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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Bangladesh (July 8, 2014)- BRAC and the Smart Campaign joined forces in hosting a workshop on client protection principles at the BRAC Centre. The Smart Campaign, represented by Dr Hema Bansal, Director, South East Asia and South Asia, received a welcome reception from over twenty representatives from across Bangladesh's microfinance sector.Read more »
Washington, D.C. (June 3, 2014) - Four additional institutions have been Smart Certified in client protection, bringing the total number of Smart-Certified institutions to 18. Located in Eastern Europe and Central Asia, these institutions are:Read more »
Finamérica S.A., Colombia
Finamérica strives to create jobs and improve the income of Colombia’s poorest communities by providing financial services to microentrepreneurs. It aims to maximize outreach while simultaneously pursuing financial sustainability. When it comes to appropriate product design and delivery, Finamérica is a regional leader in Latin America, being one of just three institutions piloting news ways to offer savings accounts to low-income microentrepreneurs. The organization has also launched a program to make the lending process easier and more efficient, reducing disbursement time from the average of five days to as little as 24 hours.
Certification Awarded August 2014