The Smart Campaign applauds 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 Grameen Financial Services Pvt. Ltd. (GFSPL) for its efforts to train staff on institutional standards of ethical behavior. GFSPL was honored by the Smart Campaign’s “Call for Tools: Training Staff for Ethical Behavior” for its “Code of Conduct E-learning Module,” which tests employees’ knowledge of workplace ethics.

“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 our collection of client protection resources,” said Smart Campaign Tool Development Specialist Leah Wardle. “GFSPL was selected as a winner because its “Code of Conduct E-learning Module” provides a very practical example of how MFIs can check that employees understand the institution’s ethical standards. Training on ethics is essential, but equally important is knowing whether or not staff understand what they are taught.”

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. GFSPL submitted a questionnaire used to test employee understanding of the MFI’s code of conduct. Every GFSPL employee must successfully complete the questionnaire as a requirement for employment. “By making sure that all staff members have a thorough understanding of its ethical standards, GFSPL takes a first, critical step towards making sure that those standards are uniformly implemented,” said Wardle. GFSPL’s “Code of Conduct E-learning Module” 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 Grameen Financial Services Pvt. Ltd.

Grameen Financial Services Pvt. Ltd. (GFSPL) is an Indian non-banking financial company that strives to enable economic and social change in poor and low-income households. Launched in 1999 as Grameen Koota, GFSPL offers its clients credit, savings, and insurance products, as well as non-financial development services. GFSPL has won numerous awards and accolades, including being named by MIX Market as the #1 MFI in India and the #4 MFI worldwide in 2010.

*  *  *

Contact:

Charlotte Connors
Manager, Operations and Communications
The Smart Campaign
Tel. +1 202-393-5113 ext 1667
This e-mail address is being protected from spambots. You need JavaScript enabled to view it