Source: Microfinance Information eXchange (MIX).
Original press release available here.
WASHINGTON, March 25 – Microfinance Information eXchange (MIX) held a workshop in Accra, Ghana, on March 17 – 21 to train network partners and microfinance institutions on using the industry standard financial reporting framework. The training was performed by MIX staff members and organized by partner Ghamfin, the Ghana microfinance network.
The workshop was designed to train practitioners and others on the framework developed by SEEP to standardize the way the diverse and growing microfinance industry reports financials, allowing for practitioners, donors and others to measure the true performance of an MFI, and providing an “apples-to-apples” comparison among MFIs employing the framework.
The SEEP framework was developed specifically for microfinance institutions’ (MFIs’) financial statements. Because microfinance is a diverse and growing global industry, accepted universal standards by which performance can be measured is necessary. By developing a common framework for microfinance institutions throughout the developing world to employ when reporting financials and performance, microfinance practitioners, managers, board members, analysts, donors, investors and policy makers can measure the true performance of an MFI. Additionally, the use of standardized reporting increases transparency among the institutions. For more information, visit www.seepnetwork.org. MIX participated in the development of the SEEP Framework, along with other microfinance industry leaders.
MIX is the leading provider of business information and data services for the microfinance industry. Dedicated to strengthening the microfinance sector by promoting transparency, MIX provides detailed performance and financial information on microfinance institutions, investors, networks and service providers associated with the industry. MIX does this through a variety of publicly available platforms, including MIX Market and the MicroBanking Bulletin.
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