This draft guidance is intended to engage participants in developing a consensus on the meaning and interpretation of each of the Client Protection Principles (CPPs). It gives general guidance on how each principle should be applied. The document is based on a slightly revised list of principles from the original six developed in 2008 which formed the basis of the Smart Campaign. The changes are proposed in order to open […]

Social, responsible, sustainable – these are the new buzz words when it comes to conducting business. We hear and read them every day in the news, more in reference to how things should be than to how things actually are. Corporate social responsibility was first conceived as a kind of separate wing of the enterprise, where it engaged in activities purported to serve society. But now society demands enterprises integrate […]

This publication can also be found on the World Bank website. Until the financial crisis of 2007-09, the global economy was adding an estimated 150 million new consumers of financial services each year. Rates of increase have since slowed but growth continues apace. The financial crisis highlighted the importance of financial consumer protection for the long-term stability of the global financial system. At the same time, rapid increases in the […]

When people have low levels of financial literacy, they often make unproductive financial decisions: they spend their money in suboptimal ways, borrow too much, save too little, and miss opportunities for investing. By communicating the knowledge, skills, and attitudes associated with sound money management, financial education can offer these individuals the means to use their scarce financial resources more effectively and to choose the financial services and products that best […]

Global sustainable development challenges such as climate change or poverty cannot be addressed without Responsible Finance – finance that integrates social, environmental and governance concerns into the lending and investment decision making of financial institutions. Responsible financial systems can contribute to the goal of sustainable economic development through promoting business innovation and strengthening economic,environmental and social responsible behavior of businesses. Businesses need access to capital, credit or equity to expand […]

Between 500 million and 800 million of the world’s poor now hav eaccess to finance—yet our research suggests that only 110 million to 130 million of that number have received any sort of financial capability training. In other words, only 25% of these many millions have been taught how to use their new found access to the world of formal finance wisely and to their advantage. That leaves 75%—a staggering […]

Over the past five years, the microcredit sector has experienced unprecedented growth. The number of borrowers served by microfinance institutions (MFIs) has increased threefold to reach 120 million clients, according to MIX estimates as of December 2009—and by other estimates the number may be as high 190 million (Microcredit Summit Campaign 2011). In large markets, such as Mexico and South Africa, commercial banks and consumer lending companies have expanded their […]