Document Code: NeftalyP285
Approved By: Neftaly Malatjie, Chief Executive Officer
Date Approved: 28 October 2025
Review Date: 29 November 2026
Policy Owner: Neftaly Chief Human Capital Officer, NeftalyCHCR
NeftalyP285-1 Overview
NeftalyP285-1-1 The Neftaly Human Capital Loan Management Policy (NeftalyP285) establishes a framework for the administration, approval, monitoring, and recovery of loans granted to Neftaly Human Capital, Officers, Deputy Chiefs, and Royal Directors. This policy ensures that all loan activities are transparent, fair, and aligned with Neftaly’s financial management standards, promoting accountability and responsible borrowing practices.
NeftalyP285-2 Objectives
- NeftalyP285-2-1 To provide clear procedures for processing, approving, and managing loans.
- NeftalyP285-2-2 To ensure loans are disbursed in line with financial sustainability principles.
- NeftalyP285-2-3 To establish accountability for repayment and proper documentation.
- NeftalyP285-2-4 To prevent misuse of Neftaly financial resources.
- NeftalyP285-2-5 To promote financial wellbeing among Human Capital through structured support.
NeftalyP285-3 Scope
NeftalyP285-3-1 This policy applies to:
- NeftalyP285-3-1-1 All Neftaly Human Capital (staff, Officers, Deputy Chiefs, Royal Directors, and Non-Executive Members).
- NeftalyP285-3-1-2 All types of internal loans, including personal, emergency, and project-related advances.
- NeftalyP285-3-1-3 The entire loan lifecycle: request, approval, disbursement, monitoring, and repayment.
NeftalyP285-4 Policy Statement
NeftalyP285-4-1 Neftaly is committed to providing fair and transparent access to loans for eligible Human Capital while maintaining strict financial integrity and accountability. Loan decisions will be guided by merit, necessity, repayment ability, and compliance with Neftaly’s financial governance standards.
NeftalyP285-5 Principles
- NeftalyP285-5-1 Accountability: All loans must be approved through proper channels and documented.
- NeftalyP285-5-2 Fairness: Equal opportunity for all eligible Human Capital to access loans.
- NeftalyP285-5-3 Sustainability: Loans must not compromise Neftaly’s financial position.
- NeftalyP285-5-4 Confidentiality: All personal and financial data will be protected in accordance with Neftaly’s Privacy Management Procedures (NeftalyP370).
- NeftalyP285-5-5 Transparency: Terms and conditions must be communicated clearly to all borrowers.
NeftalyP285-6 Loan Management Procedures
NeftalyP285-6-1 Loan Application
- NeftalyP285-6-1-1 Human Capital must complete the NeftalyF285-01 Loan Application Form.
- NeftalyP285-6-1-2 Applications must include the purpose of the loan, requested amount, repayment plan, and relevant supporting documents.
- NeftalyP285-6-1-3 Officers submit applications to their respective Royal Directors for initial review.
NeftalyP285-6-2 Loan Review and Approval
- NeftalyP285-6-2-1 Royal Directors assess applications for completeness and eligibility.
- NeftalyP285-6-2-2 The Chief Human Capital Officer (CHCO) verifies financial feasibility and repayment capacity.
- NeftalyP285-6-2-3 The Chief Executive Officer (CEO) or authorized Deputy Chief provides final approval.
- NeftalyP285-6-2-4 Approved applications are recorded in the NeftalyR285-01 Loan Register.
NeftalyP285-6-3 Loan Disbursement
- NeftalyP285-6-3-1 Once approved, the Finance Royal Division releases funds to the applicant’s designated account.
- NeftalyP285-6-3-2 A formal loan agreement (NeftalyF285-02 Loan Agreement Form) must be signed by both parties before disbursement.
- NeftalyP285-6-3-3 Disbursement records are maintained for audit purposes.
NeftalyP285-6-4 Loan Repayment
- NeftalyP285-6-4-1 Repayment schedules are established based on loan type and amount.
- NeftalyP285-6-4-2 Repayments may be deducted from salaries or made via approved Neftaly payment methods.
- NeftalyP285-6-4-3 The Finance Royal Division maintains monthly repayment records in the NeftalyR285-02 Repayment Register.
