Governance of SPM
The Social Performance Management Committee (SPMC) at BoD level was formed early 2013 and chaired by an independent BoD and contains of some BoD members, and related management to be in charge of designing and monitoring implementation of KREDIT’s SPM work. The committee set up a clear charter, so- called “Social Performance and Community Development Fund” to give clear nature of the social fund, to set out some criteria for eligible projects or activities to be supported, and also to provide general process to use the fund. 5%- 10% of yearly net profit from the company is also flew in to this account after the audit report issued and BoD approved. Clear charter was set, including members, roles and also the frequency of the meeting. Additionally, at the operational level, with clear responsibilities set, a social performance and community development unit was also formed and led by a unit managers with a few staff.