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13/06/2018
MFR at the next SPTF Social Investor Working Group meeting

The next SPTF Social Investor Working Group meeting will take place in Luxembourg on June 18-19 hosted by the Ministry of Foreign and European Affairs (MAEE) and in partnership with the Inclusive Finance Network Luxembourg (InFiNe.lu).

During the meeting, MFR Business Development Director, Lucia Spaggiari, will present a draft study, supported by SPTF and European Microfinance Platform (e-MFP), on assessing Environmental and Social performance of SME finance institutions.

Furthermore, investors will continue to discuss areas of priority defined by group members including:

  • ALINUS and the harmonization of SPM assessment
  • SPM due diligence and monitoring of fintech investments
  • Collaborative investor action to address over-indebtedness
  • Alignment with broader impact investing initiatives

 

For more info on the Meeting, click here.

06/06/2018
2° Foro Internacional de Microfinanzas 11-12 junio, Perú

asomif logo

 

MicroFinanza Rating participará en el 2° Foro Internacional de Microfinanzas, organizado por la Asociación de Instituciones de Microfinanzas del Perú - ASOMIF PERÚ que se realizará en Lima del 11 al 12 de junio. Evrim Kirimkan, Director Regional para América Latina en MFR, participarà en el evento como panelista con una conferencia titulada: "Lograr la misión institucional mediante la gestión del desempeño social: marco conceptual, benchmark regional y experiencia práctica". El foro es el espacio propicio para que todos los líderes del sector microfinanciero interactúen, reflexionen, actualicen, fortalezcan y compartan sus conocimientos con las nuevas tendencias y desafíos para la inclusión financiera en un entorno digital. Para más información, visite el sitio web del foro.

17/05/2018
Celebrating 100 Smart Certifications!

smart100inst

The Smart Campaign announces that 100 financial service providers have attained Smart Certification. The #SmartCertified100 represents a landmark in the financial inclusion industry by elevating the client voice, convening partners to effect change at the national level, and supporting the implementation of consumer friendly financial regulation.

MFR congratulates the Smart Campaign and all certified financial service providers for the great achievement.

We are proud to be part of such valuable initiative by having certified 54 financial service providers!

The Smart Campaign Client Protection Certification is an independent, third party evaluation to publicly recognize financial institutions that meet adequate standards of care in how they implement the Client Protection Principles throughout their operations, product offerings and treatment of clients.

Client Protection Certification is a highly-valued mark by the industry, including many investors and donors, as ‘doing no harm to clients’ is the minimum that most stakeholders expect from the sector.

To lear more visit Consumer Protection Resource Kit.

 

Follow us on Twitter and LinkedIn for updates and important news from the microfinance sector.

16/04/2018
Servicios Financieros Enlace has been awarded the Truelift Achiever Milestone

MicroFinanza Rating announces that Servicios Financieros Enlace is now recognized by Truelift as the Achiever Milestone.

An Achiever institution demonstrates that it meets expectations in all three areas of outreach, adapted services, and tracking of client progress. Its results show a significant positive impact on many of its clients’ lives. The institution has good performance and earns a minimum appropriate score in all three Pro-Poor Principles. It demonstrates its financial sustainability and strength, and sufficiently complies with the Universal Standards for Social Performance Management. An Achiever institution’s actions indicate quality pro-poor microfinance practice.

Servicios Financieros Enlace provides financial services to micro and small entrepreneurs throughout El Salvador. ENLACE was established in 1998 as a programme of the Catholic Relief Services (CRS) and several local partners. The MFI offers various financial services, such as housing, agricultural or seasonal loans. ENLACE reaches out to the poorest people in El Salvador by channel financing mainly through solidarity groups, fostering inclusion by providing financial support to entrepreneurs that are willing to start new businesses or strengthen the economic activity upon which they base their living.

Find more on Servicios Financieros Enlace here.

 

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Enlace TrueliftCertificate Apr-2018

16/04/2018
Pro Mujer Nicaragua has been awarded the Truelift Achiever Milestone

MicroFinanza Rating announces that Pro Mujer Nicaragua is now recognized by Truelift as the Achiever Milestone.

