Responsible Finance Forum

Client Satisfaction In Microfinance Program

S. M. Rahman
01 August 2006
Source:  Increasing Capacities of Organizations in Microfinance (INCOME)-III
 
 CARE Bangladesh

CARE Bangladesh through its microfinance project called INCOME III aims to increase access to financial services for the poor in Bangladesh. Improved access allows the poor to save and borrow money to meet their investment and consumptions needs. Access to microfinance has a strong correlation with poverty reduction. The INCOME III project operates in urban and per-urban areas of three big cities viz. Dhaka, Chittagong and Khulna with more than 30 partner MFIs, which provide financial services to the poor.The project builds capacity of these MFIs and provides them with capital to expand their operations. The impact of the project has been positive, reaching more than 250,000 clients. In addition, the project has provided training combined with technical assistance to build the capacity of the partners that include corporate governance, financial accounting, product development, framing business plan development, carrying out participatory institutional assessment and mainstreaming gender issue. As a result of this support, the efficiency of service delivery and financial sustainability of the partner MFI shave significantly increased. Despite all these things, very little could be known from the client side. It occurred to the project management that so far no research or study has been carried out to know the feedback of the clients, their likes and dislikes on the products & services that are being offered to them. There is no denying that the clients are at the focal point of the microfinance program but their reactions have indeed remained largely unknown. In order to enable the MFIs to know what the clients think about the programs, what the MFIs’ role should be in this context, the project management has decided to galvanize the MFIs on the issue by commissioning the study on Client Satisfaction. We believe that client satisfaction is the essence of market competition that will lead to providing quality products and services. The objective of the study was primarily to know the likes and dislikes of the clients using SEEP Tools and gathering institutional experiences of the partner MFIs and other best practices at the national level contributing to client satisfaction.