Bai Tushum Bank receives S.T.A.R. Recognition – the acknowledgement of social transparency and responsibility

Bai Tushum Bank is the first and for now, the only one bank in Kyrgyzstan, to receive S.T.A.R. Recognition for social transparency and responsibility.

The award was established by MixMarket global international platform to encourage microfinance and banking institutions to provide full social performance information.

“In its activities, Bai Tuhsum Bank always prioritizes client’s interests, building trust and partnership, and the award given to us in another evidence to Bank’s social commitment”, — points out Gulnara Shamshieva, the General Manager of Bai Tushum Bank.

As a socially-oriented bank, Bai Tushum is regularly awarded and recognized by various international rating agencies. In 2014 Bai Tushum Bank was officially recognized by SMART Campaign, as an institution that completely adheres to, and implements in its activities the 7 client protection principles, 30 standards and 95 indicators.

In addition, the Bank is the holder of all six KIVA Fund badges that verify its significant achievements and high competence in socially responsible financing: Facilitation of Savings, Anti-Poverty Focus, Family and Community Empowerment, Entrepreneurial Support, Innovation and Client Voice.

 Reference:

MIX Market (www.mixmarket.org) is a data hub where microfinance institutions (MFIs) and supporting organizations share institutional data to broaden transparency and market insight. This exchange enables users to establish reporting standards, alleviate reporting burden, and promote responsible investment. Supported by validated social and financial performance data, MIX Market provides analysis on risks and opportunities in the markets where MFIs operate.

This platform is provided by MIX. MIX promotes responsible financial services for underserved communities through data analytics and market insight. Incorporated in 2002, MIX is a non-profit organization headquartered in Washington, DC with regional offices in Africa, Asia, Europe, and Latin America. To learn more please visit at www.themix.org.

KIVA Microfunds is an Internet platform, combining people with the purpose of lending to socially vulnerable population around the world and contributing to global efforts on poverty alleviation. Kiva Microfunds cooperates with 154 microfinance institutions in 62 countries around the world.

The Smart Campaign is an international company that promotes implementation of client protection practice in the basic culture and everyday activities of microfinance institutions. The Smart Campaign Steering Committee is comprised of respected leaders in the microfinance industry from diverse regions and microfinance institutions.