An Achiever institution demonstrates that it meets expectations in all three areas of outreach, adapted services, and tracking of client progress. Its results show a significant positive impact on many of its clients’ lives. The institution has good performance and earns a minimum appropriate score in all three Pro-Poor Principles. It demonstrates its financial sustainability and strength, and sufficiently complies with the Universal Standards for Social Performance Management. An Achiever institution’s actions indicate quality pro-poor microfinance practice.

Pro Mujer Nicaragua was the first replication of the Bolivian ProMujer model. It was established in 1996 to provide credit and training to women. Due to the mountain areas and low population density, each of the Service Centers in Nicaragua receives more than 8 thousand clients and has a wide geographical coverage. Most of PMN's clients live in remote rural areas and Pro Mujer consultants travel long distances on motorcycles to reach them and offer them vital services that they would otherwise probably get not.

Find more on Pro Mujer Nicaragua here.

 

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PM-Nicaragua TrueliftCertificate Apr-2018

16/04/2018
COOPAC Microfinanzas PRISMA has been awarded the Truelift Emerging Practitioner Milestone

MicroFinanza Rating announces that COOPAC Microfinanzas PRISMA is now recognized by Truelift as having arrived at the Emerging Practitioner Milestone.

An Emerging institution acts on its commitment to pro-poor microfinance by first completing the Indicators self-assessment tool. The institution learns that it performs reasonably well but has also identifies areas for improvement. From these areas, the institution seeks to enhance its practices for clients living in poverty and reach the next milestone on the pro-poor pathway. Through active involvement in the Community of Practice and by demonstrating some of the best practices in serving poor clients, the institution displays client-centric actions.

COOPAC Microfinanzas PRISMA is a Peruvian cooperative headquartered in Lima, Peru. The organization aims to provide their members with working capital, savings accounts, a variety of trainings and micro-insurance to sustainably impact their livelihoods.COOPAC Microfinanzas Prisma’s main sectors of impact are agriculture, commerce, services and production, with the majority of the borrowers being rural women.

Find more on COOPAC Microfinanzas PRISMA here.

 

Follow us on Twitter and LinkedIn for updates and important news from the microfinance sector.

 

Prisma TrueliftCertificate Apr-2018

16/04/2018
Fundación para el Desarrollo Integral Espoir has been awarded the Truelift Emerging Practitioner Milestone

MicroFinanza Rating announces that Fundación para el Desarrollo Integral Espoir is now recognized by Truelift as having arrived at the Emerging Practitioner Milestone.

An Emerging institution acts on its commitment to pro-poor microfinance by first completing the Indicators self-assessment tool. The institution learns that it performs reasonably well but has also identifies areas for improvement. From these areas, the institution seeks to enhance its practices for clients living in poverty and reach the next milestone on the pro-poor pathway. Through active involvement in the Community of Practice and by demonstrating some of the best practices in serving poor clients, the institution displays client-centric actions.

Fundación para el Desarrollo Integral Espoir in Ecuador started in 1992 as a program of Project HOPE and is now fully independent as a private non-profit organization (NGO). Espoir was one of the first programs globally to integrate village/communal banking with education, especially health education and now health services as well, in cooperation with local health service providers. While most of the credit is through communal banks, Espoir also offers individual loans, especially for agriculture.

Find more on Fundación para el Desarrollo Integral Espoir here.

 

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ESPOIR TrueliftCertificate Apr-2018

16/04/2018
Fundenuse S.A has been awarded the Truelift Emerging Practitioner Milestone

MicroFinanza Rating announces that Fundenuse S.A is now recognized by Truelift as having arrived at the Emerging Practitioner Milestone.

An Emerging institution acts on its commitment to pro-poor microfinance by first completing the Indicators self-assessment tool. The institution learns that it performs reasonably well but has also identifies areas for improvement. From these areas, the institution seeks to enhance its practices for clients living in poverty and reach the next milestone on the pro-poor pathway. Through active involvement in the Community of Practice and by demonstrating some of the best practices in serving poor clients, the institution displays client-centric actions.

Fundenuse S.A is a non-bank financial institution (NBFI) in Nicaragua specializing in microfinance. Fundenuse started operations in 1993 as an NGO, and since 2012 as an NBFI. Fundenuse has branches throughout northern, central and western Nicaragua, mainly in rural areas. Its services are aimed at micro and small entrepreneurs not already served by other financial service providers. Fundenuse offers both solidarity group and individual loans, along with a range of appropriate insurance products plus well-designed and free financial education.

