BRAC has been recognised with Smart Certification for its demonstrated commitment to client protection through its microfinance activities. By successfully completing the Smart
Campaign’s certification programme BRAC has become the first organisation in Bangladesh to achieve certification. It joins 63 other financial institutions worldwide who are proven industry leaders in keeping clients first.
Client Protection Certification is an independent, third party evaluation to publicly recognise financial institutions that meet adequate standards of care in how they treat clients. Financial institutions awarded with Smart Certification must meet rigorous, internationally agreed standards on client protection.
To secure certification, BRAC underwent an extensive audit of their policies and practices for adherence with the Smart Campaign’s Client Protection Principles, which cover issues including transparency, fair and respectful treatment, responsible pricing and prevention of over-indebtedness. The Smart Certification process consists of a thorough document review followed by an onsite visit complete with interviews of BRAC’s management, staff and clients. The process was conducted by Microfinanza Rating, a globally specialised microfinance rating agency and licensed Smart Certifier. Including BRAC in Bangladesh, 64 institutions globally have been certified since the programme’s launch, which serve more than 34 million clients.
Commenting on the achievement, Shameran Abed, director of BRAC’s microfinance programme said, ‘We are absolutely thrilled to be Smart Certified. Our clients have always come first, and this achievement confirms the success of our programme’s mission to provide financial services to the poor in a way that is responsible and responsive to their needs.’
