Creating a standard to recognize MFIs that are serving the poor
The Microcredit Summit Campaign recently announced development of a proposed new Seal of Excellence for Poverty Outreach and Transformation in Microfinance. Intended as a sort of “fair trade designation” for microfinance institutions, the Seal of Excellence would recognize superior performance by microfinance institutions (MFIs) which combine financial sustainability with both significant outreach among poor clients and with a strategic approach to poverty reduction and transformation.
The concept note Beyond ‘Ethical’ Financial Services describes the Seal of Excellence (Seal) as an idea "to set a vision for the sector in terms which highlight the potential of microfinance to serve the poor and to contribute to positive transformation in the lives of clients, their families and communities; and to provide a means of recognizing MFIs that are implementing this vision.
See full Press Release.
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