Media Stories

• Oikocredit USA

  Pricing Transparency in Microfinance: Interview With Chuck Waterfield, CEO of MFTransparency

  Chuck Waterfield, CEO of MicroFinance Transparency, talks with us about pricing methodologies and the progress that has been made in pricing transparency in the last of our three-part series. (2012-02-10) Link >>

• AllAfrica.com

  Rwanda: Ignorance Weighs Down Access to Loans

  Limited knowledge about the products, costs as well as charges by financial institutions is halting access to finance for small and micro businesses, according to experts. Jessica Massie, a consultant with Microfinance Transparency notes that most borrowers lack basic knowledge about financial products offered by lenders, particularly bank charges, interest rates and the cost of a product. (2012-01-18) Link >>

• microDINERO

  Mexican microfinance comes under spotlight in duel of words

  A new round of what is thought the most persistent rivalry in the microfinance industry played out at this month’s Global Microfinance Summit in Valladolid, Spain, with Mexico’s Compartamos Banco in one corner and the U.S. organization MFTransparency in the other. The first round came during the workshop “Is Transparency Enough? What is Fair and Ethical When it Comes to Interest Rates in Microfinance?” The panel debated a paper written by Waterfield himself. Elizabeth Ryne of ACCION International’s Center for Financial Inclusion moderated the panel made up of Danel, Waterfield, Nadine Chehade of Planet Rating (Lebanon) and P.N. Vasudevan of Equitas (India). (2011-11-17) Link >>

• Microfinance Focus

  Microfinance IPOs – downfall or salvation?

  MFTransparency CEO Chuck Waterfield debates the role of IPOs in microfinance at the Microcredit Summit. (2011-11-16) Link >>

• Microfinance Focus

  An interest-ing workshop at Global Microcredit Summit

  In only three short years, MFTransparency has become ubiquitous in the industry. This is in part, no doubt, because its CEO Chuck Waterfield is an impressive and engaging speaker. But much more, it’s because transparency in pricing is a concept whose time has most definitely come. (2011-11-15) Link >>

• Microfinance Focus

  Reserve Bank of Malawi institutionalizing responsible practice

  According to a MFTransparency paper ‘Reserve Bank of Malawi on Pricing Disclosure’, the new pricing disclosure policy in the Malawi Microfinance Bill is a very ambitious step for a nascent market. (2011-11-11) Link >>

• Microfinance Focus

  Transparent microfinance pricing in Bosnia and Herzegovina

  MFTransparency, in a paper 'Standardized Loan Documentation in Bosnia and Herzegovina’, states that the policy framework for pricing disclosure in the microfinance markets of these countries provides the industry with numerous mechanisms for facilitating transparent pricing. (2011-11-04) Link >>

• Microfinance Focus

  Declining balance interest rates better for microfinance borrowers

  Widespread adoption of the declining balance interest rate calculation method is better for microfinance borrowers, and the market as a whole. According to MFTransparency paper ‘Flat vs Declining Balance Interest Rates: What is the Difference?’, a borrower only pays interest on the actual money he or she has in hand at any given time, when interest is calculated using declining balance method. (2011-10-27) Link >>

• Oikocredit USA

  Pricing Transparency in Microfinance: No Single Price for Microloans

  This is a continuation of Oikocredit USA’s Microfinance Investor Education Series. Alexandra Fiorillo at MicroFinance Transparency presents her second installation of MFTransparency’s three-part series on pricing transparency. This installation will take us deeper into the lack of a single price for micro-loans. (2011-10-24) Link >>

• BlueOrchard

  MFTransparency Interview in the BlueOrchard Social Performance Report 2011

  MFTransparency CEO Chuck Waterfield is interviewed in the BlueOrchard 2011 Social Performance Report. (2011-10-24) Link >>

• FINCA

  Improving Microfinance Together

  A new Microfinance CEO Working Group has been formed to promote strong consumer protection, meaningful transparency and development of industry standards of social performance management and measurement. The group supports MFTransparency as a critical component of this work. (2011-10-20) Link >>

• Center for Financial Inclusion Blog

  Policymakers Collaborate for Transparency in Africa

  Last week, MFTransparency hosted the first “African Microfinance Pricing Transparency Leadership Forum” in Nairobi. The meeting was one of the more unique and encouraging microfinance events I’ve ever attended. (2011-10-13) Link >>

• The MIX

  MIX Data and Map Provide a Comprehensive View of African Financial Inclusion for the Poor

  MIX (Microfinance Information Exchange), today launched the Africa Map of Financial Inclusion for the Poor (africa.mixmarket.org) to help practitioners and policymakers better understand access to finance in Africa. (2011-09-20) Link >>

• Microfinance Focus

  Microfinance Transparent Pricing Initiative in Ethiopia

  MFTransparency and the Association of Ethiopian Microfinance Institutions (AEMFI) will launch the Transparent Pricing Initiative in Ethiopia on September 20. (2011-09-08) Link >>

