From its inception, social responsibility has been one of the main reason for the BID NBFI's establishment. Our main purpose is to support the community who have limited access to financial service. Also, the BID NBFI has always been maintaining its exemplary role in the microfinance sector ever since the Board Chairman elected as President of Mongolian NBFI Association in 2009. Hence, the BID NBFI has always been upgrading its operation to the international level.
We have endorsed the Smart Campaign and Universal Standard for Social Performance Management which contains social responsibility for clients and employees. We had Social rating done in 2014 by Microfinanza Rating and got B+.
In 2018, we had an action plan to further our social goals. We planned to reach outskirt of Ulaanbaatar and started to open new branches to the countryside. As a result, we opened 1 branch in Khan-Uul district and 1 branch in Khuvsgul Province in 2018. We also planned to more branches in 2019 - 2021.
Financial literacy is an important social aspect of the microfinance sector. We formalized our training programs and launched 5 level financial and business course for our clients. Topics of the programs are:
1. Financial discipline
2. Business plan
3. Financial analysis
These programs are scheduled to be organized every 2 months. We believe the main contribution of these training will help them to successfully conduct and further their businesses.
Another social event we participate every year is "1000 school-bag challenge". We initiated this challenge 5 years ago in 2014 and organized the event. From 2015 onward, Mongolian NBFI Association started to organize this challenge among the member NBFIs. This challenge reached 3000 students from poor and low-income families to support their school utilities and to inspire their will for further their education.
Since 2017, we started to organize a lecture for high school students on choosing the "right major" in the scope of their future career, life goal, and happiness, etc. In 2019, we organized our lecture at 5 high schools and reached over 300 students.