MicroFinance Transparency (MFTransparency), a US-based nongovernmental organization that provides information on microcredit products and their prices, is partnering with Pakistan Microfinance Network (PMN), a network of 29 microfinance providers in Pakistan, to publish pricing data on loans offered by microfinance institutions in Pakistan. According to Chuck Waterfield, MFTransparency’s CEO, “We’ve had a solid relationship with PMN since the first months that [MFTransparency] was founded, but we never had the funding in place to move forward. We can now do so, and this will be our first country of the 30 we have done in which the national network will be fully engaged in the first round of pricing data collection.” PMN’s CEO, Syed Mohsin Ahmed, said, “A pricing initiative for Pakistan’s microfinance industry is one of the foundations for the PMN’s work in responsible finance in Pakistan, more specifically, within client protection. We hope that with a standardized approach to calculating pricing of microfinance services in Pakistan will help microfinance clients and stakeholders understand the product offerings more closely.”
As of March 2012, MFTransparency reported total assets of USD 538,489. As of January 2013, PMN’s membership base is comprised of nine microfinance banks, ten microfinance institutions, five rural support programs and five uncategorized microfinance providers.
By Lena Phillips, Research Associate
About MicroFinance Transparency (MFTransparency)
MFTransparency is a US-based nongovernmental organization (NGO) that was launched in July 2008 to provide information on microcredit products and their prices. MFTransparency collects data on the interest and fees charged on microfinance loan products in order to calculate and publicize the effective interest rates charged on those loans. According to its website, 889 industry stakeholders have endorsed its efforts as of 2011. As of March 31, 2012, MFTransparency reported total assets of USD 538,489. As of January 2013, MFTransparency has collected data from 30 countries on four continents, including 16 countries in Sub-Saharan Africa.
About Pakistan Microfinance Network (PMN)
The Pakistan Microfinance Network (PMN), founded in 1997, is a network of microfinance providers in Pakistan that aims to promote financial access for poor people. PMN’s membership base is comprised of nine microfinance banks, ten microfinance institutions, five rural support programs and five uncategorized microfinance providers as of January 2013. Its main objectives are promoting an enabling environment for microfinance, disseminating information and capacity building, especially for retail microfinance institutions.
Sources and Additional Resources:
MFTransparency.org Press Release, “MFTransparency Announces Partnership with Pakistan Microfinance Network”, http://www.mftransparency.org/mftransparency-announces-partnership-with-pakistan-microfinance-network/
MicroCapital.org Article, 15 August 2012: “MICROCAPITAL BRIEF: MFTransparency Partners with Planet Rating, Microfinance Institutions Network (MFIN) of India to Improve Pricing Transparency”, https://www.microcapital.org/microcapital-brief-mftransparency-partners-with-planet-rating-microfinance-institutions-network-mfin-of-india-to-improve-pricing-transparency/#more-19900
MicroCapital.org Article, 19 April 2011: “MICROCAPITAL BRIEF: Pakistan Poverty Alleviation Fund (PPAF), Pakistan Microfinance Network (PMN) to Launch Online Platform to Share Information on Microfinance Providers”, https://www.microcapital.org/microcapital-brief-pakistan-poverty-alleviation-fund-ppaf-pakistan-microfinance-network-pmn-to-launch-online-platform-to-share-information-on-microfinance-providers/
MicroCapital Universe Profile: MicroFinance Transparency, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MFTransparency
MicroCapital Universe Profile: Pakistan Microfinance Network (PMN), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pakistan+Microfinance+Network+%28PMN%29#Description_
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