Privacy Policy

1. Introduction

Royale Mikri Microfinance Ltd ("we," "our," or "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you visit our website or use our services.

We are licensed by the Bank of Ghana and comply with all applicable data protection laws and regulations in Ghana. By using our services, you consent to the practices described in this policy.

2. Information We Collect

2.1 Personal Information

When you open an account or apply for a loan, we collect:

• Full name and date of birth
• Ghana Card number or other government ID
• Contact information (phone number, email address, physical address)
• Photographs for identification
• Biometric data (fingerprints) for verification
• Employment and income information
• Bank account and mobile money details

2.2 Financial Information

• Transaction history and account balances
• Loan applications and repayment history
• Savings patterns and Susu collection records
• Credit history from credit bureaus (with your consent)

2.3 Technical Information

When you visit our website or use mobile banking, we may collect:

• IP address and device information
• Browser type and version
• Pages visited and time spent
• Mobile network information
• Transaction logs and USSD session data

3. How We Use Your Information

We use your information for the following purposes:

• Account Management: To open and operate your accounts, process transactions, and provide customer service.
• Loan Processing: To evaluate loan applications, assess creditworthiness, and manage repayments.
• Verification: To verify your identity and prevent fraud.
• Communication: To send you important notices, updates, and marketing information (with your consent).
• Improvement: To analyze usage patterns and improve our services.
• Legal Compliance: To comply with legal and regulatory requirements.

4. Information Sharing

We may share your information with:

4.1 Service Providers

• Credit reference bureaus (with your consent)
• Payment processors and mobile money operators
• IT service providers and cloud storage
• Auditors and legal advisors

4.2 Regulatory Authorities

We may disclose information to:

• Bank of Ghana
• Ghana Revenue Authority
• Law enforcement agencies (when required by law)
• Other regulatory bodies as required

4.3 Business Transfers

In the event of a merger, acquisition, or sale of assets, your information may be transferred to the new entity.

5. Data Security

We implement robust security measures to protect your information:

• Encryption of sensitive data in transit and at rest
• Firewalls and intrusion detection systems
• Access controls and authentication requirements
• Regular security audits and penetration testing
• Staff training on data protection
• Secure data centers with 24/7 monitoring

While we take every precaution, no method of transmission over the Internet is 100% secure. We encourage you to protect your passwords and never share your PIN with anyone.

6. Data Retention

We retain your information for as long as you maintain an account with us and for a period after account closure as required by law:

• Transaction records: 6 years (Bank of Ghana requirement)
• Loan documents: 6 years after final payment
• Account applications: 5 years after closure
• Identification documents: 5 years after last transaction

After the retention period, your information is securely deleted or anonymized.

7. Your Rights

You have the following rights regarding your personal information:

• Access: Request a copy of your personal information
• Correction: Update inaccurate or incomplete information
• Deletion: Request deletion of your information (subject to legal requirements)
• Restriction: Limit how we use your information
• Portability: Receive your information in a structured format
• Objection: Object to certain processing activities
• Withdraw Consent: Withdraw consent at any time

To exercise these rights, contact our Data Protection Officer at dpo@royalemikrifinance.com or visit any branch.

8. Cookies and Tracking Technologies

Our website uses cookies to enhance your browsing experience:

• Essential Cookies: Required for website functionality
• Analytics Cookies: Help us understand how visitors use our site
• Preference Cookies: Remember your settings and choices

You can control cookies through your browser settings. However, disabling cookies may affect website functionality.

9. Children's Privacy

We offer Children's Savings accounts, which are managed by parents or guardians. For these accounts:

• The parent/guardian provides all information on behalf of the child
• Parents have full control over the account and information
• We do not knowingly collect information directly from children under 18
• Parents may request access to or deletion of their child's information

10. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. When we do, we will:

• Update the "Last Updated" date at the top of this policy
• Post the new policy on our website
• Notify you of material changes via SMS or email
• Provide a summary of changes upon request

We encourage you to review this policy periodically.

11. Contact Us

If you have questions about this Privacy Policy or our data practices, please contact:

Data Protection Officer
Royale Mikri Microfinance Ltd
Old Bekwai Road, Kumasi
Email: dpo@royalemikrifinance.com
Phone: 0302 420 457
Hours: Monday-Friday, 8am-5pm