Additional information


en			ru			jp

Finance Lounge

Add privatebanking.com as a search provider to your browser

Advanced Search

Private Banking & Wealth Management search tool

Search entity

The MicroFinance Network (MFN)

Back

Review Avg.
Reviews:	0

Contact Page

Additional information

Write Review

Browse Review

Additional information

The MicroFinance Network (MFN)

Mission statement:

The Microfinance Network is a global association of institutions committed to
improving the quality of life of the poor through the provision of credit, savings
instruments and other financial services. The members of the Network believe in
the establishment of sustainable and profitable institutions that operate on
commercial principles and serve large volumes of clients who are not currently
served by traditional financial institutions.

The Microfinance Network members are dedicated to both financial and social
goals. The Network's aim is to promote microfinance institutions that embrace a
commercial strategy as a mean to achieve social goals in a sustainable way.
Network members seek to become models of best practice in balancing financial
and social aims. MFN also seeks to influence the microfinance community and
financial system to incorporate double bottom line values.

Overview:

The MicroFinance Network members come from diverse organisations operating in different contexts. We come together around these common principles:

1.     Customer-oriented organisation. We seek to be customer-oriented organisations. We are committed to improving the lives of our clients treating every customer with dignity and respect.

2.     Sustainability and profitability. We seek to become sustainable and profitable organisations to serve clients not currently accessed by traditional financial institutions.

3.     Market-driven principles. We adapt market-driven principles used in formal financial systems, including pricing of our products.

4.     New business models. We seek to establish innovative business models in line with our strong social objectives. We are committed to invest our resources to achieve these goals, expanding client outreach within our target markets and developing appropriate products to address our clients' needs.

5.     Integral part of the financial sector. We seek to consolidate as an integral part of the financial sector in order to have greater access to diverse funding sources including local and international capital markets.

6.     Transformation. We seek to transform into regulated financial institutions when and if this contributes to our expansion goals under local environments.

7.     Good governance. We follow governance best practices used among regulated financial institutions globally.

8.     Transparency. We are committed to disclose our respective performance indicators to the public, both in financial terms and in social terms.

9.     Social performance management. We seek to develop and implement effective social performance indicators in order to reflect to our respective social and financial missions.

10.   Pro-employee organisation. We also seek to be pro-employee organisations. We are committed to improving the lives of our employees treating every employee with dignity and respect.

History:

MicroFinance Network was founded in April 1993 by participants at a meeting focused on microenterprise development, hosted by BancoSol in Bolivia.

Microenterprise practitioners from around the world gathered to review the steps taken by PRODEM, a Bolivian non-governmental organization (NGO) to create Banco Solidario, S.A., the first Latin American private commercial bank solely dedicated to serving the microfinance market. During the conference, participants explored some of the major challenges faced by the NGO PRODEM as it created a regulated financial institution. Some of the key challenges discussed included: gaining acceptance by employees and management of a radically new organizational structure, raising capital from outside investors, and negotiating with regulators and supervisors new to microfinance.

At the end of the conference, participants agreed that the dialogue had been beneficial and should continue - thus created the MicroFinance Network. MFN members further defined their common goals and objectives, while establishing specific membership selection criteria.

Through a shared vision and commitment to success, MFN members have challenged one another to set an example for the finance and development communities by working to become successful and sustainable microfinance institutions in their respective countries and regions. An emphasis was placed on creating institutions that would be fully self-sufficient and would have access to commercial financial markets to fund their growth.

MFN has now grown to include most of the leading microfinance institutions from around the world.

Back

Privatebanking.com

Get the attention you always wanted and promote your corporate image and standing by benefiting from our state of the art interactive web presence.

Ascent Limited

Experience The Difference. Ascent Limited provides first class wealth management and family office services. Our private banking team, assembled from a group of highly experienced banking professionals, will provide financial advice tailored to your individual requirements and keep your portfolio in tune with the latest market developments and opportunities.

©	Copyright by PRIVATE BANKING.COM 2002- - All rights reserved.