Italy’s MicroFinanza Rating recently certified two Moroccan microfinance institutions (MFIs), al Amana and Attawfiq Micro-Finance, as operating within the Smart Campaign’s Client Protection Principles. With a third institution, Tamwil El Fellah (TEF), having received certification in 2016, 64 percent of the customers of Moroccan MFIs are now served under the campaign, which is a program of the Center for Financial Inclusion at US-based NGO Accion. The principles include measures for preventing over-indebtedness, “responsible” pricing, privacy and others.
Al Amana has a gross loan portfolio USD 251 million. Of its 335,000 active loans, 43 percent are issued to women. Attawfiq has a gross loan portfolio of USD 230 million and 270,000 active borrowers served via 440 branches.
Sources and Additional Resources
Information provided to MicroCapital by Microfinanza Rating
Smart Campaign’s Client Protection Principles
Al Amana profile from the Microfinance Information Exchange
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/