Central farmers are calling on Government to change banking group First Citizens' policy of not allowing agricultural lands to be used as collateral for loans.

Led by Couva farmer Liaquat Ali, a group of Central farmers protested outside First Citizens' head office around the Queen's Park Savannah, Port of Spain, yesterday.

"The new Government is advocating agriculture and here, you have a State-run financial institution which is not accepting agricultural land as collateral for loans," said Ali.

"One of the farmers went to the bank to get a loan and was turned down because of that.

"I am hoping and praying that the Government will advise the board to change this policy, so that us poor farmers can be able to get loans, too."

First Citizens' chief executive Larry Howai said agricultural land used as collateral had to meet the bank's criteria.

"We do accept agricultural lands, but it must be properly approved. It has to meet our requirements in general," he said in a telephone interview yesterday.

"In other words, you may have a piece of land valued at $10,000 but it may tend to be flood-prone. If we use that land as collateral and you do not fulfil your loan payments, no one will want to buy that land from the bank because it floods."