• MicroCapital

  Chuck Waterfield of MFTransparency Explores Ideas to Make Microfinance Prices More Transparent

  Mr. Chuck Waterfield, founder and CEO of MFTransparency, recently contributed to the CGAP blog to suggest ideas for regulations that could encourage more transparent pricing in microfinance. He points out that most markets in which microfinance institutions (MFIs) operate lack the “Truth-in-Lending” legislation, thereby enabling them to “mask their prices” and leading to a complex pricing system. (2011-09-02) Link >>

• Kiva

  Kiva Recommends MFTransparency's Recent Post on the CGAP Blog

  A hot topic in microfinance has long been cost transparency for microloans. Read about the work being done by the not-for-profit organization, MicroFinance Transparency. (2011-08-29) Link >>

• Microfinance Focus

  16 MFIs in the Philippines submit data to MFTransparency

  First 16 microfinance institutions have submitted data to the Transparent Pricing Initiative in the Philippines which was launched by MicroFinance Transparency in March 2011. (2011-08-20) Link >>

• Opportunity International

  What We’re Reading: Top 10 Blogs About Microfinance & Poverty Eradication

  The MFTransparency blog deals with some of the challenges faced by for-profit and nonprofit microfinance organizations, and offers information and resources that encourage transparent pricing. (2011-08-18) Link >>

• CGAP

  Making Microfinance Prices More Transparent: Ideas for improving regulation

  With accurate, comparable information, all stakeholders can compare the prices of loans of identical sizes and purposes and make better informed decisions. (2011-08-17) Link >>

• Microfinance Focus

  MFTransparency, AMOMIF to launch Transparent Pricing Initiative in Mozambique

  MFTransparency and AMOMIF will co-host a workshop in Maputo, Mozambique on August 23, 2011 to launch the Transparent Pricing Initiative in Mozambique. (2011-08-16) Link >>

• Oikocredit USA

  Pricing Transparency in Microfinance: Path to Pricing Clarity in a Market for Low-Income Borrowers

  This is a continuation of Oikocredit USA’s Microfinance Investor Education Series, or MIE Series, designed to educate investors, advisors and fiduciaries about social impact issues in microfinance investing. Today’s blog is the first of a series of Guest Blogs by Alexandra Fiorillo at MicroFinance Transparency. (2011-08-15) Link >>

• MicroCapital

  National Bank of Rwanda (NBR) Incorporates Microfinance Programs as National Strategy to Achieve 80

  The National Bank of Rwanda plans to implement Umurenge SACCO (Savings and Credit Cooperative), financial literacy campaigns as well as “Access to Finance” forums as part of its strategy to support the country in increasing access to finance to 80 percent of the population with a target per capita income of at least USD 1,000 by 2017. (2011-07-28) Link >>

• UNB Connect

  More Transparent Microfinance Institutes Suggested – Bangladesh

  Dhaka, July 26 (UNB) – Speakers at a dialogue on microfinance Tuesday suggested greater transparency in terms of charges, terms and conditions in Microfinance Institutions (MFIs) to help the benefits of credit penetrate target groups. (2011-07-27) Link >>

• Microfinance Focus

  6 non-practitioner microfinance leaders who shaped the industry growth

  Microfinance Focus team has reviewed the contribution of some of these leaders and has listed out six non-practitioners who shaped the industry’s growth. Chuck Waterfield founded MicroFinance Transparency in July 2008, to enable transparent communication between suppliers and consumers of microcredit products by presenting information on credit products and their prices in a clear and consistent fashion. (2011-07-27) Link >>

• Microfinance Focus

  MFTransparency to host Uganda Data Launch Webinar

  MFTransparency will be hosting a webinar to launch the transparent microloan pricing data collected in the Transparent Pricing Initiative in Uganda on July 27, 2011. (2011-07-18) Link >>

• MicroCapital

  Microfinance Investment Transparency and Evaluation in Washington DC, USA, and Online, July 20, 2011

  Mr Sebastian von Stauffenberg, CEO of MicroRate, and Mr Chuck Waterfield, CEO of MFTransparency will speak about transparent pricing for responsible investment, the role of investors and the microfinance evaluation landscape. (2011-07-13) Link >>

• USAID

  Microfinance Investment Transparency and Evaluation

  On July 20, the CEOs of MicroRate and MFTransparency will speak about transparent pricing for responsible investment, the role of investors, and the microfinance evaluation landscape, including the Smart Campaign and Social Performance Task Force. (2011-07-06) Link >>

• Social Performance Task Force

  HRH Princess Maxima present at the launch of Universal Standards for Social Performance

  Microfinance industry stakeholders from around the world have assembled at the annual meeting of the Social Performance Task Force (SPTF). Their aim is to advance the global social performance agenda to the benefit of the microfinance client. The SPTF will launch Universal Standards for Social Performance, an initiative that defines the guidelines and benchmarks any double or triple bottom line institution should be accountable to. (2011-06-21) Link >>

