Promoting Inclusive Markets and Financial Systems
Common Code of Conduct (CoC) for Microfinance Institutions in Ghana
SummaryThe Ghana Microfinance Institutions Network (GHAMFIN) was registered in 1998 as a company limited by guarantee. It is a network of Apex Associations and their member institutions engaged in the provision of microfinance services. It is widely recognized as the umbrella association for the Ghana Microfinance industry and has been the key advocate on client protection and social performance in the microfinance arena.
This Common Code of Conduct (CoC) for Ghana Microfinance Industry has been driven by the state of consumer protection practices and concerns thereon. Studies on consumer protection practices in Ghana have revealed gaps in the implementation of consumer protection principles. The Common Code of Conduct is introduced to enable microfinance practitioners and their associations to follow fair practices and consumer protection principles in line with expectations of Bank of Ghana (BoG), Government of Ghana and other stakeholders.