April 20, 2016, Tbilisi and Washington, DC – Today, FINCA Bank Georgia announced it has received Client Protection Certification by the Smart Campaign, a global initiative that certifies the adoption of high ethical standards in the treatment of clients in the microfinance industry. FINCA Bank Georgia joins an exclusive group of 44 certified financial institutions worldwide, including FINCA Kyrgyzstan.
“We have always held a strong commitment to responsible banking as well as the well-being of our clients. This independent validation lends credibility to our strict internal standards and policies and our commitment to always treat our clients fairly and ethically,” said Vusal Verdiyev, CEO of FINCA Bank Georgia.
FINCA Bank Georgia has over 18 years of experience in the country and has provided financial services to small business owners to increase income, create jobs and improve lives. The institution reaches the underserved, including 79 percent of its clients that reside in rural areas where access to financial services is limited. FINCA Georgia became a licensed, regulated banking entity in 2013, offering its clients access to savings products.
FINCA Bank Georgia received the certification in recognition of FINCA’s commitment to the best interests of clients, which includes institutionalizing the Smart Campaign’s seven Client Protection Principles. These principles include: appropriate product design and delivery, prevention of over-indebtedness, transparency, responsible pricing, fair and respectful treatment of clients, privacy of client data, and mechanisms for complaint resolution.
In extending congratulations to the bank, Isabelle Barrès, Director of the Smart Campaign, said, “We’re proud that FINCA Bank Georgia has joined 44 other leading financial institutions to position itself as a leader in client protection. Their deep commitment to the well-being of their clients will serve as a shining example for other microfinance and financial institutions around the world to pursue high standards for client protection.”
About FINCA International
FINCA International’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. For more information, please visit www.FINCA.org or follow us at http://twitter.com/finca.
About FINCA Bank Georgia
FINCA Bank Georgia is a Joint Stock Company providing innovative financial services to more than 90,000 clients through 40 branches nationwide. With a loan portfolio of more than US$70 million at end 2015, FINCA Bank Georgia is part of the global FINCA microfinance network, serving nearly 2 million clients in 23 countries, with a double bottom line of financial sustainability and social performance. For more information visit http://finca.ge/.