The Smart Campaign, an initiative housed at the Center for Financial Inclusion to promote the use of a set of client protection principles, has partnered with the African Microfinance Network (AFMIN), an association of African microfinance networks, and Plan International, a UK-based children’s development organization, to promote and institutionalize client protection among microfinance institutions (MFIs) throughout Africa and Asia.
AFMIN will encourage all of its members to endorse The Smart Campaign and its Client Protection Principles, which include avoiding overindebtedness, appropriate collection practices and ethical staff behavior.
Plan International will promote and work to institutionalize client protection among microfinance institutions (MFIs) in nine of the countries Plan works within Asia: Bangladesh, Cambodia, China, India, Indonesia, Nepal, Pakistan, Philippines and Sri Lanka.
By Witt Gatchell, Research Associate
About Africa Microfinance Network (AFMIN):
The Africa Microfinance Network (AFMIN) was established in 2000 as an association of microfinance networks that aims to contribute to the provision of effective and sustainable financial services to the low-income population of Africa. Its 22 member networks collectively represent 1,118 microfinance institution (MFI) members who reached 13 million borrowers and 9.7 million savers as of December 2007. These MFIs also report cumulative loans outstanding of USD 2 billion and net savings of USD 1.2 billion as of that date. AFMIN’s core programs include capacity building for members, advocacy and policy change, performance monitoring and benchmarking, research, information dissemination, knowledge building and network management.
About Plan International:
Plan International (Plan) is a UK-based children’s development organization founded in 1937. As of 2010 it works in 48 developing countries across Africa, Asia and the Americas with the goal of promoting child rights and lifting children out of poverty. Plan has no religious, political or governmental affiliations. As of June 30, 2009, Plan had total assets of EUR 217 million (USD 290 million). Plan’s expenditure on programs was EUR 348 million (USD 466 million) for fiscal year 2009.
Sources and Additional Information:
[1] The Smart Campaign Press Release: “AFMIN and Plan International Partner with The Smart Campaign”, http://www.smartcampaign.org/news-a-highlights/whats-happening/8-2010/26…
MICROCAPITAL.ORG STORY: Developments in International Consumer Protection and Their Relevance to Microfinance Industry
https://www.microcapital.org/microcapitalorg-story-developments-in-intern…
MicroCapital’s Microfinance Universe profile: Plan International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pla…
MicroCapital’s Microfinance Universe profile: African Microfinance Network
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Afr…
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