Many lenders are motivated solely by profit and have little regard for client welfare.
FINCA is different.
We focus on supporting income generating small businesses to alleviate poverty. We have strict internal standards and policies to ensure that clients do not become overindebted, and are treated fairly and ethically. This is part of FINCA’s heritage and mission.
We also operate revenue generating businesses that provide goods or services to achieve positive social, economic, and environmental outcomes that are consistent with FINCA’s mission objectives.
Smart Campaign: Responsible Banking
FINCA is a founding member of the Smart Campaign, a global initiative promoting the adoption of client protection standards in the microfinance industry.
In 2014, Kyrgyzstan became the first FINCA subsidiary to receive formal Client Protection Certification by the Smart Campaign. Since then, other FINCA subsidiaries have achieved certification, including Georgia, Kosovo and Pakistan.
Globally, 66% of adults, or approximately 3.5 billion people, are financially illiterate. This leaves them at risk of exploitation. FINCA is committed to offering our clients financial education, along with our products and services.
FINCA Kyrgyzstan is one of several subsidiaries working to address this among their clients and the general public. Staff are teaching clients:
- How to efficiently manage financial resources;
- How to keep track of household expenses;
- The importance of savings.
Over the past three years, FINCA Kyrgyzstan has reached more than 20,000 banked and unbanked people with in-person trainings, workshops, textbooks, and publications on financial concepts.