European Commission Recertifies IFN ROMCOM SA for Compliance with the European Code of Good Conduct for Microcredit Provision
The European Commission’s DG for Employment, Social Affairs, and Inclusion has recertified IFN ROMCOM SA for compliance with the European Code of Good Conduct for Microcredit Provision. This decision was based on the recommendation of Microfinanza Rating, the independent evaluator for the Code.
Certification under the European Code of Good Conduct for Microcredit Provision is a rigorous process that confirms a financial institution’s adherence to the principles and values set by this code. This European initiative aims to promote microcredit as a tool to support entrepreneurship and combat financial exclusion.
By achieving recertification, IFN ROMCOM SA demonstrates its responsible and ethical approach to microcredit provision, taking into account the needs and financial capacity of its clients. This includes offering clear, transparent information about its credit products, conducting responsible creditworthiness assessments, and committing to enhancing the conditions for its clients’ businesses. IFN ROMCOM SA first obtained certification under the Code in 2020.
To achieve (re)certification, financial institutions must adhere to procedures and standards set by accredited certifying organizations. This process, involving a thorough review of the institution’s credit policies and practices, can take several months to a year, depending on the organization’s complexity and certification preparedness. IFN ROMCOM SA’s evaluation was conducted by Microfinanza Rating (Italy), with funding support from the European Investment Bank under the InvestEU Advisory Hub.
As part of the Romanian-Swiss ROMCOM group, IFN ROMCOM SA has over 30 years of experience providing development solutions for small and medium-sized enterprises through financing, consulting, and business training services. This recertification under the European Code of Good Conduct offers IFN ROMCOM SA’s clients greater confidence that the institution responsibly grants credit with the goal of improving their financial situation.
About the Author: Vlad Mihuț
Vlad is the CEO of ROMCOM, responsible for implementing ROMCOM’s strategy and managing relationships with business partners and regulatory institutions. Vlad joined the ROMCOM team in 2003.
