Ethics Charter
“PlaNet Finance” designates both the French not-for-profit association PlaNet Finance and any association and organization adhering to the Planet Finance Network Regulations.
“Microfinance Institutions” is defined as any organization developing microfinance programs and in particular, Non-Governmental Organizations, Financial Institutions, Cooperatives and government programs developing microfinance programs.
Preamble
The aim of PlaNet Finance is to work towards the improvement of humanity, ensuring the dignity of individuals by providing them with the means of realizing their life ambitions and finding the means of living and ensuring their family’s’ livelihood above the absolute poverty threshold.
To achieve this ambition, all appropriate methods, institutions and strategies must be used and their development monitored over time. Nothing can be started without the utmost respect for democracy and human rights, nor without the implementation of basic social infrastructure. Today, one of the most effective ways of achieving this ambition is microcredit and the distribution of new information and communication technologies.
PlaNet Finance plans to use new technologies to further their ambition. To achieve this, PlaNet Finance undertakes to accelerate the development of microcredit and to reinforce its effectiveness through the use of new technologies.
I –Purpose of the Code of Ethics
Article 1
All PlaNet Finance activities will aim to support the objectives defined in the preceding preamble.
II – Respect of Human Right
Article 2
PlaNet Finance will undertake to work only with microfinance institutions that respect human rights, human dignity and total financial transparency.
Article 3
PlaNet Finance will ensure that none of the microfinance institutions or organizations it supports provides funding for disguised slavery activities, child labor or businesses working in conditions contrary to international conventions and to recommendations made by the ILO.
III - Relationship with Banks and Microfinance Institutions
Article 4
In its relationship with the commercial banking sector, PlaNet Finance will ensure the promotion of microfinance among the traditional banking participants (regulated financial institutions and central banks) of the country in which they are involved, in accordance with the current charter.
Article 5
PlaNet Finance will undertake to develop the financial activity of microfinance institutions with the aim of allowing the poorest members of society to break free from the cycle of dependence.
Article 6
PlaNet Finance will undertake to promote only microfinance institutions whose interest rates do not fall within levels of usury.
IV -Payment for the services provided by PlaNet Finance
Article 7
Services provided by PlaNet Finance will only be reimbursed to ensure the stable operation of the organization, which will remain non-profit. Some services will be offered by Planet Finance at market price, depending on demand. Any profits made will be reinvested into ethical activities in accordance with the Aims of PlaNet Finance and with this present charter.
V- Transparency and Confidentiality
Article 8
PlaNet Finance undertakes to ensure the complete transparency of its accounts and activities in relation to its patrons and members as well as the general public. This transparency will be ensured by the publication of an annual report as well as by the use of the Internet to keep the general public regularly informed about the activities of PlaNet Finance.
Article 9
Planet Finance undertakes to maintain the confidentiality of information in its possession and not to distribute it outside the organization without prior agreement from the owner of that information.
VI- Partners
Article 10
PlaNet Finance will pay very close attention to the independence of its direct partners and of those who express an interest in any private, state or public interest, contrary to the fundamental principles of this charter. PlaNet Finance will also ensure that no personal profit is made within the framework of PlaNet Finance activities.
Article 11
PlaNet Finance will make all provisions to avoid any conflict of interest caused by its partners with respect to its activities.
VII -Respect of the Code of Ethics by organisations working with PlaNet Finance
Article 12
PlaNet Finance will make sure that theses rules will be implemented within its subsidiaries and affiliates.
Article 13
PlaNet Finance may stop providing its services to any microfinance institution or beneficiary organization that no longer meets the aims of this charter.
Article 14
In general, the Board of Directors of PlaNet Finance can terminate any relation or action which turns out to be non-compliant with the Code of Ethics.
VIII- Communication
Article 15
PlaNet Finance will provide its Code of Ethics to every individuals and corporate body, who is in contractual relations with PlaNet Finance. In general, the Code of Ethics will be made available for public use on its Web site.