• Microfinance Focus

  MFTransparency launches Transparent Pricing Initiative in Zambia

  MicroFinance Transparency (MFTransparency), an international non-governmental organization, on Monday launched its Transparent Pricing Initiative in Zambia. (2011-06-21) Link >>

• Microfinance Focus

  Ten Ghana based Microfinance Institutions participate in Transparent Pricing Initiative

  Ten microfinance institutions based in Ghana recently participated in MicroFinance Transparency’s Transparent Pricing Initiative by submitting their microloan product information and pricing data. (2011-06-16) Link >>

• SF Public Press

  Microfinance comes under intense scrutiny for high interest rates, profits

  Given the size of the industry, experts say that transparency of financial information about products offered by microfinance organizations is crucial to ensuring their social impact. (2011-06-16) Link >>

• Beyond Profit

  MICROFINANCE MISUNDERSTANDINGS

  This article identifies five key misunderstandings about the microfinance industry, the first being the perception of exorbitant interest rates. MFTransparency seeks to address this misunderstanding by educating industry stakeholders, publishing accurate, comparable pricing data for microloan products and facilitating informed discussion about the topic of pricing. (2011-06-13) Link >>

• Bank of Zambia

  Transparent Pricing Initiative Launch: Remarks by the Governor of the Bank of Zambia

  It is imperative that all institutions provide the price of their loans in terms of the Annual Percentage Rate rather than a monthly percentage. In this way, transparency is enhanced and consumers would have a clear picture of precisely how much they need to borrow relative to their income levels. This would result in responsible lending and a more competitive and transparent microfinance industry. (2011-06-10) Link >>

• APPG

  Helping or hurting: What role for microfinance in the fight against poverty?

  The Social Performance Taskforce is now undertaking a consultation on creating ‘Universal Standards for Social Performance’, building on the work of the Smart Campaign, MicroFinance Transparency, CERISE and the Imp-Act Consortium. (2011-06-10) Link >>

• RESULTS

  The trials and tribulations of microfinance: Putting the rumours to bed

  MicroFinance Transparency was employed as an independent expert to investigate Grameen Bank's pricing: they found that Grameen had the most (i.e. 100%) transparent interest rates of any MFI globally (which they stated was ‘unprecedented’) and that the highest interest rate they ever charged was 22.84%. (2011-06-07) Link >>

• Times of Trenton

  Opinion: Bangladesh Supreme Court decision damages microcredit success of Grameen Bank

  Microfinance Transparency (mftransparency.org) and the government’s own review committee found Grameen has the lowest interest rates in the country. (2011-06-03) Link >>

• MicroCapital

  MFTransparency, AMIZ Launch Transparent Pricing Initiative in Zambia

  US-based nonprofit MFTransparency and the 24-member Association of MicroFinance Institutions of Zambia (AMIZ) will co-host a workshop in Lusaka, Zambia, on June 6, 2011, effectively launching the Transparent Pricing Initiative in Zambia, the goal of which is to publish comparable cost data on microfinance products to help poor people make informed decisions when borrowing. (2011-06-03) Link >>

• MicroCapital

  MFTransparency Launches Microfinance Transparent Pricing Initiative in Guinea Bissau, Tanzania

  MFTransparency recently announced plans to expand its Transparent Pricing Initiative to Guinea Bissau and Tanzania with the objective of collecting and publishing pricing data for microfinance products offered in each country and providing training on financial literacy for microfinance clients. (2011-05-30) Link >>

• Smart Campaign

  Putting Transparency into Practice: Communicating About Pricing

  This new tool, a collaboration of MFTransparency and the Smart Campaign, describes how financial service providers observe the principle of transparency, current resources that exist to help providers understand and communicate their prices to clients, and information on where providers can find more information. (2011-05-24) Link >>

• RESULTS

  Mohammad Yunus ousted of head of Grameen: full story

  MicroFinance Transparency found that Grameen had the most (i.e. 100%) transparent interest rates of any MFI globally and that the highest rate they ever charged was 22.84%. (2011-05-19) Link >>

• Microfinance Centre (MFC) for CEE & NIS

  MicroFinance Transparency is a TA provider for the Social Performance Start-up Fund

  MFTransparency is selected as an official technical assistance provider for the MFC Social Performance Start-up Fund for Networks. (2011-05-18) Link >>

• Microfinance Focus

  MFTransparency launches updated pricing data for Cambodia

  MFTransparency, an international non-governmental organization recently published an updated pricing data for Cambodia for 2010, building on the original dataset published in 2009. (2011-04-29) Link >>

• allAfrica

  Rwanda: Microfinance Association Urged On Transparency

  The Association of Microfinance Institutions in Rwanda (AMIR) has urged Microfinance Institutions (MFIs) to ensure transparency and mitigate business risks. (2011-04-26) Link >>

• CGAP

  Can Industry Data and Transparency Strengthen Microfinance?

