News about the European Code of Good Conduct

CoCG

 

MicroFinanza Rating is proud to announce that the pilot phase testing the European Code of Good Conduct (ECoGc) for microcredit provision has come to an end in April 2017. During the pilot phase, the providers that went through the CoGC evaluation offered valuable food for thought when it comes to applying the Code in the field.

This test phase has allowed some conclusions to be drawn in order to better meet the needs of the microcredit market in Europe. Among the relevant updates, the priority clause 1.2 on disclosure of APR has been revised to bring the Code better in line with realities of the market for other MFIs that might follow. Additionally the grace period to comply with the ECoGc has been extended from 18 months to 36 months for greenfield financial intermediaries. Find out more on the EaSI Micpro platform.

 

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

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