Publications

Collections with Dignity at FinComún

01 May 2014
  • Cara Forster

In 2008, while facing rising default rates, FinComún implemented a new collections philosophy in order to support clients facing the global financial crisis and combat rising default rates. The new philosophy,Collections with Dignity, is based on the belief that collections agents should treat clients how they themselves would like to be treated. By focusing on client outcomes as well as loan recovery,FinComún was able to strengthen relationships with clients, increase […]

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Compartamos: Building institutional culture around a code of Ethics

01 May 2014
  • Cara Forster

Staff ethics have been at the heart of Compartamos Banco’s institutional culture since its inception. Com-partamos began as an NGO in 1990, lending to women microentrepreneurs in Mexico. By 2006, the institution had transformed from an NGO into a commercial bank. Although it now has 1.2 million clients and its staff has nearly quadrupled to almost 6,000, the bank always maintained a spirited institutional culture. Compartamos established a formal Code […]

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Implementing Client Protection in Microfinance

01 May 2014
  • Daniel Rozas

Recognizing a need to make the commitment to client well-being explicit and actionable, the providers, investors,donors, and support organizations that make up the microfinance community introduced the Client Protection Principles (CPPs) in 2008. The Smart Campaign was launched in 2009 to assist the microfinance industry in implementing the principles. The Campaign now has over 2,300 endorsers from 130 countries,including 700 microfinance institutions (MFIs). After nearly two years, it is possible […]

Putting the Principles to Work: Detailed Guidance on the Client Protection Principles

01 May 2014

    This draft guidance is intended to engage participants in developing a consensus on the meaning and interpretation of each of the Client Protection Principles (CPPs).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 […]

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    Financial Institution roles and responsibilities: key points for Responsible Banking.

    01 May 2014
    • Laurie Dufays

    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 […]

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    Good Practices for Financial Consumer Protection

    01 May 2014

      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 […]

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      Over-Indebtedness of Microborrowers in Ghana

      01 May 2014
      • Jessica Schicks

      Providing access to finance for those excluded from the formal financial system was and still is the mission of microfinance. What has changed, however, are the main challenges on the way to success. In the past, the financial sustainability of the service was the main hurdle to be cleared. Today, responsibility in service provision claims more of our attention. This is because something has happened that seemed virtually impossible only […]

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      Taking Stock: Financial Education Initiatives for the Poor

      01 May 2014

        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 […]

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