  CGAP has long viewed information and transparency as a crucial component in shaping the microfinance industry. We have come to expect that consistent, reliable data strengthens microfinance performance and policy dialog. (2011-04-25) Link >>

• The MIX

  MFTransparency and MIX Market

  In the past week, both David Roodman and MFTransparency have posted on the relationship between yields and APRs for microfinance institutions. We are happy to see the dialogue deepen on what we really know about what MFIs charge their clients. Both posts shed good insight onto what APR and yield are and are not. (2011-04-07) Link >>

• Manila Times

  Rural bankers embrace more transparent services

  Last month, the Rural Bankers Association of the Philippines (RBAP) and MFTransparency, a global network advocating transparency among microfinance institutions, and the Microfinance Council of the Philippines held the Transparent Pricing Initiative forum to promote primarily responsibility among financial institutions in providing information to their clients. (2011-04-07) Link >>

• The Financial Express

  Uncovering Grameen Banks interest rate riddle

  The MFTransparency report will verify that the allegations of charging 30 per cent interest on loans and an additional 10 percent in "forced savings" is manifestly false and utterly ill-conceived. The interest rates on all four categories of loans have been verified by MicroFinance Transparency, a USA based, globally recognized, international certification agency. (2011-03-31) Link >>

• Colombia Reports

  Microfinance Conference to begin Thursday

  There will numerous presentations at the conference addressing issues such as the state of the microfinance industry, the opportunities it presents for Latin America, challenges for the industry in 2011, and price transparency in Colombia. (2011-03-30) Link >>

• The Philippine Star

  Microfinance industry needs to implement reforms, reorientation

  Recently, MicroFinance Transparancy (MFTransparency) was in the Philippines to try to make some sense of all the disturbing feedback on the once-hailed answer to poverty. MFTransparency representatives held one-day seminars in three key regions to explain its advocacy for transparency in pricing of microfinance products. (2011-03-29) Link >>

• How We Made it in Africa

  Microfinance in Africa – a call for greater transparency

  Pricing transparency is an initiative which could provide some integrity to the industry, by communicating product pricing to consumers, thereby empowering them with choices amongst other things. MFTransparency, an initiative to promote the integrity of microfinance as a poverty alleviation practice, is active in 18 countries in Africa. (2011-03-28) Link >>

• The MIX

  Announcing new, exciting features for summer 2011!

  In response to the clear mandate that we have received from you and your peers, I am excited to announce that this summer, with the generous support of Omidyar Network, MIX will release a series of premium, fee-based services designed to better meet the business needs among our users, while furthering our mission of transparency. (2011-03-22) Link >>

• MicroCapital

  MFTransparency, RBAP and MCPI to Launch Transparent Pricing Initiative in the Philippines

  MFTransparency, a US-based nongovernmental organization (NGO) that aims to provide information on credit products and pricing, is expanding its Transparent Pricing Initiative to the Philippines in partnership with Microfinance Council of the Philippines, a trade association of microfinance organizations in the Philippines, and Rural Bankers Association of the Philippines (RBAP), a Philippines-based organization founded in 1955 to promote the rural banking industry. (2011-03-21) Link >>

• CGAP Microfinance Blog

  Microcredit Deserves Support, Not Suppression

  Owing to its innovative program design and practices, microcredit reaches many poor people who lack access to formal finance. This is clearly a major gain that protects the poor and other disadvantaged groups from resorting to informal loans at extortionate rates. (2011-03-21) Link >>

• Kenya Women Finance Trust

  Reflecting on the Year 2010

  KWFT's social performance commitment was also expressed by various disclosures and reports to interested institutions including MicroFinance Transparency (MFT) and the Microfinance Information Exchange (MIX) Market. (2011-03-20) Link >>

• Oikocredit

  MFTransparency reports on microloan pricing India

  MicroFinance Transparency has published microloan product pricing data for the Indian microfinance market on its website. The data submitted by 82 Indian microfinance institutions account for approximately 80% of the estimated total Indian market. (2011-03-16) Link >>

• Microenterprise Access to Banking Services

  Free Workshop: Learn Microfinance Transparency from the Experts

  Brought to you by MicroFinance Transparency (MFTransparency), the Microfinance Council of the Philippines (MCPI) and the Rural Bankers Association of the Philippines (RBAP), this workshop features microfinance experts Chuck Waterfield, MFTransparency CEO and President, and Alexandra Fiorillo, Vice President for Global Programs. (2011-03-15) Link >>

• Making Finance Work for Africa

  Kenyan President urges banks to lower lending rates

  Mwai Kibaki, President of Kenya, has urged banks and financial institutions in the country to lower their lending interest rates to help facilitate credit access to the population, Bloomberg reports. (2011-03-14) Link >>

