Universal Credit adheres to the client protection principles of the international SMART Campaign standard.
SMART Campaign Principles:
Prevention of Over-Indebtedness
The MCC takes all reasonably justified measures to ensure that loans are provided only to borrowers who have demonstrated a sufficient capacity to repay them, so that the loans granted do not create a significant risk of over-indebtedness and, consequently, do not lead borrowers into a debt trap.
Transparency of Pricing
The cost and all terms of financial services (including interest rates, insurance premiums, commissions, and other fees) are transparent. Information about these terms is provided to clients in a clear and understandable manner.
Appropriate Debt Collection Practices
Debt collection activities are carried out in compliance with the legislation of the Kyrgyz Republic. The collection methods applied by the MCC do not involve abusive behavior or coercive practices.
Ethical Business Conduct
In their interactions with clients, MCC employees adhere to high standards of business ethics. The MCC has established the necessary safeguards to identify and prevent corruption or improper treatment of clients.
Complaint Resolution Mechanisms
The MCC has an effective system for the prompt review of client complaints and suggestions, enabling clients to express their opinions regarding the MCC’s operations, service quality, and products, as well as to submit proposals for improvement. The MCC responds to such feedback without delay and takes the necessary measures to resolve the issues raised.
Confidentiality of Client Information
All relations between the MCC and the Client are strictly confidential. The MCC undertakes not to disclose or transfer to third parties any information related to the concluded loan agreement, except in cases stipulated by the legislation of the Kyrgyz Republic and the loan agreement.
Appropriate Product Design and Delivery Channels
The MCC’s products and services, as well as its delivery channels, are designed with due consideration of clients’ needs and preferences. In accordance with the MCC’s internal policies and procedures, products and delivery channels do not cause harm to clients.
The following practices are strictly prohibited:
- The use and/or threat of physical force;
- Seizure, sale, destruction, and/or damage to a client’s property without the client’s consent;
- Psychological pressure that humiliates or violates an individual’s dignity;
- Disclosure of information about a debtor to unauthorized (third) parties, unless otherwise stipulated in the agreement;
- Contacting or disturbing the borrower, pledgor, or guarantor after 9:00 p.m.