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El équipo de MFR se solidariza con Ecuador

Todo el équipo de MFR desea expresar su solidaridad y apoyo a Ecuador ante el reciente terremoto del pasado sábado.
En particular, nos solidarizamos con las familias de las víctimas de esta tragedia.
En estos momentos difíciles, Ecuador necesita nuestra ayuda y colaboración para superar la crisis humanitaria. Pueden realizar cualquier donación con las siguientes organizaciones internacionales:

- Red Cross


- Oxfam

- World Vision

World Food Program

Two new countries Smart Certified by MicroFinanza Rating: Georgia and India!

MicroFinanza Rating is pleased to announce that MFIs from two more countries have been added to our list of certified organisations.

We are indeed glad to report that Finca Bank Georgia and Annapurna Microfinance Pvt are now Smart Certified, recognizing compliance with the client protection principles.

New milestone for client protection: 25 Million clients and 50 Smart Certified institution

The Smart Campaign has just announced that there are now 50 financial institutions that have been awarded Smart Certification, reaching out roughly 25 million clients. The threshold was crossed also thanks to the recent certified organisations as Fundacion Paraguaya in Paraguay, Pro Mujer in Nicaragua and AgroInvest in Serbia.

Please read more here and join us by keeping also your clients first in microfinance.


Upcoming missions and events – Quarter 2, 2016

During the upcoming quarter, MFR’s team will be visiting the following countries:  Albania, Bolivia, Bulgaria, Cameroun, China, Ecuador, Georgia, Italy, Kazakhstan, Kyrgyzstan, Madagascar, Morocco, Peru, Poland, Romania, Rwanda, Tajikistan, Zambia among others.

Moreover, we will be participating to the following events:


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




EaSI Technical assistance now open to non-EU members

The Employment and Social Innovation (EaSI) Programme is an EU financing instrument that offers institutional assessment or rating and tailored training to all microcredit providers (greenfield microfinance institutions, non-bank microcredit providers and licensed banks). In addition to the 28 member states of the European Union, institutions from Albania, FYROM, Iceland, Montenegro, Norway, Serbia and Turkey may now respond to dedicated calls for expression of interest to request technical assistance.

The beneficiaries are selected from responses of Calls for Expression of Interest that are regularly launched by EaSI TA. To apply, non-bank microcredit providers must sign up to the European Code of Good Conduct for Microcredit Provision, a European-wide initiative to promote best practices within the sector.

You can sign up to the Code by clicking here

MFR supports the Tajikistan Housing Finance II Programme

MicroFinanza Rating is consulting KfW and the Tajik Ministry of Economic Development and Trade (MEDT) on the selection of up to 5 Partner Financial Institutions (PFIs) for the second phase of the Housing Finance Programme implemented within the German-Tajik Financial Cooperation. Building on the successes of its predecessor, the follow-on programme aims to further promote rural low- and middle-income households' access to long-term local currency financing for housing-specific purposes: purchase, construction, renovation, and expansion of living space. The programme has earmarked up to EUR 7 million in grant funds that will be allocated to MEDT for on-lending to selected PFIs that will then extend the funds as housing loans to target beneficiaries in rural Tajikistan. As the technical consultant, MFR designed a PFI evaluation scheme according to the program requirements and is currently assisting in the identification of local financial institutions eligible for undergoing due diligences, the results of which will inform the final selection of programme PFIs.

Upcoming missions and events – Quarter 1, 2016

During the upcoming quarter, MFR’s team will be visiting the following countries:  Argentina, Azerbaijan, Bangladesh, Bosnia, Colombia, Hungary, Mexico, Nicaragua, Peru, Romania, Serbia, Slovenia, Spain, The Netherlands among others.

Moreover, we will be participating to the following events:


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




MI-BOSPO (BiH) is re-certified in Client Protection

We are pleased to announce that MI-BOSPO, a microfinance institution based in Tuzla, BiH, was recertified in client protection in October 2015MI-BOSPO was awarded during the MFC Conference that took place in November 2015 in Prague and is one of the first institutions globally to be re-certified. 

The Smart Campaign embodies a set of core principles for the treatment of microfinance clients - the minimum standards that clients should expect to receive when doing business with a microfinance institution. MI-BOSPO gave tangible proof of commitment and professionalism, which allowed the institution to achieve certification both in 2013 (for a 2-year period) and 2015 (for a 4-year period). The CPC process for MI-BOSPO has been financed by IFC.

MFR provides client protection technical assistance to National Bank of Tajikistan

MicroFinanza Rating, jointly with Armenian legal and regulatory compliance consultants, is assisting the National Bank of Tajikistan in strengthening its financial consumer protection regulations. Funded by the World Bank Group, the Technical Assistance seeks to support reforms to the local frameworks for supervision of responsible market conduct based on best practices. Specifically, MFR is providing the National Bank's newly established Financial Consumer Protection Department with its regional as well as global expertise in consumer protection regulation that draws upon an international consensus emerging around the SMART Client Protection Principles.

AFK Mikrofinanca is the first Kosovan MFI certified in Client Protection

MicroFinanza Rating, Client Protection Certifier licensed by the SMART Campaign, is glad to announce that AFK Mikrofinanca is the first MFI in Kosovo to be certified in Client Protection. AFK has demonstrated to accomplish with all the Certification standards derived from the seven client protection principles.

For more information on the institution, please visit their website.

MFR at European Microfinance Week, 18th - 20th November, Luxembourg

MFR will participate in the annual European Microfinance Week in Luxembourg  (18th-20th November) and will be represented by Aldo Moauro, Executive Director, and Lucia Spaggiari, Social Rating Director. The conference is aimed at promoting best practices and cooperation among European microfinance actors, while also trying to find solutions to global microfinance challenges.

On November 18th, MFR, a member of the e-MFP Microfinance and Environment Action Group, will share the green index methodology used in social ratings, related findings, and relevant case studies as part of the “Training on Environmental Performance.”

On November 19th, MFR, a member of the SPTF Outcomes Working Group, will present about the experience of developing an impact measurement system for housing microfinance in the panel on “Assessing impact in microfinance: new perspectives.”

For more information, please visit the European Microfinance Week webpage.

MFR contributes to pilot new draft client protection standards. Get involved!

Back in 2012, MFR contributed to the definition of the Smart Campaign certification standards by conducting the first Certification pilots of Mi-Bospo and Partner in Bosnia and Herzegovina. Three years later, the constructing liaison with the Smart Campaigns continues with two more pilots Certification in South Asia and ECA using the draft Certification standards 2.0.
As back in 2012, MFR is glad to contribute to strengthen and update the standards and indicators.
The new Certification standards 2.0 streamline the previous one and reflect the evolving financial inclusion industry by including client risks related to insurance, saving and digital services.
Standards are open for public comment till November 30, 2015. The Smart Campaign invites all stakeholders to offer comment via survey or email by using the excel-based draft of the standards.
The final version will be released in January 2016 and will come into effect and become the basis for certification as of June 2016. Get involved!

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