Microfinance Institutional Rating (MIR)


It provides an opinion on the long-term institutional sustainability and creditworthiness through a comprehensive assessment of risks, performance, market position and responsible practices. Clients may choose between a public (rating grade assigned and disclosed) or private (rating grade not assigned or not disclosed) rating.


  • Clear picture of financial performance to the MFI
  • Alignment to international standards
  • Compare to benchmarks and best practices.
  • Message of transparency to stakeholders
  • Prove institutional and financial soundness to investors
  • Financial performance management system
  • Visibility and facilitate access to funding sources
  • Preliminary tool to know potential clients, facilitate a first off-site selection and contribute in making decisions on resources allocation
  • A second opinion
  • Focus on specific RISK AREAS
  • Standardized information as a basis for monitoring risk and performance of investments


The Microfinance Rating PLUS methodology integrates client protection and other social risks factors to the traditional financial analysis in order to better address the increasing relevance of the reputation risk for the long-term institutional sustainability of the MFI. Building on the social rating experience, it represents the coordinated answer from the microfinance rating agencies to the evidence that client protection and other social measures are essential to the long term success of the business and to preserve the image of the microfinance industry as a whole.

Areas of analysis

  1. External context
  2. Governance and strategy alt
  3. Organization and operations alt
  4. Client protection alt
  5. Assets quality and structure
  6. Financial structure and management
  7. Financial and operational resultsalt

altSocial aspectsincorporated to assess the reputation risk: responsible governance, client protection, responsible finance.

Contact our Operations Director Giorgia Carloni, This e-mail address is being protected from spambots. You need JavaScript enabled to view it to have additional information.

"JSC MFO Crystal is greatly satisfied with the rating assessment conducted by MicroFinanza Rating in 2012. We highly appreciate overall qualification, professionalism and analytical skills of the rating team. The process was very helpful not only in terms of next grading of our institution, but also for identifying important risk areas that have been overlooked by management before."

Malkhaz Dzadzua
CEO of JSC MFO Crystal

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