Still on these #MicrofinanceInstitutions ...
CBK said that before a charter is handed over for operation by the CBKto any microfinance, they usually assure the CBK that they will operate TRANSPARENLY.
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CBK said that before a charter is handed over for operation by the CBKto any microfinance, they usually assure the CBK that they will operate TRANSPARENLY.
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By "OPERATING TRANSPARENTLY" means:
1. Availing THE SIGNED AGREEMENT to the customer.
2. Availing PAYMENT STATEMENT to the customer on REQUEST.
3. Not selling repossessed assets at undervalue and with the knowledge of the customer.
#MicrofinanceInstitutions.
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1. Availing THE SIGNED AGREEMENT to the customer.
2. Availing PAYMENT STATEMENT to the customer on REQUEST.
3. Not selling repossessed assets at undervalue and with the knowledge of the customer.
#MicrofinanceInstitutions.
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But 98% of the people who have loans do not have a copy of the agreement they signed because some of these #MicrofinanceInstitutions refuse to give them the agreemen.
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If CBK did their job well, most of these #MicrofinanceInstitutions ,especially would be shut down.
Always insist to have a copy of the agreement.
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Always insist to have a copy of the agreement.
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Read the agreement, understand the terms, if it works for you, go ahead. If it doesn't work for you. AVOID THAT LOAN from these #MicrofinanceInstitutions.
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