.

It is worth mentioning that the new lending system project (RAFAD) will be implemented by a company specialized in developing lending systems. It is worth mentioning that the Agricultural Development Fund launched in the middle of the fiscal year 1437-1438 AH (2016) its new strategy that is in line with the National Transformation Program 2020 and the Kingdom's Vision 2030, in line with the state programs in the agricultural sector and the policies of the Ministry of Environment, Water and Agriculture.