Kompanion discussed principles of socially responsible lending with the world community

Kompanion’s CEO participated in the first Smart Campaign summit that took place in early August in Turin, Italy. The event brought together the CEOs of 24 microfinance institutions from 16 countries worldwide that were certified by the Smart Campaign. This certification confirms that companies comply with Client Protection Principles in the field of microfinance. The summit became the platform where socially responsible lending norms are discussed and promoted. Ulanbek Termechikov, CEO of Kompanion Financial Group Microfinance CJSC, shared with the world community Kompanion’s best practices in development and promotion of responsible microfinance.

“Kompanion is focused on building long-term partnership relationships with clients based on mutual confidence, respect and integrity. We will continue to take care of our clients and facilitate the development of microfinance sector by introducing the highest service standards and adhering to the Client Protection Principles recognised internationally,” said Mr. Termechikov. Moreover, he thinks that these principles have been receiving full support from the regulator represented by the National Bank of the Kyrgyz Republic and should become an integral part of the corporate policy of all financial institutions in the country.

Kompanion joined the global network of leaders in socially responsible lending in April 2014 and became the first organization in Central Asia that was successfully certified by the Smart.

The SMART Campaign independent assessment confirms that Kompanion complies with the set of standards which ensure proper development and provision of financial products, prevention of overindebtedness, transparency, sound pricing policy, fair and respectful attitude to clients, confidentiality of client data, and grievance redress mechanisms.

###

Kompanion was founded in 2004 through consolidation of five microcredit agencies of Mercy Corps. From the date of its foundation, Kompanion has disbursed more than 1 million loans totaling approximately KGS 40.3 billion. As of today, the Company has over 115,000 active clients and 870 employees providing services in 120 offices throughout the country.

In addition to financial products, Kompanion provides the population with business development services too, being the only microfinance organization that has 32 highly skilled in-house agronomists and veterinarians.

For more information visit www.kompanion.kg