1.1 Each financial institution will be given a rating each year; after the Charter Council has approved the audited scorecard of the institution.
Tendering to Govt. Financial inst itutions procuring from Pvt.
Score % Rating Weighting to be given by Govt.
2.1 Unless otherwise specifically provided, points will be scored from the level of the threshold for each target and in linear progression from that level to the level of the target.
The 2014 thresholds will be set as part of the process of the 2009 review outlined in 4.3 of the charter.
The 2004 equivalent of the rating bands in 2008 (reflected in paragraph 1.2 above) will be established before the effective date. The rating bands for each of the intervening years will be a linear progression from the 2004 ratings to the 2008 ratings.
For the purposes of paragraph 10.2 of the charter, if within 3 months of a reporting date an institution ceases to comply with the provisions of paragraph 11.1 for reasons beyond its control, but re-establishes compliance by the time the report is due, it will be deemed to have complied at the reporting date.
Section 1 - (Paragraph 5 of the charter) Human Resource Development 20 1.
Junior management black people as a % of junior management Min 40% -50% 4 - (2.5 @ 40%, 0.75 @ 4 5% 0.
black women as a % of junior management Min 15% 33%of black target 1 1.
Skills spend % of payroll spent p.a. on skills development of black employees 1.
Learnership program learnerships as % of total staff 4.
Enterprise Development: paragraphs 7.1.1 & 7.1.
Section 3 - (Paragraph 8 of the charter) Access to Financial Services 18 3.1 Transactions savings products and services Effective access for LSM 1-5 (%) 80% 70% 4 3.2 Bank savings products and services Effective access for LSM 1-5 (%) 80% 70% 4 3.3 Life assurance products and services Effective access for LSM 1-5 (%) tbf 12 3.
3.5 Short term risk insurance products Effective access for LSM 1-5 (%) 6% 0 4 3.
Origination of black SME loans (R) tbf 10% of target 2 3.7 Consumer education % of post tax operating profits spend p.a. Min 0.
Section 5 - (Paragraphs 10 & 11 of Charter) Ownership & Control 22 5.
Direct ownership Max of 4 Bonus points scored: 0.5 when direct ownership at 13.75%, 0.5 at 17.5%, 1.5 at 21.25% and 1.5 at 25% Listed companies: standard valuation as % of market capitalisation Non-listed companies: standard valuation Min 10% by 2010 - 2.
Direct or indirect ownership in excess of 10% Ditto 15% by 2010 - 0.5 points at: 13.75%, 17.5%, 21.
Corporate Social Investment % of post tax operating profit directed p.a. to CSI 0.