MoneyMart Finance (Private) Limited Core Client Protection Principles

The Shareholders, Directors and Management of MoneyMart Finance (Private) Limited, pledge to protect our clients from:

a.    harmful financial products,
b.    over-indebtness,
c.    harmful pricing,
d.    abuse and unethical lending and debt collection practices

We also pledge to:

e.    Treat all our clients fairly
f.    Respect the privacy of each individual client.

MoneyMart Finance Private Limited will therefore adhere to the to the following Core Client Protection principles:

  1. Avoidance of Over-Indebtedness: MoneyMart will take reasonable steps to ensure that credit will be extended only if borrowers have demonstrated an adequate ability to repay and loans will not put borrowers at significant risk of over-indebtedness. Similarly, we will take adequate care that any non-credit financial products (should we have any) extended to low-income clients are appropriate.
  2. Transparent Pricing:The pricing, terms, and conditions of our loans (including interest charges and all fees) will be transparent and will be adequately disclosed in a form understandable to clients. Our Interest Rate will not exceed 10% per month as stipulated by the Reserve Bank of Zimbabwe
  3. Appropriate Collections Practices: Our Debt collection practices will not be abusive or coercive. We will use properly registered debt collection institutions or company lawyers to collect debts.
  4. Ethical Staff Behavior: All our staff of financial will comply with high ethical standards in their interaction with our clients and we will ensure that adequate safeguards are in place to detect and correct corruption or mistreatment of clients.
  5. Mechanisms for Redress of Grievances: We shall have in place timely and responsive mechanisms for complaints and problem resolution for our clients.
  6. Privacy of Client Data:The privacy of individual client data will be respected, and such data shall not be used for other purposes without the express permission of the client.
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