The Client Protection Principle (CPP) is used to minimize and avoid the over-indebtedness of the clients and improve the image oft he institution. In order to make the clients avoid from over-indebtedness and help Seilanithih has good image and good performance, it has 7 principles of CPP as follow:
1. Appropriate Product Design
Seilanithih tries to design products that are appropriate to client needs and do no harm and seeks client’s feedback for product design and delivery.
2. Prevent of Over-indebtedness
Seilanithih has conducted appropriate clients repayment capacity analysis before disbursing a loan and uses Credit Bureau and competitor data, as feasible in local context.
Seilanithih fully discloses cost and non-cost information and communicate proactively with client’s in a way that clients can easily understand and leave adequate time for clients review and discloses at multiple time provide.
4. Responsible Pricing
Seilanithih tries to offer market-based, non-discriminatory pricing and do not charge excessive fees.
5. Fair and Respectful treatment of clients
Seilanithih considers what it is appropriate debt collection practices. Debt collection practices are covered during the initial training of all staff involved in debt collections (loan officers, Debt collections’ staff, and branch managers). In particular, debt collections’ staff receives training in acceptable debt collections practices and loan recovery procedures.
6. Privacy of Client Data
Seilanithih informs clients about when and how their data is shared and gets their consent.
7. Mechanism for Complaints Resolution
Seilanithih’s clients are aware of how to submit complaint and Seilanithih’s staff is trained to handle complaints, and uses client’s feedback to improve practices and products.