Banks have teams ready to help in times of trouble
30 April 2021
The National Farmers’ Federation and Australian banks have agreed to hold a regular summit to discuss issues affecting farmers across Australia.
The first meeting was held this week, attended by NFF CEO Tony Mahar and ABA CEO Anna Bligh, along with representatives from banks and state and territory farming bodies.
NFF CEO Tony Mahar said farmers depended on a strong banking sector and the relationship between agriculture and lenders worked best when each other’s expectations and responsibilities were understood.
“Farmers have faced no shortage of challenges in the past five years, and at the heart of effectively meeting these challenges has been a farmer’s relationship with their bank.”, Mr Mahar said.
“Sustainable farms are productive and profitable farms which is the end goal for farmers and lenders alike”
NFF CEO Tony Mahar
ABA CEO Anna Bligh said the meeting was a vital forum to ensure that banks and farmers are working together on key challenges such as drought and climate change mitigation.
“Agriculture is a critical part of the Australian economy. Banks worked closely with the NFF through the drought and this ongoing dialogue will be crucial as the nation recovers from COVID-19″, Ms Bligh said.
The NFF and the ABA discussed their mutual interest in sustainability, climate change and a reduced emissions future, and animal welfare.
“Agriculture is a critical part of the Australian economy. Banks worked closely with the NFF through the drought and this ongoing dialogue will be crucial as the nation recovers from COVID-19″
ABA CEO Anna Bligh
As part of the Federal Government’s National Drought Forum, the NFF and its membership have been tasked by Agriculture & Drought Minister, David Littleproud to work with the ABA, accountants and financial advisors on ensuring farmers build resilience and are better prepared for future droughts.
“Sustainable farms are productive and profitable farms which is the end goal for farmers and lenders alike”, Mr Mahar said.
The meeting also discussed a nationally consistent farm debt mediation scheme.
Banks and farming organisations will meet again in October.
Latest news
Australia’s banks welcome the passing through the Senate of new legislation to ensure payments laws are up-to-date and reflect today’s digital economy. The new laws will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly enhancing protections for customers. ABA CEO Simon Birmingham said… Read more »
The ABA welcomes the passage through the House of critical legislation to ensure Australia’s payments regulatory framework is brought up-to-date and urges the Senate to quickly pass this overdue legislation too. The proposed legislation will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly… Read more »
With the AFL and NRL finals about to kick off and demand for tickets set to surge, the Australian Banking Association is warning footy fans to be on the lookout for scammers. The ABA is issuing this warning during Scams Awareness Week and as tickets for the AFL finals go on sale from today. … Read more »