Putting Transparency Into Practice: Communicating about Pricing
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The “Putting Transparency Into Practice: Communicating About Pricing” tool, developed by MFTransparency with the Smart Campaign, helps define transparent and responsible pricing and provides several additional resources for MFIs looking to comply with the pricing standards outlined by the Client Protection Principles.
MFTransparency and the Smart Campaign are complementary efforts to increase transparency in the microfinance industry and institutionalize strong client protection practices in the sector. While the Smart Campaign advances the Client Protection Principles, MFTransparency specializes in deep technical knowledge of one of those principles, “transparency,” and acts as the implementer of a second, “responsible pricing.”
This brief document describes how financial service providers can observe the principle of transparency, current resources that exist to help providers understand and communicate their prices to clients, and information on where providers can find more information from MFTransparency and the Smart Campaign.
A core component of MFTransparency’s methodology is providing educational resources to a range of microfinance industry actors. We continuously publish resources to help service providers strengthen their understanding of pricing calculations and standards. As the implementer of the Client Protection Principle for Transparent and Responsible Pricing, MFTransparency’s role is to support microfinance service providers with technical assistance in their process of translating their commitment to client protection into practice.