• Huffington Post

  Microfinance Leaders Strive to Walk the Walk

  Chuck Waterfield is a gifted numbers geek whose work has helped hundreds of microfinance institutions (MFIs) better manage their financial information. In 2007, troubled by what he saw as excessive interest rates and profits at some MFIs, Chuck had the brilliant idea of collecting detailed pricing data from every MFI in a given country and publishing it in a comparable format. (2011-03-09) Link >>

• Oikocredit

  2010 figures: Oikocredit sharpens financial and social return in 2010

  In 2010, concerns have accompanied successes in the development finance sector. For Oikocredit - one of the world's largest private microfinance financiers - the year was one of solid social and financial performance and further innovations in the field of social performance management. (2011-03-02) Link >>

• Microfinance Africa

  MFTransparency and the Grameen Crédit Agricole Microfinance Foundation to Host the West Africa Event

  MFTransparency and the Grameen Crédit Agricole Microfinance Foundation have partnered to host the West African Transparent Pricing Workshop on Thursday, March 3rd in Dakar, Senegal. This groundbreaking event will bring together microfinance practitioners, networks, government officials and regulators for a one-day training workshop to promote pricing transparency standards followed by a half-day conference on current topics in West African microfinance markets. (2011-02-25) Link >>

• The MIX

  MIX Brings Social Performance to the Forefront of Microfinance

  Thanks to the support of the Michael & Susan Dell Foundation and the Ford Foundation, the Microfinance Information Exchange (MIX), the industry’s leading source for financial and social performance data, now offers funders and other stakeholders easy access to social performance information in conjunction with financial performance information. (2011-02-23) Link >>

• Microfinance Focus

  MFTransparency to organize ‘India Data Launch Conference’

  MFTransparency will launch the ‘India Data Launch Conference’ in Mumbai on February 25, 2011. The conference will be the formal launch event for the newly published India market data, currently available on the MFTransparency website. (2011-02-15) Link >>

• India Microfinance Business News

  Pricing Data for the Indian Microfinance Market released

  MicroFinance Transparency has completed an analysis of microloan pricing in India and has made the results available on it’s website. (2011-02-07) Link >>

• Darashaw

  Microfinance Pricing Report by MFTransparency

  Amid the hue and cry following the Andhra crisis that has been defined by many analysts and commentators as a “mid-life crisis”, MFTransparency, in collaboration with Citi Foundation, MFIN, Michael & Susan Dell Foundation and Standard Chartered has come out with the India Pricing Data Report. (2011-02-06) Link >>

• African Microfinance Transparency

  AMT Members Encouraged to Participate in Transparent Pricing Initiative

  In this African Microfinance Transparency (AMT) year-end review, "2010 in a Nutshell", all AMT members from 20 different countries are encouraged to submit their data to MFTransparency's Transparent Pricing Initiative. (2011-01-31) Link >>

• allAfrica.com

  West Africa: U.S. Organisation to Extend Launch of Transparent Pricing Initiative

  MicroFinance Transparency (MFTransparency) will expand the Transparent Pricing Initiative in West Africa to Togo and Benin this month with a workshop in Lome on January 18 and Cotonou on January 25. (2011-01-13) Link >>

• New York Times

  Microlenders, Honored With Nobel, Are Struggling

  “We at microfinance have a job to do to make it easier for politicians to support us,” said Alex Counts, the chief executive of the Grameen Foundation. “Rather than make claims that get out in front of the research, we need to impose on ourselves the discipline of transparency about poverty reduction.” (2011-01-06) Link >>

• The East African

  Transparent Pricing Initiative in Rwanda

  The following articles have been published about the launch of MFTransparency's Transparent Pricing Initiative in Rwanda. (2011-01-03) Link >>

• Microfinance Focus

  Representation to the Malegam Committee on microfinance

  Regulation should consider setting limits on extent of private ownership, limits of profits (in terms of ROE and ROA), restriction on accessing capital markets for equity in the initial years (say 7 years) and limits on executive remuneration. The transparency in disclosure could be implemented through organizations such as MicroFinance Transparency which is working on pricing transparency in the country. (2010-12-27) Link >>

• RESULTS

  Microfinance controversies: should international aid support microfinance?

  An interesting recent initiative that is opening up the interest rates charged in the sector to greater scrutiny is MicroFinance Transparency. Data is currently being collected for India, with 80 MFIs (including SKS) having provided data so far. (2010-12-23) Link >>

• Microfinance Gateway

  MicroFinance Transparency Presents Inaugural Newsletter

  Over the past year, the microfinance industry has made real progress toward transparent pricing, translating our stated commitment to responsible practice into action. MicroFinance Transparency is excited to share accomplishments through the first MicroFinance Transparency Newsletter. (2010-12-22) Link >>

• Digital Development Debates

  Best Case: Transparency in Microfinance

  Microfinance, originally a donor-funded innovation of the non-profit world, now more often makes headlines for its movement towards commercialization. As the debate about profit and social responsibility heats up, the importance of pricing transparency is growing increasingly apparent. (2010-12-17) Link >>

