The Smart Campaign commends company’s staff training on ethical behavior
Washington, DC, June 2, 2011 — The Smart Campaign, a global initiative to incorporate strong client protection principles across the microfinance industry, today recognized Compartamos Banco for its efforts to train staff on institutional standards of ethical behavior.
Compartamos Banco’s tool, “Compartamos’ Philosophy: Our Way of Thinking and Acting” is a short PowerPoint presentation that introduces staff to the company’s approach to ethics. “Compartamos Banco has not only developed a detailed Code of Ethics and Conduct, but they also created training materials aimed at clearly communicating that code to all employees,” said Smart Campaign Tool Development Specialist Leah Wardle.
In its Call for Tools, the Smart Campaign asked microfinance institutions (MFIs) from around the world to submit examples of their staff training materials on ethical behavior to showcase in its collection of client protection resources. Compartamos Banco has already been the subject of a Smart Note—a mini case study—on creating a culture of strong ethical behavior among staff. The new tool, “Compartamos’ Philosophy: Our Way of Thinking and Acting” adds a concrete example to that case study, and provides the industry with a good example of how to introduce staff to company ethics and values.
The Smart Campaign’s Client Protection Principles state that MFIs must maintain high ethical standards in their interactions with microfinance clients and ensure that adequate safeguards are in place to detect and correct corruption or mistreatment of clients. In practice, that means training staff on ethical standards, and making sure that each employee clearly understands when and how those standards are applied. Compartamos Banco’s tool, “Compartamos’ Philosophy: Our Way of Thinking and Acting” is one of many tools available on the Smart Campaign’s website, www.smartcampaign.org.
“Through our regular Call for Tools, the Smart Campaign is compiling the best resources on client protection available in the microfinance industry, and making them available to organizations worldwide through online toolkits,” said Smart Campaign Director Isabelle Barrès.
About the Smart Campaign
The Smart Campaign is a global campaign consisting of microfinance leaders from around the world who believe that protecting clients is not only the right thing to do but the smart thing to do. To date, over 1,871 microfinance and other financial institutions, microfinance support organizations, investors, donors, and individual industry professionals have pledged adherence to the Smart Campaign’s core Client Protection Principles. By providing microfinance institutions with the tools and resources they need to deliver transparent, respectful, and prudent financial services to all clients, the Smart Campaign is helping the industry maintain a dual focus on improving clients’ lives while attaining financial sustainability. The Campaign is headquartered at the Center for Financial Inclusion (CFI) at ACCION International and is governed by a Steering Committee representing a broad cross-section of the industry.
About Compartamos Banco
Compartamos Banco is a Mexican bank that strives to generate social economic and human value. Launched as an NGO in 1990, Compartamos Banco offers its clients credit, savings, and insurance products, as well as financial education. In 2001 it became the first microcredit lender in the world to issue debt in the capital markets. In 2010 Compartamos Banco reached 1,961,995 active clients and a total loan portfolio of nearly US $835.5 million. In that year, it was also named “Best Sustainable Financial Institution” in Mexico by The New Economy Magazine.
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Contact:
Charlotte ConnorsManager, Operations and Communications
The Smart Campaign
Tel. +1 202-393-5113 ext 1667
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