Attention Points Business Continuity for MFIs in View of the COVID-19 Outbreak
This guidance note describes some attention points for the analysis and measures to be taken to arrange proper crisis management and to ensure business continuity in the face of the COVID-19 pandemic. This guidance note is organized in two main parts including guidance for analysis and a checklist of measures for crisis management and business continuity planning (BCP). The note is meant to be a practical tool for microfinance institutions (MFIs). It can be used entirely or partially depending on the specific needs and stages of the situation.
The objective of the present note is to provide reference guidelines to MFIs / Financial Service Providers (FSPs) when preparing their own BCP to face the pandemic crisis in order to:
- Maintain responsible treatment of clients and support to come up with measures to cope with the COVID-19 situation.
- Minimize the risk of infections and insure responsible treatment of employees and agents during the crisis.
- Minimize the risks for the institution in order to ensure business continuity during and after the crisis.
- Proactively communicate with all stakeholders.