Find more on Fundenuse S.A here.

 

Follow us on Twitter and LinkedIn for updates and important news from the microfinance sector.

 

Fundenuse TrueliftCertificate Apr-2018

12/04/2018
MFR is the first company accredited to conduct GSMA Mobile Money Certification assessments

MFR is proud to announce that it has been selected as the first company to conduct assessments under the GSMA Mobile Money Certification scheme.

MFR has been chosen for its extensive knowledge of the financial inclusion industry, capacity to carry out independent and impartial evaluations, diverse and qualified team of assessors and proven track record of assessments performed under various certification schemes.

MFR Executive Director Mr Aldo Moauro said: “I am delighted to announce that MFR has been accredited as assessor within the GSMA Mobile Money Certification. We are proud to bring our longstanding experience as independent third-party evaluators, raters and certifiers to the mobile money ecosystem and to work with such a prestigious brand as the GSMA.”

 

MFR’s team of qualified assessors started piloting the GSMA Mobile Money Certifications by visiting Orange in Ivory Coast and the pioneer of M-PESA Safaricom in Kenya. Then, three additional operators have been assessed, TIGO and Vodacom in Tanzania and Telenor Pakistan.

On April 12, 2018 the mobile money providers mentioned above have been awarded the first GSMA Mobile Money Certifications by the Certification Scheme Operator, Alliances Management. The Certification is a global initiative to bring safer, more transparent, and more resilient financial services to millions of mobile money users around the world.

The GSMA Mobile Money Certification defines and promotes excellence in the provision of mobile money services. It is based on independent assessments of a provider's ability to deliver secure and reliable services, to protect the rights of consumers and to combat money laundering and the financing of terrorism. These efforts are measured against global industry best practice, and a pass mark of 100% is required. The Certification aims to enhance consumer trust, accelerate commercial partnerships, and set a public bar to which all providers can aspire.

The five certified mobile money providers have proven that their business practices are amongst the best in the industry, and that they are serious about protecting the rights of consumers, delivering reliable and secure services, and combatting money laundering and the financing of terrorism. They are trustworthy and responsible financial institutions on a par with the rest of the financial ecosystem.

The Certification will help to take the industry to the next level by improving the quality of services and customer satisfaction, facilitating the implementation of trusted partnerships, building trust with regulators and encouraging the implementation of appropriate and proportional regulatory standards. Enhancing trust in mobile financial services is in the collective interest of the private sector, governments, regulators, and consumers.

The Certification represents a strong proactive move on behalf of the mobile money industry, demonstrating its commitment to AML / CFT, and to delivering quality, safe and fair services to customers. Responsible business practices are essential to help regulators achieve their goals around financial inclusion, stability, integrity and consumer protection.

The Certification stamp is a sign that a provider has taken steps to ensure that a high level of customer service can be expected, that their funds are in safe hands, and that their rights are protected.

If you wish to learn more about the GSMA Mobile Money Certification, please visit the following webpage: https://gsmamobilemoneycertification.com.

 

"It was a real pleasure to share this GSMA code of conduct certification process with MFR. Thank you so much for your very appreciated support and for all valuable recommendations as well."
orange-logo-vector
Claude Serre,
Head of Risk & Security for Mobile Banking Services, Orange

 

Follow us on Twitter and LinkedIn for updates and important news from the microfinance sector.

28/02/2018
UNRWA Microfinance Department has been awarded the Truelift Leader Milestone

MicroFinanza Rating announces that UNRWA Microfinance Department - Palestine is now recognized by Truelift as the Leader Milestone.

The Leader milestone is the most significant and prestigious of the Truelift milestones, given only to those institutions that are excellent in all three of the Pro-Poor Principles. Truelift Leaders are financially sustainable, demonstrate a responsible financial performance, are Smart Campaign certified in client protection and fully meet the Universal Standards for Social Performance Management Dimensions on balancing financial and social return.

