> Posted by Laura Galindo
Within the microfinance industry we are very fortunate to have so many great resources at our disposal. The challenge for practitioners however, lies in how to effectively deliver the content to clients.
In 2011, the Smart Campaign’s Steering Committee launched a new Client Voice Task Force – whose members represent diverse stakeholder groups throughout the microfinance industry- to bring the voice of the client more squarely into the Campaign. One of the initiatives the task force identified as helpful to the microfinance industry was the development of a client education resource library. To make this happen, a group within the task force set out to compile a comprehensive list of existing client education materials that are in use within the industry.
Today, the Smart Campaign is launching this initiative! The new library is the start of a list that represents existing tools and resources that the task force identified as models of client protection focused client education materials. These resources were chosen to help microfinance institutions communicate to clients about their rights and responsibilities.
All of the resources address consumers’ rights and responsibilities and relate to one or more of the Client Protection Principles. For example, one of the resources - Getting it Right: How to Resolve a Problem with your Financial Institution - is a guide produced by the Monetary Authority of Singapore as part of the MoneySENSE initiative, a national financial education program. This guide helps clients understand what type of dispute resolution schemes are available within the institution and is directly related to the Smart Campaign’s seventh Principle – Mechanisms for Complaint Resolution. Another resource, My Guide to Microfinance Lending, is a manual that describes difficult experiences that microfinance borrowers in Kenya have gone through in order to communicate vital information to prevent tough times. This resource is related to Prevention of Over-indebtedness, the second Client Protection Principle.
The resources are not only from a diverse group of regions and institutions but also spread across a wide range of mediums such as brochures, post cards, capsules, videos and cartoons. This library is still in development and will continue to expand as new materials are identified. Resource submissions and suggestions are welcome via firstname.lastname@example.org.
Don’t forget to check out the new Client Education Resource Library here!
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