MICROCAPITAL BRIEF: Small Enterprise Education and Promotion (SEEP) Network Releases “Pocket Guide to the Microfinance Financial Reporting Standards: Measuring Financial Performance of Microfinance Institutions”

The Small Enterprise Education and Promotion (SEEP) Network recently released new financial performance reporting standards for microfinance institutions (MFIs) that are intended to help microfinance stakeholders evaluate MFI performance based on a universal set of criteria. The guide, entitled “Pocket Guide to the Microfinance Financial Reporting Standards: Measuring Financial Performance of Microfinance Institutions,” was developed by the Financial Services Working Group at SEEP Network as part of the Microfinance Financial Reporting Standards (MFRS) initiative, which seeks to establish a set of financial reporting standards that would be used globally.

The guide was developed in collaboration with nongovernmental organizations (NGOs), rating agencies, central banks and microfinance associations. It contains updates to the 2005 version of the SEEP Framework, a previous guide for MFI financial performance reporting. The guide also explains how to use and interpret financial reporting ratios. It has been translated into French and Spanish, with translations into Russian, Arabic, Mandarin and Portuguese planned for 2011 [1].

By Julie Moksim, Research Associate

About Small Enterprise Education and Promotion (SEEP) Network: The Small Enterprise Education and Promotion (SEEP) Network, founded in 1985, connects microenterprise practitioners from around the world to develop practical guidance and tools, build capacity and help set standards to advance its mission of sustainable income in every household. Its members are reportedly active in 180 countries. Headquartered in Washington DC, SEEP is governed by its members, which include microfinance institutions (MFIs) and nongovernmental organizations (NGOs).

[1] Small Enterprise Education and Promotion (SEEP) Network Press Release: “The SEEP Network Releases New Standards on Financial Performance Reporting for Microfinance Institutions”, information provided by SEEP Network to MicroCapital

MicroCapital’s Microfinance Universe Profile: Small Enterprise Education and Promotion (SEEP) Network

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Small+Enterprise+Education+and+Promotion+%28SEEP%29+Network

Similar Posts: