- Robert Ntalaka
- News and Events
Responsible financial inclusion includes client protection principles to help financial services providers including their agents the practice of good ethics and smart business. To achieve its mission of enhancing inclusive finance in a professional financial sector, AMFIU has approached the issue of increasing outreach by implementing a number of consumer protection initiatives aimed at enhancing consumer confidence in the sector and promoting responsible finance by having both well informed consumers and financial service providers.
On the realization of how technology is driving financial inclusion and the role mobile money agents playing a key role in this eco-system, AMFIU started building the capacity of the mobile money agents in the client protection principles. The quarter saw a total of 320 mobile agents receive training in the consumer protection principles. The agents are the face of the financial providers and consumer protection training is vital since they interface with clients on a daily basis, said Flavia, Senior Trainer, Client Protection. The training also saw participation of MTN Uganda and the Financial Intelligence Authority. Mr. Opeto Moses of MTN Uganda asked the participants to take the issues of consumer protections as they have serious implications on their operations.
The Client Protection Principles are the minimum standards that clients should expect to receive when doing business with financial institutions including their agent. These principles were distilled from the path-breaking work by providers, international networks, Central Banks and National Microfinance Associations to develop pro-client codes of conduct and practices. There is consensus within the financial inclusion industry that providers of financial services should adhere to these core principles.
AMFIU is part of the global initiative, the SMART campaign for client protection which promotes the seven principles of client protection.