Advans Pakistan is committed to providing clients with quality, adapted financial services and excellent customer service.
All Advans affiliates endorse the Smart Campaign and the seven key Client Protection Principles (CPP) detailed therein:
- Appropriate product design and delivery: Advans institutions cater to clients’ needs by developing products and services which respond to their requirements. They provide simple and affordable products which are designed according to the needs expressed by clients during market surveys carried out before the launch of operations or of a new product.
- Prevention of over-indebtedness: MFIs use the Advans group’s credit methodology to analyze a client’s repayment ability during the initial business evaluation (cash-flow based lending). This prevents affiliates from lending to clients with inadequate repayment capacity. Advans affiliates aim to be proactive in building a professional microfinance industry in their respective countries through cooperating with local Credit Bureaus and other financial institutions where possible.
- Transparency: Advans MFIs provide clear and transparent information to their clients. Client information sessions, an obligatory part of the loan application process, are given in official and local languages. Moreover, loans extended by Advans institutions have no hidden costs. Expenses are clearly stated in the loan contract and duly explained to clients.
- Responsible pricing: Pricing for any given loan is calculated using two main criteria: i) current market tariffs and ii) the return needed for the institution to achieve sustainability. In general, Advans loan tariffs are in line with or slightly lower than those of similar competitors. Advans affiliates also strive to offer competitive returns on deposits.
- Privacy of client data: Advans affiliates do not pass client data on to third parties unless expressly authorized to do so by the client. Client information is kept on secure databases and interior regulations applying to staff aim to ensure that the privacy of client data is respected.
- Fair and respectful treatment of clients: Advans affiliates do their utmost to ensure that clients are treated equally and without discrimination of any kind. Branch staff are closely managed throughout the Advans network in order to monitor the quality of customer service provided. Policies have been clearly defined across the group in order to identify any cases of misconduct towards clients and to avoid the use of any coercive loan recovery methods.
- Complaint resolution: All Advans affiliates have implemented or are in the process of implementing complaint resolution systems including suggestion boxes, dedicated telephone numbers or e-mail addresses. Complaints are dealt with as quickly as possible by the relevant department.
Advans Pakistan is committed to
- Complying with local regulations and respecting fundamental human and social principles as defined by international conventions
- Identifying potential social and environmental issues in the area of operations and continually updating and refining practices to be in line with industry developments and best practices
- Raising environmental awareness among employees and clients, in order to encourage environmentally friendly practices and to reduce any potential negative impact of their activities
- Employing the Advans Exclusion list, which forbids the financing of activities considered as having a negative social or environmental impact