• Contact Us
  • Receive SEEP Updates
 
         
  • SEEP Member Space
  • Become a Member
  • About
    • Our Story
    • Our Core Values
    • Our Team
    • Partner with SEEP
    • Board of Directors
    • COVID-19 Response
  • Membership
    • Meet Our Members
    • Benefits
    • How to Apply
    • SEEP & AMEA Partnership
    • SEEP Member Marketplace
    • SEEP Member Space
    • GenerationNOW
  • Thematic Areas
    • Agriculture & Food Security
      • Agriculture & Food Security Resource Library
    • Resilient Markets
      • Minimum Economic Recovery Standards
      • Markets in Crises Community of Practice
      • Livelihoods and Inclusive Finance Expansion
      • Disaster Risk Reduction
      • Resilient Markets Resource Library
    • Responsible Finance
      • Responsible Finance through Local Leadership and Learning
      • Association Services
      • Online Courses and Certification in Digital Finance
      • Responsible Finance Resource Library
    • Savings Groups
      • Women Saving for Resilience
      • Mastercard Foundation Savings Learning Lab
      • Savings-Led Working Group
      • Savings Groups Evidence and Learning Initiative
      • Red GALAC
      • The Mango Tree
      • SG2020: The Future of Savings Groups
    • Women's Economic Empowerment
      • WEE Global Learning Forum
      • WEE Working Group
      • WEE Peer Learning Group
      • AWEF Learning Series
      • WEE Resource Library
  • SEEP Resources
  • Blogs and Webinars
    • Blogs
    • Webinars on Demand
  • Events
  • Conferences
    • 2020 SEEP Annual Conference
    • SG2020: The Future of Savings Groups
    • 2017 Women’s Economic Empowerment Global Learning Forum
  • Contact Us
  • Receive SEEP Updates
  • SEEP Member Space
  • Become a Member
       

 Back

Microfinance Reporting Standards Initiative: Business Models Review

Aug 13, 2009 | by

As microfinance grows globally, developing commonly agreed-upon reporting standards is becoming more and more important to the credibility, standardization, and long-term prospects of the industry. This paper draws on examples from the mainstream accounting standards world, as well as from other industries with accepted standards, to illustrate the importance of, and best practice in, standards bodies to develop, maintain, and promote reporting standards within an industry.
IASB and FASB provide key examples of bodies that evolved, over time, out of existing organizations, and can inform the development of a Microfinance Reporting Standards Initiative (Reporting Standards Initiative). After examining different standards bodies and other organizations, several critical actions have been identified to create a successful reporting standards body in the microfinance industry:
  1. Promote stakeholder engagement in a participatory process and build stakeholder confidence in the new body and its authority to set standards and rules.
  2. House the body within an existing, respected microfinance organization, until it is stable and recognized enough to “spin out” into an independent entity.
  3. Support the perceived and real independence of the initiative and the eventual new body, in order to maintain trust among stakeholders.
  4. Ensure sufficient and diverse capital to finance the new body without compromising its independence.
  5. Keep the effort tied to the microfinance industry, for now, while keeping open the option to join a larger body such as IASB.
  6. Seek advice of standards bodies outside of microfinance. MFIs cannot and should not do it themselves.
  7. Create incentives for microfinance institutions to adopt and comply with standards, and to provide feedback to the standards body.
  8. Build capacity to work with governments and national and regional professional bodies.

Categories: Microfinance English Unpublished Resources SEEP Resource Library Resources

Search Now
Filter By Category
topics
  • All
  • Consumer Protection
  • Disaster Risk Reduction
  • Economic Strengthening and Recovery
  • Financial Inclusion
  • Food Security
  • Fragile and Conflict-affected Environments
  • Health
  • Livelihoods
  • Market Systems
  • Microfinance
  • Monitoring and Evaluation
  • Rural and Agricultural Finance
  • Savings Groups
  • Technology
  • Women and Girls
  • Youth and Children
Thematic Areas
  • All
  • Agriculture & Food Security
  • Resilient Markets
  • Responsible Finance
  • Women's Economic Empowerment

Language

  • All
  • Arabic
  • English
  • French
  • Portuguese
  • Spanish

Geographical Region

  • All
  • East Asia and Pacific
  • Eastern Europe and Central Asia
  • Global
  • Latin America and The Caribbean
  • South America
  • South Asia
  • Sub-Saharan Africa
  • Western Europe

Year Published

  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003

logo.png

1621 North Kent Street, Ste 900,
Arlington, VA, 22209

P 202.534.1400
F 703.276.1433

Website Photos: © mari matsuri

QUICK LINKS
  • Home
  • About SEEP
  • Membership
  • Our Thematic Areas
  • SEEP Resources
  • Join our Team
  • COVID-19 Response
  • SEEP Blog
  • Webinars on Demand
  • Events
  • Jobs in the Network
  • Privacy Policy
CONNECT WITH US

             

Get News

 
Website by Morweb.org
© 2023 SEEP. All rights reserved.