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ENTÜMOSAN and Kuwait Turkish's Agricultural Investment and Production Collaboration
21 August 2024
Kuwait Turkish Expands Financial Support for Agricultural Investment and Production through Collaboration with TÜMOSAN
Kuwait Turkish has signed a protocol with TÜMOSAN, one of Turkey's leading tractor and diesel engine manufacturers, to enhance financial support for agricultural investment and production. This partnership will provide financial convenience for farmers and dealers across various areas, from tractor financing to spare parts and service services.
As Turkey's leading participation finance institution, Kuwait Turkish has entered into a new collaboration aimed at supporting agricultural investment and production. Under this partnership with TÜMOSAN, one of the country's prominent tractor manufacturers, Kuwait Turkish will offer financial support to farmers and TÜMOSAN dealers in several areas, including tractor financing and service services.
The signing ceremony took place at TÜMOSAN's General Directorate building, with Abdurrahman Delipoyraz, Deputy General Manager of SME Banking at Kuwait Turkish, and Halim Tosun, General Manager of TÜMOSAN, in attendance. As part of the collaboration, TÜMOSAN dealers will benefit from a wide range of financial solutions, including tractor financing and guarantee letter rates. Kuwait Turkish aims to ease the financial burden on farmers and promote economic growth in the agricultural sector, thereby contributing to the national economy.
"We are the First Participation Finance Institution to Collaborate with TÜMOSAN"
Abdurrahman Delipoyraz, Deputy General Manager of SME Banking at Kuwait Turkish, stated during the signing ceremony, “We are partnering with distinguished organizations to support agricultural investment and production. We are pleased to be the first participation finance institution to collaborate with TÜMOSAN, one of the long-standing giants of our industry and a significant producer of engines and tractors. With this collaboration, we advance our support for farmers and the agricultural sector. We will continue to provide effective solutions for the financial needs of farmers and form partnerships with leading institutions in the sector.”
"We Continue to Provide Sustainable Solutions for Farmers with Kuwait Turkish"
Halim Tosun, General Manager of TÜMOSAN, shared his thoughts on the collaboration, “We believe this new agreement will greatly benefit farmers and all stakeholders. Our partnership with Kuwait Turkish will further enhance the financial solutions and advantages we offer to our dealers, improving their business processes. Our goal is to respond to farmers' needs for tractors and other agricultural equipment effectively and support them in their sustainable and productive agricultural activities. I would like to thank the Kuwait Turkish management and all the team members involved in the protocol work, and I am confident that we will have a successful collaboration period.”
Financial Support for TÜMOSAN Dealers and Farmers
As part of the collaboration, Kuwait Turkish will offer dealers interest-free and annual payment options for tractor financing with contribution share. Dealers will also benefit from special rate guarantee letters and agreements with the Direct Debit System (DBS). Farmers will have the option of deferred payments of up to 12 months for service and spare parts purchases. Kuwait Turkish will also continue to provide support through the Tohum Card, which allows farmers to finance expenses for fuel, fertilizers, agricultural machinery, seeds, and feed, and defer payments until the harvest period.
