This month, the number of microfinance organizations endorsing the SMART Campaign, an initiative housed at the Center for Financial Inclusion reached 528, with the latest endorser being Finance in Motion, a Frankfurt-based asset management firm focused on development finance.
The center, started with seed money from the US based nonprofit organization ACCION to promote pro-consumer principles such as avoidance of over-indebtedness, transparent pricing, appropriate collection practices, ethical staff behavior, mechanisms for redress of grievances, and privacy of client data. A listing of the endorsers of the initiative, which includes microfinance institutions (MFIs), investors, donors, networks and microfinance support organizations, can be found at http://www.smartcampaign.org/about-the-campaign/campaign-endorsers.
About Finance in Motion:
Finance in Motion is a Frankfurt-based asset management firm focused on development finance. It provides investment and technical assistance management services, focusing on micro-, small and medium-sized enterprise finance, housing finance, as well as on energy efficiency and renewable energy finance in developing countries. As of March 25, 2010, Finance in Motion advises investment funds with total committed capital of approximately EUR 800 million, the equivalent of approximately USD 1 billion.
About the SMART Campaign:
The SMART Campaign is housed at the Center for Financial Inclusion and was founded with seed money from ACCION International. It seeks to promote 6 core consumer protection principles including: avoidance of over-indebtedness, transparent and responsible pricing, appropriate collection principles, ethical staff behavior, mechanisms for redress of grievances and privacy of client data. As of August 23, 2010, 528 Microfinance Institutions (MFI) have endorsed the Campaign.
By Trevor Kwong, Research Assistant.
Sources and Additional Resources:
Source: Finance in Motion’s press release on August 3, 2010:
http://fim.syscp.basehosts.de/finance-in-motion.com/Press—Press-Release—2010-08-03-Finance-in-Motion-endorses-the-SMART-Campaign—s-Client-Protection-Principles——-_site.index..html_dir._siteid.86_nav.41_entryid.157_likecms.html
MicroCapital Universe: The Smart Campaign:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=SMART+Campaign#The_SMART_Campaign
MicroCapital Universe: Finance in Motion:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Finance+in+Motion
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/tiki-index.php
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