• The New Times

  MFI’s urged on transparent pricing

  Microfinance Institutions (MFIs) in Rwanda will start using transparent pricing through MFTransparency's Transparent Pricing Initiative, an initiative that aims at improving and promoting consumer protection. Ambassador Claver Gatete the Vice governor of the National Bank of Rwanda (BNR) who launched the initiative yesterday said it will build trust and confidence of MFI customers. (2010-12-13) Link >>

• Financial Times

  Clients are vulnerable and fragile

  The microfinance industry needs more transparency so that consumers, investors and donors know what they each expect, including the risks and the unintended consequences. There are a number of initiatives in this line. MFTransparency is an example. (2010-12-07) Link >>

• Daily Monitor

  New initiative to control microfinance interest rates launched

  The initiative is a joint venture between the Association of Micro Finance Institutions of Uganda and MicroFinance Transparency. According to Ms Alexandra Fiorillo, the MicroFinance Transparency Vice President, the initiative will provide training on transparent pricing to different industry stakeholders including microfinance institutions, regulators and funders. (2010-12-06) Link >>

• European Microfinance Platform

  European Microfinance Platform Urges for Rational Response to Indian Crisis

  The importance of financial and social performance needs to be emphasised at all levels of the microfinance chain. The European Microfinance Platform’s (e-MFP’s) work to date on responsible practices and its support of “The Smart Campaign for Microfinance Consumer Protection” and the “MicroFinance Transparency” initiative defending fair, transparent and responsible pricing are practical steps taken to ensure that European actors promote socially responsible microfinance principles. (2010-12-02) Link >>

• Banco Interamericano de Desarrollo

  Una metodología simple

  Cómo es el procedimiento de MFTransparency para explicar cómo se forman los precios de los microcréditos. (2010-11-23) Link >>

• Banco Interamericano de Desarrollo

  Los cazadores del precio perdido

  Una iniciativa global de MFTransparency quiere derribar las prácticas poco transparentes de la industria para contribuir a la competitividad. Los consumidores, agradecidos. (2010-11-23) Link >>

• CGAP Microfinance Blog

  Crisis by Invitation

  MFTransparency board member Narasimhan Srinivasan writes about responsible microfinance in this special series on the situation in the microfinance market of Andhra Pradesh. (2010-11-19) Link >>

• Microfinance Insights

  Interview with Chuck Waterfield of MicroFinance Transparency

  Chuck Waterfield discusses current issues in the Indian microfinance industry while at the 2010 annual Microfinance India Summit. (2010-11-15) Link >>

• The Economic Times

  How to fix flaws in the present microfinance model

  "When dealing with the poor, boards of MFIs should decide what constitutes a reasonable profit. Good governance demands a laxman rekha," says N Srinivasan, chairman of the US-based coalition MicroFinance Transparency (MFT). (2010-11-12) Link >>

• Microfinance Africa

  Winners Announced at First Annual Microfinance Recognition Awards

  On Tuesday 26th October 2010, Hanson Wade’s inaugural Microfinance Recognition Awards were launched in Washington D.C to celebrate those who have contributed innovative and original work within the Microfinance industry. MFTransparency received the award for Commitment to Social Performance and Transparency. (2010-11-11) Link >>

• Portal de Microfinanzas

  Jornada Iniciativa de Transparencia de Precios en Ecuador

  El próximo 30 de noviembre se celebrará en el Hotel Dann Carlton en Quito la Jornada Iniciativa de Transparencia de Precios en Ecuador organizada por MFTransparency, una iniciativa a escala mundial a favor de la asignación de precios transparentes y responsables en la industria de las microfinanzas.

  (2010-11-10) Link >>

• Microfinance Focus

  MFTransparency to launch transparent pricing data in Ecuador

  MFTransparency will host a conference for launching the data of the Transparent Pricing Initiative in Ecuador on November 30, 2010 in Quito, Ecuador. The event is organized in collaboration with the local microfinance network Red Financiera Rural (RFR). (2010-11-10) Link >>

• Voice of America

  Indian State Tightens Microcredit Rules Amid Suicide Scare

  Chuck Waterfield, the CEO of the U.S.-based MFTransparency says the questionable practices in Andhra Pradesh are affecting only a small percentage of India's 50 million microfinance clients. But he says these loan-shark tactics are a byproduct of the increasing competition among microfinance lenders. (2010-11-08) Link >>

• Portal de Microfinanzas

  Jornada Iniciativa de Transparencia de Precios en Bolivia

  El próximo 2 de diciembre se celebrará en el Radisson Plaza Hotel la Jornada Iniciativa de Transparencia de Precios en Bolivia organizada por MFTransparency, una iniciativa a escala mundial a favor de la asignación de precios transparentes y responsables en la industria de las microfinanzas. Tal Jornada forma parte de la Iniciativa de Transparencia de Precios en América Latina que MFTransparency viene desarrollando desde que se lanzó en abril de este año. El objetivo de esta Iniciativa es crear sensibilidad con respecto a la problemática de la transparencia de precios además de crear un entorno favorable a la transparencia y a la protección al consumidor. (2010-10-15) Link >>

