XacBank AWARDED Social Performance Reporting Award BY CGAP
/17.12.10 Ulaanbaatar/ XacBank consolidated its position as an undisputed leader in socially and environmentally responsible banking by receiving the Social Performance Reporting Award in Silver category for the second year in a row.
The international award given by Consultative Group to Assist the Poor (CGAP www.cgap.org ) recognized XacBank’s sustained effort of transparency and accountability in reporting on the Bank’s micro financial services’ impact on the lives of micro clients, out of more than 300 entries from Micro Finance Institutions (MFIs) across the world.
XacBank has been working with a clear strategy plan to achieve its social performance goals, part of which includes an ongoing effort to make the Bank’s financial services accessible to rural areas as well as densely populated districts of Ulaanbaatar city. The Bank also provides youth social and financial education and constantly commits itself to measuring the poverty level of its customers through Progress out of Poverty Index to offer products and services that suit their financial needs.
Moreover the Bank has introduced AMAR, a mobile banking service allowing customers to manage their finance remotely, while it has also established a number of eco product sale points in ger districts providing financial support for customers who are interested in affordable energy saving and heating products to get through the tough winter chills.
