The Uganda Microfinance Registration Authority (UMRA)has called upon Microfinance institutions to comply with internationally acceptable standards to expand their customer base across different parts of the country and worldwide.
The call was made as Platinum Credit Limited, received an ISO 9001:2015 certification from the International Standards Organization.
Edith Tusuubira, the executive director UMRA, said that this will help to enhance financial inclusion and thus the need to comply with standards.
She stated that Platinum Credit Limited is the first financial institution that has received ISO certification adding that this is a great milestone to the institution especially for the micro finance institutions.
"The regulations under UMRA requires that we promote standards and certifying ISO is what we require if they feel they can get it. This is a great milestone for us because most of the financial institutions that we are regulating occupy 76% of the entire Uganda sector in financial systems," she said.
Patricia Bageine Ejalu, the deputy executive director standards at the Uganda Bureau of Standards {UNBS} said that they are very much engaged in making sure that the health and safety of Ugandans is in line with the standards.
She explained that ISO 9001 in its basic context is standard that gives one guidance to make sure that one’s management system is in order looking at every stage of the process from the beginning to the end.
“The ISO 9001 standard gives Platinum Credit Limited opportunity to review itself by looking at every stage at their process and make sure it’s under control so that those who come for loans or any financial services will be able to understand that they are dealing with the company that is in order, “she said,
Albert Abaasa,the managing director Platinum Credit Limited said this certification reinforces their customer focus to deliver cash within 24 hours and relentless efforts on developing industry leading products and services measured against regional and global benchmarks of the industry excellence
Platinum Credit Limited was founded in 2009 with the vision to provide emergency financial solutions across Africa by leveraging on technology and a world of class customer experience,
