Duration: August 2018 – March 2020
Funded by: The Embassy of the Kingdom of Netherlands in Jordan
Rights of clients of Micro Finance Institutions (MFIs) have been subject to massive public debate in Jordan. PfG recognizes that micro-financing facilitates provide access to finance to the un-bankable segments of society, which should help them attain better economic and living conditions. Although access to finance is being recognized as a fundamental human right worldwide and a major pinnacle for economic development and prosperity of individuals, groups and communities, it carries with it risks and contextual challenges.
Consequently, PfG built its approach for this project in a participatory manner with the donor and other key stakeholders to optimize protection, raise awareness on responsible access to finance and ultimately work with its partners towards the enhancement of systems, policies and practices relevant to protection of socio-economic rights of MFIs.
The project addresses the protection of socio-economic rights of MFI clients through: (1) Building the institutional capacity of MFIs in consumer protection; (2) Developing the capacity of MFI clients and the general public in financial literacy; and (3) Supporting the regulatory body, the Central Bank of Jordan, to promote a healthy and fair micro-financing environment.
Key deliverables include:
1. Two MFIs developed a ‘Code of Conduct’ that captures consumer protection and do-no-harm principles, which enhances the client protection policies for vulnerable groups.
2. An Awareness Campaign was launched in 2019, throughout Jordan with visible billboards, ads, radio, TV and social media utilized.
3. In three communities (in the Northern, Middle, and Southern regions of Jordan), PfG conducted direct awareness raising sessions to enhance financial literacy of at least 400 beneficiaries.
In April 2019, an expansion for this project was signed with the Netherlands Embassy, to include all 9 MFIs registered under Tanmeyah with the Capacity Building workshops and trainings, to support them in embedding human-rights-based approaches and do-no-harm within client protection policies and practices.
Key partners for this project are the Central Bank of Jordan, Tanmeyah, and the two pilot MFIs prior to the expansion: VITAS and Micro-fund for Women.