Policies suggestions

Policy title

Regulation establishing the policy

Why do we need the policy

1. Consumer protection policy and procedures

Fair treatment of consumers’ policy

REGULATION N° 55/2022 OF 27/10/2022 RELATING TO FINANCIAL SERVICE CONSUMER PROTECTION

A Fair Treatment of Consumers' Policy is not only ethically sound but also strategically important for businesses. It builds trust, enhances reputation, ensures compliance with laws and regulations, and ultimately contributes to the long-term success and sustainability of a company

Disable people special treatment policy

REGULATION N° 55/2022 OF 27/10/2022 RELATING TO FINANCIAL SERVICE CONSUMER PROTECTION

A special treatment policy for disabled individuals is not only legally required in many cases but is also a vital step towards creating a more inclusive, compassionate, and equitable society for all. It benefits individuals, businesses, and society as a whole

Policy for compensation to the financial service consumer

REGULATION N° 55/2022 OF 27/10/2022 RELATING TO FINANCIAL SERVICE CONSUMER PROTECTION

A compensation policy for financial service consumers is essential for maintaining trust, accountability, and fairness in the industry. It protects consumers from financial harm, encourages responsible behaviour among service providers, and supports the overall stability and reputation of the financial services sector.

2. Product development and marketing policy

Promotion and advertisement policy

REGULATION N° 55/2022 OF 27/10/2022 RELATING TO FINANCIAL SERVICE CONSUMER PROTECTION

A Promotion and Advertisement Policy is essential for ensuring that promotional efforts are conducted in a legal, ethical, and effective manner. It protects the organization from legal liabilities, maintains brand integrity, and builds trust with consumers and stakeholders. Additionally, it provides a framework for measuring the success of promotional campaigns and adapting to changing market conditions

Customer segmentation policy

Deemed necessary

A well-executed Customer Segmentation Policy is instrumental in optimizing marketing strategies, improving customer satisfaction, and driving overall business success by aligning products, services, and communication with the diverse needs of different customer segments

Customer retention policy

Deemed necessary

A Customer Retention Policy is a strategic approach adopted by businesses to retain their existing customers and encourage repeat business. It is a crucial aspect of a company's overall business strategy

Product design policy

A well-crafted Product Development Policy is crucial for aligning product development efforts with business strategy, optimizing resource allocation, managing risks, fostering innovation, and ensuring the successful introduction of high-quality products to the market

Market intelligence Policy

A Marketing Intelligence Policy is essential for organizations seeking to stay competitive and relevant in their industry. It empowers decision-makers with the information needed to make strategic choices, respond to market changes, and maximize opportunities for growth and success.

Pricing policy

REGULATION N° 55/2022 OF 27/10/2022 RELATING TO FINANCIAL SERVICE CONSUMER PROTECTION

A pricing policy is crucial for several reasons, impacting various aspects of a business-like Profit Maximization, Competitive Positioning, Revenue Stability, Customer Perception and Value, Market Penetration.

3. Liquidity management and investment policy

Liquidity management and investment

policy

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT

FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS

A Liquidity Management and Investment Policy is crucial for organizations to maintain financial stability, comply with regulations, optimize cash flow, and support strategic growth initiatives. It helps protect against liquidity risks and market volatility while ensuring that surplus funds are invested prudently

Savings policy

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT

FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS

A savings policy in banks refers to a set of guidelines and practices aimed at encouraging individuals and businesses to save money. This policy serves various important purposes for both the banks and the overall economy.

Investment policy

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT

FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS

An Investment Policy is crucial for organizations to effectively manage their financial resources and make informed investment decisions. It supports long-term financial sustainability, compliance with legal and regulatory requirements, and responsible investment practices. Additionally, it fosters accountability, transparency, and stakeholder trust in the organization's financial management processes

4. Capital Mobilization and dividend policy

Capital mobilization policy

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT

FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS

A Capital Mobilization Policy is crucial for organizations, especially financial institutions, to effectively manage and mobilize capital. It supports financial stability, growth, and strategic initiatives, while also ensuring compliance with regulatory requirements. Additionally, it enhances transparency, accountability, and stakeholder confidence in the organization's financial management practices

5. Business plan and Budget policy

Business plan and budget policy

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT

FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS

A Business Plan and Budget Policy is crucial for organizations to effectively plan, manage resources, and achieve long-term success. It guides strategic decision-making, attracts stakeholders, and provides a framework for measuring performance. Additionally, it promotes transparency, accountability, and adaptability in the organization's operations

6. Project Management policy

Safeguarding policy

Needed for acquiring grants

A Safeguarding Policy is critical for organizations working with vulnerable populations to ensure their safety, protection, and well-being. It helps maintain legal compliance, build trust, and foster a culture of safety and care. Additionally, it provides a framework for reporting, accountability, and continuous improvement in safeguarding practices.

Project management manual

Needed for acquiring grants

A Project Management Manual is essential for organizations to establish standardized, effective, and efficient project management practices. It supports project delivery, risk management, communication, and compliance with organizational standards. Additionally, it fosters a culture of accountability, continuous improvement, and quality in project execution

7. Procurement and logistics policy/Review

The policy

governing institution logistics, operational and

capital expenditures

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT

FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS

A policy governing institution logistics, operational, and capital expenditures is essential for effective resource management. It supports strategic alignment, compliance with legal requirements, risk management, and transparent decision-making. Additionally, it promotes accountability, continuous improvement, and sustainable resource allocation practices within the organization

8. Cyber security policy

Cyber security policy

REGULATION No 50 /2022 OF 02/062022

ON CYBER SECURITY IN REGULATED

INSTITUTIONS

A cybersecurity policy is a crucial component of an organization's overall risk management strategy. It outlines the rules, practices, and guidelines that employees and other stakeholders must follow to ensure the confidentiality, integrity, and availability of the organization's information assets.

9. Business Continuity Management Policy

REGULATION No 43/2022 OF 02/06/2022 GOVERNING BUSINESS CONTINUITY MANAGEMENT AND OPERATIONAL RESILIENCE FOR REGULATED INSTITUTIONS

A Business Continuity Policy is critical for banks to ensure the uninterrupted delivery of essential services and operations during unexpected disruptions or emergencies

10. Information technology Policy/Review

Information and communication policy

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT

FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS

An Information and Communication Policy is essential for organizations to effectively manage and protect their information assets. It promotes compliance, privacy, security, and transparency in information handling and communication practices. Additionally, it supports strategic objectives, risk management, and stakeholder trust.

11. Internal control and audit policy/Review

Internal control policy

REGULATION No 61/2023 OF 27/03/2023

ESTABLISHING RISK MANAGEMENT FRAMEWORK FOR DEPOSIT-TAKING

MICROFINANCE INSTITUTIONS 

The Internal Control and Audit Policy plays a critical role in ensuring the effective governance, risk management, and compliance within an organization.