• Caribbean 360

  Microfinance sector advised to work on transparency

  "The Latin American and Caribbean microfinance industry...will have to work hard to ensure transparency in its operations and its clients’ welfare," Inter-American Development Bank President Luis Alberto Moreno said today at Foromic 2010. MFTransparency spoke on the high profile panel on Consumer Protection and Responsible Finance that followed. (2010-10-07) Link >>

• Fast Company

  For-Profit Microfinance Matures, India and Africa Lead the Way

  The Africa Microfinance Network (AFMIN) and the global institution MFTransparency are partnering to promote the "Transparent Pricing Initiative," where members will receive training on pricing transparency and interest rate calculations. (2010-10-05) Link >>

• Microfinance Focus

  MFTransparency partners with African Microfinance Network

  MFTransparency and The Africa Microfinance Network (AFMIN) have announced their partnership to promote pricing transparency in microfinance throughout Africa. (2010-09-30) Link >>

• Microfinance Focus

  MFTransparency to launch pricing data for microloans in Bolivia

  MFTransparency will be hosting a conference on October 21, 2010 in La Paz, Bolivia to launch the pricing data it collected during the Transparent Pricing Initiative in the country as well as the progress of its other initiatives Latin America. (2010-09-21) Link >>

• Gender Links

  Can micro-finance help Africa meet the MDGs?

  Although microfinance has done a lot to help women in Africa, Vice President of MicroFinance Transparency, Alexandra Fiorillo, outlines certain concerns over lending. (2010-09-20) Link >>

• Daily Times Malawi

  Expert calls for openness in micro-finance lending

  Alexandra Fiorillo, Vice President of an international organization called MicroFinance Transparency, said in Lilongwe on Tuesday that transparency among the microfinance institutions could also earn them confidence among the public, government and donors. (2010-09-02) Link >>

• Portal de Microfinanzas

  Entrevista entre MFTransparency y Banco FIE en Bolivia

  MFTransparency conversó con Katya Collao Grandi, Jefe de Responsabilidad Socia Empresarial y Andrés Urquidi Selich, Gerente Nacional Comercial de Banco FIE sobre la situación actual con respecto a la transparencia de precios en Bolivia, el Código de Etica de Banco FIE y su compromiso social, así como los beneficios y desafíos de la Iniciativa de MFTransparency en Bolivia. Banco FIE es afiliado de ASOFIN y la segunda más grande IMF en términos de escala en Bolivia, con una cartera total de Bs. 2,356,822,084 y 132,839 clientes con préstamo...

  (2010-08-20) Link >>

• Mundo Microfinanzas

  Bolivia: Destacan transparencia y código de ética de Banco FIE

  MFTransparency y sus socios estratégicos, las redes microfinancieras locales Asofin y Finrural, lanzaron la Iniciativa de Transparencia de Precios en Bolivia con dos talleres en La Paz y Santa Cruz de la Sierra en mayo del presente año, la cual está patrocinada por la Fundación Ford y MicroNed con el objetivo de promover precios justos y transparentes en la industria de microfinanzas.

  (2010-08-19) Link >>

• The SEEP Network

  2010 SEEP Annual Conference: Reflecting on 25 Years of Milestones in Microenterprise Development

  The SEEP Network announced today details about the upcoming Annual Conference to be held November 1-5, 2010 in Arlington, VA. (2010-08-16) Link >>

• MicroCapital

  Transparent Pricing Initiative in Colombia: Launch on September 1-2, 2010, in Bogota and Medellin

  Training will be provided on pricing transparency as it relates to microfinance institutions (MFIs), regulators, funders and other support organizations. The event is being held as part of an effort by MFTransparency to collect and publish pricing data for microfinance products offered in Colombia. (2010-08-16) Link >>

• MicroCapital

  MFTransparency Transparent Pricing Initiative in India With Participation of 82 MFIs To Date

  MFTransparency, a U.S.-based non-governmental organization which promotes accurate and transparent pricing in the microfinance industry, recently expanded its transparent pricing initiative to 82 microfinance institutions (MFIs) in India. (2010-08-10) Link >>

• Microfinance Monitor

  MFIN joins hands with MFTransparency

  MFIN and MFTransparency, a global NGO, will together promote transparency in interest rates charged from clients and the task forces will work to ensure responsible lending. (2010-08-09) Link >>

• The Hindu

  Task forces to monitor microfinance institutions

  MFIN has signed up with MFTransparency, a global NGO, to promote transparency in the communication of interest rates to clients. (2010-08-07) Link >>

