On January 11-13, 2022, CERISE + SPTF worked with the World Bank (WB) and the Egyptian Federation of Microfinance (EMF) to deliver a training on Client Protection to the country’s most prominent practitioners.
Forty-three representatives of Egyptian Banks, Microfinance Companies, and NGOs—representing 90% of the national microfinance market—participated actively in the three-day training designed to build their skills on the client protection standards and self-assessment. The Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA) hosted the event and participated extensively in the discussions on consumer protection.
CERISE & SPTF’s qualified trainers, Cara Foster and Anne-Laure Behaghel participated virtually, presenting the Client Protection Pathway and the corresponding Standards and Essential Practices, which responsible financial service providers are expected to implement. Independent consultant and Social Performance Management expert Rula Mheisen was present in person, to provide expert moderation and facilitate peer exchange through lively discussions on how to prevent over-indebtedness, encourage transparency, and price products in an affordable yet sustainable manner. Participants’ knowledge was built through a dynamic training methodology mixing theory, group work, and case studies.
The World Bank’s lead for this initiative, Mohamed Hisham El Shiaty, Senior Private Sector Specialist, attended the full training and reiterated the support of the WB for the Federation’s members as they progress on the Pathway to Certification. This support will translate into a dedicated coaching team that will accompany the interested Financial Service Providers (FSPs) as they conduct their self-assessments and develop action plans to implement improved practices on client protection. CERISE + SPTF is proud to coordinate the team of consultants that will guide the FSPs as they assess their policies and operations, identify their gaps, and develop action plans designed to help them reach Client Protection Certification.