Responsible banking and a focus on the long-term well-being of clients are core values embedded in FINCA’s mission. We have adopted strict internal standards and policies to help ensure that clients do not become over-indebted and that they are always treated fairly and ethically.
One of the keys to this is education. FINCA offers financial literacy classes in many countries to teach people how to budget, save and invest wisely in their micro businesses.
FINCA was one of the founders of the Smart Campaign, a global initiative promoting the adoption of high ethical standards in the treatment of clients in the microfinance industry. In 2014, Kyrgyzstan became the first FINCA subsidiary to receive formal Client Protection Certification by the Smart Campaign and in 2015, Azerbaijan became the second.
We also actively participate in, and support, MicroFinance Transparency, an industry-wide effort to ensure full transparency in pricing, and the Social Performance Task Force’s Universal Standards, which measure social performance and adherence to mission.
“FINCA has always had a strong commitment to client protection best practices—it’s just what we do and the clients know that. It helps them but it’s also what makes FINCA thrive.”–Margarita Cherikbaeva, FINCA Kyrgyzstan