MICROCAPITAL BRIEF: Grameen Foundation Spins Off Mifos Microfinance Institution Software to Open Source Community

Mifos is a software package used to manage the data of microfinance institutions. The software is “open-source” meaning that it is free of charge and can be edited to meet local needs. The microbanks that use Mifos reportedly serve about 850,000 clients as of June 2011 [1]. The US-based Grameen Foundation, which launched Mifos in 2006, has decided to transition management and development of the software package to the Community for Open Source Microfinance (COSM), a nonprofit formed for this purpose [1] [2]. As part of the transition plan, Mifos software, including licenses, copyrights, and trademarks, will be held by the Software Freedom Conservancy (SFC), a nonprofit based in New York that helps “promote, improve, develop, and defend Free, Libre, and Open Source Software (FLOSS) projects” [2].

By Natalie Baer, Research Associate

About the Grameen Foundation: The Grameen Foundation, a nonprofit based in Washington, DC, aims to help microfinance institutions throughout the world replicate the joint-liability model of the Grameen Bank of Bangladesh. The Grameen Foundation provides financial, technological and managerial support to provide new business opportunities and telecommunication services for poor people in rural areas. Though it is independent of the Grameen Bank, Dr. Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors. Grameen Foundation reported total assets of USD 33.1 million as of March 31, 2010.

About the Community for Open Source Microfinance (COSM): The Community for Open Source Microfinance (COSM) is a nonprofit organization established in 2012 to manage and develop the Mifos microfinance institution software package. COSM’s mission is “to scale the growth and impact of microfinance by coordinating a global community that builds, supports, and uses Mifos, a free and open software system to more effectively and efficiently deliver financial services to the poor.” Mifos was launched in 2006 by the US-based Grameen Foundation.

Sources and Additional Resources:

[1] Grameen Foundation to Transition Mifos to Community-Led Effort
http://mifos.org/community/news/grameen-foundation-transition-mifos-community-led-effort

[2] Mifos Transition Plan Finalized – Next Phase of Mifos Begins http://mifos.org/community/news/mifos-transition-plan-finalized-next-phase-mifos-begins

MicroCapital story, December 27, 2010, “MICROCAPITAL BRIEF: Grameen Foundation Releases Updated Microfinance Management Information Software (MIS) Mifos 2.0” https://www.microcapital.org/microcapital-brief-grameen-foundation-releases-updated-microfinance-management-information-software-mis-mifos-2-0/

MicroCapital story, November 24, 2010, “MICROCAPITAL BRIEF: Grameen Foundation Launches Upgraded Mifos Cloud Service For Microfinance Institutions (MFIs) in India” https://www.microcapital.org/microcapital-brief-grameen-foundation-launches-upgraded-mifos-cloud-service-for-microfinance-institutions-mfis-in-india/

MicroCapital story, May 14, 2009, “MICROCAPITAL STORY: Enda Inter-Arabe Rolls Out Grameen Foundation’s Mifos Information Management Platform to 52 Branches with Assistance from Grameen-Jameel and ThoughtWorks” https://www.microcapital.org/microcapital-story-enda-inter-arabe-rolls-out-grameen-foundation%E2%80%99s-mifos-information-management-platform-to-52-branches-with-assistance-from-grameen-jameel-and-thoughtworks/

MicroCapital Universe Profile: Community for Open Source Microfinance
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Community+for+Open+Source+Microfinance+%28COSM%29

MicroCapital Universe Profile: Grameen Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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