NeftalyP285-6-5 Loan Monitoring and Reporting
- NeftalyP285-6-5-1 Officers track repayment compliance and report delinquencies to Royal Directors.
- NeftalyP285-6-5-2 Quarterly reports are reviewed by the CHCO to ensure compliance.
- NeftalyP285-6-5-3 Annual loan audits are conducted to verify accuracy and accountability.
NeftalyP285-6-6 Loan Recovery
- NeftalyP285-6-6-1 In case of default, Neftaly initiates recovery actions as per the Neftaly Loan Recovery Framework.
- NeftalyP285-6-6-2 Recovery may include salary deductions, withholding of benefits, or legal recovery actions if necessary.
- NeftalyP285-6-6-3 The CHCO and Finance Division must jointly approve all recovery measures.
NeftalyP285-6-7 Neftaly Bank Loan Closure
- NeftalyP285-6-7-1 Neftaly Chief Financial Officer to collect on Closing the loan No Objection Certificate (NOC)
- NeftalyP285-6-7-2 Neftaly Chief Financial Officer to collect on Closing the loan Bank Loan Closure Letter
- NeftalyP285-6-7-3 Neftaly Chief Financial Officer to collect on Closing the loan Final Bank Loan Repayment Statement
- NeftalyP285-6-7-4 Neftaly Chief Financial Officer to collect on Closing the loanFinal Bank Loan Release of Collateral
- NeftalyP285-6-7-5 Neftaly Chief Financial Officer to collect on Closing the loan Original Bank Loan Agreement
NeftalyP285-7 Roles and Responsibilities
| Role | Responsibilities |
|---|---|
| Chief Executive Officer (CEO) | Approves high-value loans and oversees policy compliance. |
| Chief Human Capital Officer (CHCO) | Verifies eligibility, repayment capacity, and maintains loan oversight. |
| Royal Directors | Review and recommend loan applications from their divisions. |
| Deputy Chiefs | Support Directors in monitoring repayments and enforcing compliance. |
| Finance Royal Division | Manages disbursement, repayment, and reporting processes. |
| Officers and Human Capital | Submit applications, adhere to repayment plans, and maintain transparency. |
NeftalyP285-8 Documentation and Templates
- NeftalyP285-8-1 NeftalyF285-01: Loan Application Form
- NeftalyP285-8-2 NeftalyF285-02: Loan Agreement Form
- NeftalyP285-8-3 NeftalyR285-01: Loan Register
- NeftalyP285-8-4 NeftalyR285-02: Repayment Register
- NeftalyP285-8-5 NeftalyF285-03: Loan Repayment Schedule Template
- NeftalyP285-8-6 NeftalyR285-03: Quarterly Loan Report Template
NeftalyP285-9 Monitoring and Review
- NeftalyP285-9-1 The CHCO monitors all loan activities and ensures compliance with this policy.
- NeftalyP285-9-2 Quarterly reports are submitted to the CEO and Board Royal Committee.
- NeftalyP285-9-3 Annual reviews assess the effectiveness of the loan management system and update procedures if required.
NeftalyP285-10 Compliance and Enforcement
- NeftalyP285-10-1 All Human Capital must adhere to NeftalyP285 policy requirements.
- NeftalyP285-10-2 Non-compliance may lead to disciplinary measures, financial penalties, or loan suspension.
- NeftalyP285-10-3 Fraudulent activity or misuse of funds will result in termination and possible legal action.
NeftalyP285-11 FAQs
Q1: Who is eligible for a Neftaly loan?
A: All permanent Human Capital who have completed at least six months of continuous service.
Q2: How long does approval take?
A: The standard approval period is 7–14 working days, depending on loan type and completeness of documentation.
Q3: Can loans be refinanced or extended?
A: Yes, subject to approval by the CHCO and Finance Royal Division.
Q4: What happens in case of default?
A: Recovery actions, including salary deductions or legal recovery, will be initiated.
Q5: Are loans confidential?
A: Yes, all loan records are handled under strict confidentiality in compliance with NeftalyP370.
Approved By:
Neftaly Malatjie
Chief Executive Officer
Neftaly Human Capital Division