OMRO IFN S.A. has been awarded on the European Code of Good Conduct for Microcredit Provision by the European Commission
OMRO IFN S.A. has been awarded by the European Commission for complying with the European Code of Good Conduct for Microcredit Provision thus joining the 24 certified institutions from EU countries and the 7 Romanian organizations that were certified at the end of March.
OMRO proved the compliance with the clauses of the European Code of Good Conduct for microfinance sector, obtaining the required score for compliance, meeting 94% of the applicable Code clauses. In order to comply with the Code, institutions must comply with 80% of the applicable clauses.
The decision for granting the award was taken by the Steering Group of the European Code of Good Conduct, based on the recommandation of the independent evaluator of the Code, Microfinanza Rating.
”The award on the European Code of Good Conduct for Microcredit Provision is very important for our company. This award proves the attention of OMRO’s entire staff in meeting quality standards in relation with customers and investors, in governance, risk management, reporting standards and management information systems. These standards, common at EU level for the microfinance sector, are for the benefit of customers, investors, funders, owners, regulators and partner organisations providing transparency and security in terms of procedures, processes, products of the certified institution, promoting the best practices in this sector.”