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IDF Eurasia group in Kazakhstan has an authorized representative for protection of borrowers’ rights
14 October 2020

IDF Eurasia group in Kazakhstan (Solva and Moneyman) has introduced a new position – Commissioner for protection of borrowers. Ombudsman serves as a mediator in disputes between borrowers and the company. He monitors compliance with the interests of clients who have already applied to Solva and Moneyman MFIs, but were dissatisfied with the service.

Commissioner explains the rights of users and the possibilities of their legal protection. For example, if necessary, he will tell you how to apply to the National Bank. Ombudsman is also responsible for auditing the company’s internal processes and regulations. He has all the powers and technical capabilities to resolve a dispute between the client and the company within 1-2 days, urgent requests — within 1 day. His decisions are binding on all employees of the company.

Borrowers can contact the authorized representative by filling a special form – “Protecting the borrower’s rights” on the company’s website in “Complain ” section. The position of Commissioner for protection of borrowers was presented on 01.10.2020.

IDF Eurasia group in Kazakhstan provided the regulator with a roadmap for introduction of a new position that can be used as a successful case and scaled up in the Kazakhstan financial market.

Dalidah Davlyatshina, Operating director of Group says: “The rights of clients should be a priority for any company, especially in the financial sector. When the borrower is dissatisfied with the service, they send a request to a self-regulating organization or a National Bank. After receiving customer requests from the regulator, we understand that we could solve them faster if they came to us directly. Almost all requests are due to a misunderstanding between the company and the borrower. The new position will increase the quality of customer service, speed of feedback and increase the loyalty of borrowers to the company. We hope that our experience will be in demand by other participants of the microfinance market.”

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