MFI Best Practices in Client Protection
Ranging from client grievance mechanisms to data privacy and more, these examples hightlight a few best practices at MFIs in Latin and America and India.
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WASHINGTON, DC, UNITED STATES (April 2014)- The Smart Campaign has worked tirelessly for over five years to embed the Client Protection Principles into the microfinance sector, and increasingly, the broader financial inclusion community. Yet until now, the Campaign has had minimal input from the very clients whose well-being drives the entire movement.
In order to better understand the concerns and experiences of the individuals who use microfinance, the Campaign has launched a client voice research and learning project. Through listening directly to clients, market stakeholders can raise awareness, dialogue with each other to identify potential issues, and in turn integrate this learning into their work. The Smart Campaign has a unique role in shining a light on potentially harmful or negative experiences that low-income users of financial services have had and bringing those experiences to the attention of those who can do something about them.Read more »
WASHINGTON, DC, UNITED STATES (March 2014)- On December 19, 2013, the Microfinance Unit at the Central Bank of Sudan organized and hosted the country’s first seminar on the Seven Client Protection Principles in a session called, “Protection of Microfinance Clients in Sudan''. 70 people attended including the former state Minister for Finance and National Economy, the Deputy Chairman of the economic committee in the National Assembly, MFI directors, government advisors, insurance company representatives, the Director of the Sudanese Microfinance Development Company, the Sudanese consumer protection society, journalists, and television channel reporters.Read more »
Crezcamos was certified in September 2013 by Microfinanza Rating. It provides transparent, appropriate, and responsible financial services for the development of entrepreneurial families in primarily the rural sector, establishing long-term relationships with its clients through excellence in service and efficient management of processes. The efforts of Crezcamos are focused on steady growth through optimal financial and operational performance to provide a satisfactory return for its shareholders. It strongly advocates respect and trust to its clients through innovation and catering to the individual needs of each.
Certification Awarded September 2013