Smart Campaign: Consumer Protection

SAIJA ensures that best practices in consumer protection are followed throughout its product offering, as proposed in the framework of the SMART campaign for consumer protection, which is led by ACCION International’s Center for Financial Inclusion. The adoption of responsible lending principles of the SMART campaign also ensures full compliance with the Codes of Conduct of MFIN and Sa-Dhan.the-smart-campagin

In April 2010 SAIJA underwent a detailed assessment conducted by SMART Campaign to assess the alignment of its current business operations with global best practices in consumer protection. The SMART Campaign certified consultants confirmed that SAIJA in most areas had adequate consumer protection processes in place. However, based on the findings of this report SAIJA has already made improvements in areas such as its grievance redressal mechanism and also spelt out a work plan to ensure that it duly meets the stipulated standards in all areas of consumer protection.

The Smart Campaign is a global effort to help the microfinance industry remain both socially focused and financially sound by delivering transparent, respectful, and prudent financial services to clients. By implementing the Campaign’s Client Protection Principles into daily operations, organisations can build strong, lasting relationships with clients, increase client retention and reduce financial risk to foster a stronger portfolio and ensure healthy returns.

The Client Protection Principles encompassed in the SMART campaign are as follows :

  • Appropriate product design and delivery
  • Prevention of over-indebtedness
  • Transparency
  • Responsible pricing
  • Fair and respectful treatment of clients
  • Privacy of client data
  • Mechanisms for complaint resolution

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