Implementing an Industry Code of Conduct at Pakistan Microfinance Network (PMN)
This paper discusses the Consumer Protection Initiative (CPI) that Pakistan Microfinance Network (PMN) launched in January 2009.
CPI focuses on improving consumer protection practices through a voluntary code of conduct for consumer protection and a call center for receiving and responding to customer complaints. The public launch of the code has signaled to clients, policymakers, and MFIs that PMN members are committed to responsible finance. The PMN code of conduct is based on six core values of consumer protection. They are:
- Transparency;
- Fair practices;
- Dignified treatment;
- Privacy and fair disclosure;
- Governance;
- Client protection.
PMN is implementing the code through a four part approach that includes disseminating the code, standardizing pricing and disclosure policies, monitoring compliance with the code and implementing a system for redressal of client complaints. PMN believes that improved client protection practices will allow member MFIs to build a reputation for excellent customer service and transparency.
