COMPLIANCE

Client Protection Principle

ASA International developed/adopted self-tailored client protection principle under the model principles of SMART CAMPAIGN to protect the clients’ right within the organization.

1. Appropriate product design and delivery

The organization will take adequate care to design products and delivery channels in such a way that they do not cause clients harm. Products and delivery channels will be designed with client characteristics taken into account.

 2. Prevention of over-indebtedness

The organization will take adequate care in all phases of their credit process to determine that clients have the capacity to repay without becoming over-indebted.

 3.  Transparency

The organization will communicate clear, sufficient and timely information in a manner and language clients can understand so that clients can make informed decisions. The need for transparent information on pricing, terms and conditions of products is highlighted.

4. Responsible pricing

Pricing, terms and conditions will be set in a way that is affordable to clients while allowing for financial institutions to be sustainable. The organization will strive to provide positive real returns on deposits.

 5. Fair and respectful treatment of clients

Financial service providers and their agents will treat their clients fairly and respectfully. They will not discriminate. Providers will ensure adequate safeguards to detect and correct corruption as well as aggressive or abusive treatment by their staff and agents, particularly during the loan sales and debt collection processes.

 6. Privacy of  client data

The privacy of individual client data will be respected in accordance with the laws and regulations of individual jurisdictions. Such data will only be used for the purposes specified at the time the information is collected or as permitted by law, unless otherwise agreed with the client.

 7. Mechanisms for complaint resolution

The organization will have in place timely and responsive mechanisms for complaints and problem resolution for their clients and will use these mechanisms both to resolve individual problems and to improve their products and services.

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