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INSIGHT: The new regulatory framework in Bolivia

MicroFinanza Rating is pleased to share the significant changes promoted by the new Law of Financial Services N. 393 of the 21st of August, 2013 and by other legislative dispositions in Bolivia, with the objective of analyzing its implications and possible consequences for the microfinance sector in the short and medium term. Enjoy the reading.

Join the 9th Edition of the Boulder Microfinance Training Programme for LAC

Organized by the Boulder Institute of Microfinance in collaboration with Red Financiera Rural (RFR) and the University Simon Bolivar, the Boulder Microfinance Training (MFT) Program will take place in Quito, Ecuador, from March 9th – 20th and is specifically designed to meet the industry needs in the Region. Courses will focus on risk management and how to face competition, internal control and fraud prevention, governance and management of conflicts, strategic planning and advanced payment management systems, among others. A dedicated program will target cooperatives and MFIs, who are offering agricultural products with different cash flows and long production cycle.

The 2015 program features also include a Master Class on the new paradigms for financial inclusion, led by Boulder President, Robert Christen, and accompanied by special invitees, where every morning participants will discuss on the current state of the industry, challenges, and cutting edge developments. Moreover, the Class will integrate eligible training courses such as: financial inclusion, responsible finance, innovation, technology, microinsurance and agricultural finance, among others.

For more details on the Program:

To register:

To have a look on the schedule and themes of the Master Class

For additional information, feel free to write at

Boulder Institute of Microfinance
Tel/Fax: + (56-2) 26733747 / + (56-2) 26728462

9th Spanish Edition of the Boulder Microfinance Training Programme in Quito, March 9-20

MicroFinanza Rating Latin America Director, Evrim Kirimkan (read profile), will be holding two courses titled respectively "Comprehensive evaluation of performance: financial and social" and "Financial risks management" as part of the Boulder Microfinance Training (MFT) Program, which takes place in Quito, Ecuador, 9-20 March.

To learn more about the training courses please click on the following links:
Comprehensive evaluation of performance: financial and social
Financial risks management

The courses will combine theoretical presentations with participatory discussions and exercises. Best practices and practical cases will be discussed to improve the comprehension of each topic.
Click here to register NOW or feel free to write at

Newly posted job vacancy

Check out the current job opportunity available at the Bishkek Regional Office. Find the open position under the Section "Who we are".

2015 EMN European Microfinance Research Award - Call for papers

In anticipation of the 12th Annual European Microfinance Network (EMN) Conference to be held in Dublin on June 18th and 19th 2015, the EMN together with the Research Group "Financial Inclusion and New Entrepreneurship" of the Hague University of Applied Sciences are pleased to announce the re-launch of the European Microfinance Research Award. This year's award has a €1.000 endowment!
Papers eligible for selection should present ongoing or finalized research on issues related to microfinance in the European Union and EFTA countries exclusively. It is a great opportunity for research fellows in the European microfinance market to gain exposure to the network and the sector as a whole

  • Handing in of abstracts: Monday, January 19th, 2015
  • Acceptance notification: Monday, January 26th, 2015
  • Handing in of full papers: Monday, March 9th, 2015

For more information on the application process, deadline and contacts, click here.

European Funds for Financial Inclusion 2014-2020 – Workshop in Milan, 18 December 2014

As guest speaker MicroFinanza Rating will be participating in the workshop titled "European Funds for Financial Inclusion 2014-2020" organized by Fondazione Giordano dell'Amore (FGDA) and by the European Investment Fund (EIF), within the framework of measures taken by the European Union to facilitate access to credit: in particular the Programme for Employment and Social Innovation (EaSI) and the EIB Group Risk Enhancement Mandate for SMEs through smaller co-operative banks. The workshop aims at presenting the different funding lines and requirements of the calls for expressions of interest that are going to be published, by analyzing the potentialities of such lines in relation to the type of institution.

For more details about the event, download the flyer.

INSIGHT: The Microfinance Sector in Nigeria

Since the advent of microfinance banking in Nigeria, the microfinance sector has been confronted with several challenges and the impact of the global financial crisis on Microfinance Banks has been more severe than anticipated.
MicroFinanza Rating is pleased to share some of the features of the microfinance sector in Nigeria, highlighting the main challenges and threats that the Nigerian MFIs are currently encountering.

Download the Insight.

European Code of Good Conduct for Microcredit Provision and EaSI funding

MicroFinanza Rating is pleased to share an interesting workshop organized by the European Commission, which will take place in Brussels on 1 December 2014.
In the framework of the EU Programme for Employment and Social Innovation (EaSI), the workshop focuses on the European Code of Good Conduct for Microcredit Provision and has the objective to address its practical implementation in relation to:

  • the EaSI technical assistance for microcredit providers that will be made available under the new period 2014-2020; and
  • the adherence to the Code by public and private bodies willing to benefit from funding opportunities in the framework of the EaSI Programme, the successor programme of Progress Microfinance.

To have additional information and to register for the workshop, please visit the following website of the European Microfinance Network.

MicroFinanza Rating at the European Microfinance Week, 12-14 November, Luxembourg

As guest speaker Aldo Moauro, MFR Executive Director, will be holding two panels, respectively "Microfinance and poverty" on Thursday, Nov 13th, and "Social and financial performance: better together?" on Friday, Nov 14th, as part of the European Microfinance Week, carrying the theme of Developing Better Markets.
The first panel will focus on the poverty outreach results from social ratings conducted by MicroFinanza Rating since 2007, while the second panel will highlight the differences and similarities of MicroFinanza Rating research on financial and social performances compared to the results presented by Moody's.
To have more information, visit the website of the European Microfinance Platform, which is the organizer of the event.

VisionFund AzerCredit is SMART certified by MicroFinanza Rating

As Client Protection Certifier licensed by the SMART Campaign, MicroFinanza Rating is happy to announce that a new Certificate has been given to AzerCredit – Azerbaijan since the institution has demonstrated to accomplish with all the Certification standards derived from the seven client protection principles. The mission of VF AzerCredit is to provide financial services, which have a positive impact on the lives of the poor. As such, today VF AzerCredit operates 43 outlets throughout the country, which serve around 80,000 customers with loan products primarily. For more details on the Methodology used by MicroFinanza Rating, see the "SMART Certification" section of our website.

5 Case studies of MFI compliance with the Universal Standards developed by MFR

In partnership with the Microfinance Centre (MFC), MicroFinanza Rating developed 5 new case studies for the SP Fund series within the framework of the Social Performance Fund for Networks project funded by the Ford Foundation.
Learn how the selected microfinance institutions achieved high level of compliance in 5 Standards of the USSPM.

Read more about their achievements:

First 2 Credit Ratings released in Bolivia by MFR as licensed rating agency

MicroFinanza Rating has successfully released and published the credit rating of Sembrar Sartawi (BBB3) and Banco PyME de la Comunidad (A3). It is a milestone for MicroFinanza Rating that received the license from the Supervisory Authority of the Financial System (ASFI) in January 2014.

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