The UNRWA microfinance department provides sustainable income-generation opportunities for Palestine refugees, as well as other poor or marginalised groups who live and work near them. It extends credit and complementary financial services to households, entrepreneurs and small-business owners. These investments create and sustain jobs, reduce poverty and empower our clients, particularly women. By lending to Palestine refugees, women, youth and other marginalized clients, the microfinance department supports UNRWA’s human development goal of “A Decent Standard of Living.” The department organizes its programming with the strategic objective of providing its clients with “inclusive financial services and increased access to credit and saving facilities” that can provide them with new opportunities.

Find more on UNRWA Microfinance Department here.

 

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UNRWA MD Palestine TrueliftCertificate Feb 2018

26/02/2018
Fundación Amanecer has been awarded the Truelift Achiever Milestone

MicroFinanza Rating announces that Fundación Amanecer is now recognized by Truelift as the Achiever Milestone.

An Achiever institution demonstrates that it meets expectations in all three areas of outreach, adapted services, and tracking of client progress. Its results show a significant positive impact on many of its clients’ lives. The institution has good performance and earns a minimum appropriate score in all three Pro-Poor Principles. It demonstrates its financial sustainability and strength, and sufficiently complies with the Universal Standards for Social Performance Management. An Achiever institution’s actions indicate quality pro-poor microfinance practice.

Fundación Amanecer was founded in 1994 by a group of oil companies that work in the Orinoquía region of Colombia. The organization’s mission is to contribute to increased human and economic productivity in the region by providing comprehensive training and promoting entrepreneurship. To that end the foundation provides microentrepreneurs with working capital loans, access to basic business education, and more specialized training in enterprise formation.

Find more on Fundación Amanecer here.

 

Follow us on Twitter and LinkedIn for updates and important news from the microfinance sector.

 

Amanecer TrueliftCertificate Feb-2018

26/02/2018
Banco VisionFund Ecuador has been awarded the Truelift Leader Milestone

MicroFinanza Rating announces that Banco VisionFund Ecuador is now recognized by Truelift as the Leader Milestone.

The Leader milestone is the most significant and prestigious of the Truelift milestones, given only to those institutions that are excellent in all three of the Pro-Poor Principles. Truelift Leaders are financially sustainable, demonstrate a responsible financial performance, are Smart Campaign certified in client protection and fully meet the Universal Standards for Social Performance Management Dimensions on balancing financial and social return.

Banco VisionFund Ecuador, formerly known as FODEMI, is a microfinance bank based in the city of Ibarra that launched its operations in 1995. VisionFund Ecuador is affiliated with VisionFund International (VFI), which provides education, health, and development services in rural and disadvantaged communities in almost 40 countries. VisionFund Ecuador provides small loans and non-financial services to micro enterprises in provinces in the central and northern highlands of Ecuador via a network of branches and sales points. Most clients work in agriculture, tourism, industry and handicrafts. The MFI maintains a strong focus on women-headed households, in line with its social objectives of reaching out to the most disadvantaged families.

Find more on Banco VisionFund Ecuador here.

 

Follow us on Twitter and LinkedIn for updates and important news from the microfinance sector.

 

BVE TrueliftCertificate Feb-2018

COOPAC Microfinanzas PRISMA has been awarded the Truelift Emerging Practitioner Milestone

MicroFinanza Rating announces that COOPAC Microfinanzas PRISMA is now recognized by Truelift as having arrived at the Emerging Practitioner Milestone.

An Emerging institution acts on its commitment to pro-poor microfinance by first completing the Indicators self-assessment tool. The institution learns that it performs reasonably well but has also identifies areas for improvement. From these areas, the institution seeks to enhance its practices for clients living in poverty and reach the next milestone on the pro-poor pathway. Through active involvement in the Community of Practice and by demonstrating some of the best practices in serving poor clients, the institution displays client-centric actions.

COOPAC Microfinanzas PRISMA is a Peruvian cooperative headquartered in Lima, Peru. The organization aims to provide their members with working capital, savings accounts, a variety of trainings and micro-insurance to sustainably impact their livelihoods.COOPAC Microfinanzas Prisma’s main sectors of impact are agriculture, commerce, services and production, with the majority of the borrowers being rural women.

Find more on COOPAC Microfinanzas PRISMA here.

 

Follow us on Twitter and LinkedIn for updates and important news from the microfinance sector.

 

Prisma TrueliftCertificate Apr-2018

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