Client protection principles

 «Bai – Tushum» Bank Closed joint-stock company invests significant effort into building long-term partner relationships with clients, based on mutual trust, understanding and respect. This May Bai-Tushum Bank was assessed by the independent international rating company MicroFinanza Rating and officially reaffirmed its full compliance with SMART Campaign Client Protection Principles. Thus, Bai-Tushum fully adheres to and implements in its activities the 7 client protection principles, 30 standards and 95 indicators established by SMART Campaign. The principles are designed to protect the rights and interests of the clients with low incomes from disadvantageous financial services and to ensure excellence in servicing them.

1. Prevention of over-indebtedness. The Bank takes all the reasonable steps to disburse loans only to those borrowers, who have demonstrated sufficient ability to repay, while ensuring that the loans disbursed to them do not create a serious risk for the borrowers to have over-indebtedness resulting in getting them into debt pit.

2. Transparency and Responsible pricing. Costs and all conditions of providing financial services (including interest rates, insurance payments, all commission fees, etc.) are transparent, and are clearly communicated to the clients.

3. Adequate indebtedness collection practices. Debt collection actions are effectuated in accordance with the laws of the Kyrgyz Republic. Debt collection methods, used in the Bank, are free from insulting or involuntary taking of the indebtedness.

4. Adhering to Business Ethics. In handling clients, the Bank’s employees adhere to the high standards of business ethics. Necessary safeguards are implemented in the Bank to reveal and eliminate corruption or improper treatment of clients.

5. Grievances redress and satisfaction procedures. The Bank provides for the system of prompt examination of the grievances and suggestions provided by clients, under which the client may express his/her opinion on the Bank’s operation, quality of servicing and of services provided, as well as make suggestions to improve the Bank’s activities. The Bank, in its turn, immediately responses to such information and takes necessary steps to resolve the issue.

6. Privacy of client data. All interactions between the Bank and Client are strictly confidential, the Bank undertakes not to transfer and disclose to any third parties the information, relating to the loan agreement concluded, save for the cases, stipulated by the laws of the Kyrgyz Republic and the loan agreement.

7. Appropriate product design and delivery. Products and services of the Bank, as well as the delivery channels are designed with client’s needs and wishes taken into account. In compliance with the Bank’s internal policies and procedures, our products and delivery channels do not harm the clients.