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TIAA - CREF

PRI reporting framework 2018

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You are in Direct - Inclusive Finance » PIIF Principle 5: Transparency

PIIF Principle 5: Transparency

IFD 25. How mission and investment objectives are communicated to stakeholders (Private)


IFD 26. Investors and/or the public provided with information aligned with industry standards

Possible action:

Fully disclose policies, criteria and related conditions of products and services to investees and other relevant stakeholders.

26.1. Other than the PRI/PIIF, indicate if you provide your investors and/or the public with information aligned with industry standards.

26.3. Additional information. [Optional]


IFD 27. Transparency of pricing, terms and conditions among investees

Possible action:

Ensure that investees adequately disclose the pricing, terms and conditions of financial products and services offered, and that the pricing, terms and conditions are understood by clients.

27.1. Indicate if you encourage the retail institutions in which you invest to ensure that the following are transparent and fully explained to their clients (i.e. those seeking financial services from them) in a form they can understand.

Pricing

27.2. Indicate how you ensure this for pricing and provide examples.

When we make direct investments in inclusive finance we ensure the following at the level of the investee: During his/her marketing activities, the loan officer conducts a “pre-loan” meeting during which he performs the following:

  • Introduction to the institution, branch and loan officer
  • Welcome and thanks to prospective clients and host
  • Provides an overview of the institutional mission, vision and values, client profiles, product and pricing information, loan documents required, all product benefits

Other terms and conditions

27.3. Indicate how you ensure this for other terms/conditions and provide examples.

We also check to ensure that:

  • Once the loan is disbursed, the loan contract cover page clearly states the interest rate, VAT, commissions (if applicable) and delinquency fees (if applicable)
  • Each borrower is made aware of the process to lodge complaints as well as contact information for the institution

27.4. Additional information. [Optional]


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