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Trust Through Transparency Policy for Success. Example of ACDI/VOCA Frontiers-Kyrgyzstan SEEP October 2005. Target the right clients Enforce contractual obligations Retain customers and adapt services to their needs. Discrimination Pressure to borrow Hidden costs No choice Cheated.

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trust through transparency policy for success

Trust Through TransparencyPolicy for Success

Example of ACDI/VOCA Frontiers-Kyrgyzstan

SEEP October 2005

customer perceptions of microfinance institutions
Target the right clients

Enforce contractual obligations

Retain customers and adapt services to their needs

Discrimination

Pressure to borrow

Hidden costs

No choice

Cheated

Customer Perceptions of Microfinance Institutions

MFIs Customers

seep network issues identified
SEEP Network Issues Identified
  • Cost of Debt
  • Transparency
  • Over-indebtedness
  • Compliance
  • Aggressive collections
  • Poor customer service
  • Misused savings
  • Inappropriate security for loans
seep pro client working group
SEEP Pro-Client Working group
  • Objective

To promote a trusting relationship between MFIs and customers through transparency.

  • Method

Adoption by MFIs and national microfinance associations of Codes of Practice for Client Protection

seep template for developing a code of practice
SEEP Template for developing a Code of Practice

Benefits of a Code of Practice in Consumer Protection

  • higher degree of professionalism
  • higher degree of consumer confidence
  • differentiation between scrupulous and unscrupulous service providers
  • fend-off burdensome regulation

Code of Practice = practical, specific, verifiable

seep template themes
SEEP Template Themes
  • Operations/Products and Services
    • Marketing, Distribution, Pricing, Collections
  • Transparency
    • Disclosure and accessibility
  • Community Engagement
    • Customer education, satisfaction, questionable practices
  • Accountability
    • Compliance and complaints
proposed pro client principles
Proposed Pro-Client Principles
  • Quality of Service
  • Dignified Treatment
  • Truthful and Transparent Information
  • Appropriate Pricing
  • Protection from Unethical and Illegal Practices
  • Privacy of Client Information
seep members agree to
SEEP members agree to:
  • Apply these principles in their own organizations.
  • Promote the widespread application of these principles among member implementing institutions.
  • Raise awareness about the importance of pro-client principles where SEEP members work around the world.
acdi voca frontiers kyrgyzstan trust through transparency policy
ACDI/VOCA Frontiers- Kyrgyzstan Trust Through Transparency Policy
  • Appropriate Pricing
  • Protection from Unethical and Illegal Practices
  • Privacy of Client Information
acdi voca frontiers kyrgyzstan trust through transparency policy1
ACDI/VOCA Frontiers- Kyrgyzstan Trust Through Transparency Policy
  • Dignified treatment
  • Disclosure and accessibility- truthful and transparent information
  • Customer satisfaction, quality of service
acdi voca frontiers kyrgyzstan trust through transparency policy2
ACDI/VOCA Frontiers- Kyrgyzstan Trust Through Transparency Policy

Enforcement:

  • Access to General Manager- open door policy -complaints
  • Follow-up and corrective measures for compliance
  • Suggestions for process improvement