• Smart Campaign

  Responsible Pricing: The State of the Practice

  This newly published paper, co-authored by MicroFinance Transparency, examines the full range of approaches to responsible pricing of loans, from promoting competition, to return on equity limitations, to interest rate caps, to comparative transparency. (2010-08-04) Link >>

• Microfinance Focus

  35 Indian microfinance institutions shared complete pricing data to date: MFTransparency

  35 microfinance institutions in India have participated so far in the Transparent Pricing Initiative by MFTransparency in India by submitting complete microloan product information and pricing data. (2010-07-29) Link >>

• MicroCapital

  MFTransparency Transparent Pricing Initiative in Malawi Launch, August 31, 2010 in Lilongwe, Malawi

  Training will be provided on pricing transparency as it relates to microfinance institutions, regulators, funders and other support organizations. (2010-07-23) Link >>

• Mundo Microfinanzas

  Ecuador: D-MIRO, en la delantera por la carrera de la transparencia.

  La gran carrera por la transparencia llegó al Ecuador. En el mes de abril del presente MFTransparency lanzó su Iniciativa de Transparencia de Precios en Ecuador. El proyecto se inició con una serie de talleres y reuniones que tomaron lugar en Quito, Ambato y Guayaquil. Estos eventos convirtieron a Ecuador en el tercer país de América Latina en participar en la Iniciativa desatando una feroz competencia. Desde el lanzamiento del proyecto las IMFs locales han trabajado ardua e intensivamente en recolectar su información y datos de precios utilizando la herramienta de recolección de data de MFTransparency, con la esperanza de convertirse en la primera institución en obtener el Sello de Transparencia. ¿Quién ganó la carrera? Continúe leyendo…
  (2010-07-15) Link >>

• Portal de Microfinanzas

  La Carrera por la Transparencia en Ecuador

  La gran carrera por la transparencia llegó al Ecuador. En el mes de Abril del presente MFTransparency lanzó su Iniciativa de Transparencia de Precios en Ecuador. El proyecto se inició con una serie de talleres y reuniones que tomaron lugar en Quito, Ambato y Guayaquil. Estos eventos convirtieron a Ecuador en el tercer país de América  Latina en participar en la Iniciativa de Transparencia de Precios desatando una feroz competencia. Desde el lanzamiento del proyecto las IMFs locales han trabajado ardua e intensivamente en recolectar su información y datos de precios utilizando la herramienta de recolección de data de MFTransparency, con la esperanza de convertirse en la primera institución en obtener el Sello de Transparencia. ¿Quién ganó la carrera? Continúe leyendo… (2010-07-14) Link >>

• European Microfinance Platform

  MFTransparency Featured in e-MFP Newsletter

  Chuck Waterfield looks back on MFTransparency’s activities and the progress made since spring 2009, when e-MFP invited him to write an article about the start of this important initiative. (2010-07-06) Link >>

• MicroCapital

  MICROCAPITAL BRIEF: MFTransparency Brings Launch of Transparent Pricing Initiative to Bolivia

  MFTransparency recently expanded its work to launch its transparent pricing initiative in both Ecuador and Bolivia.  The initiative is being funded by the Ford Foundation.

  The Bolivia initiative, also sponsored by the Dutch microfinance network MicroNed, was launched with workshops in both La Paz and Santa Cruz de la Sierra, and the Ecuador initiative was launced with workshops in Quito, Ambato and Guayaquil.

  (2010-06-16) Link >>

• Portal de Microfinanzas

  Entrevista con ASOFIN y FINRURAL: Iniciativa de Transparencia de Precios en Bolivia

  LANCASTER, PA, EEUU & LA PAZ, BOLIVIA, 9 de Junio, 2010 — MFTransparency lanzó recientemente la Iniciativa de Transparencia de Precios en Bolivia.

  MFTransparency conversó con Fernando Prado, Secretario Ejecutivo de ASOFIN y Néstor Castro, Gerente de FINRURAL sobre los beneficios de la Iniciativa en Bolivia, los desafíos que enfrentará MFTransparency en el mercado local y las estratégicas para tener éxito en este esfuerzo.

  (2010-06-10) Link >>

• International Network of Alternative Financial Institutions

  INAFI Executive Director Attends CONVERGENCES 2015 Forum and Microfinance Transparency Meeting

  Ms Ndiaye Ba, Executive Director of INAFI, attended a meeting to discuss partnerships with MicroFinance Transparency, a new United States non-profit organization which aims to publish the interest rates and other basic information about the lending practices of microfinance institutions (MFIs) worldwide. (2010-06-09) Link >>

• Microfinance Focus

  MFTransparency-The MasterCard Foundation partnership for Fair and Transparent Microfinance

  MFTransparency a global initiative for fair and transparent pricing in the microfinance industry has entered into a partnership with The MasterCard Foundation to promote fair and transparent pricing in the microfinance industry in eight countries in Sub-Saharan Africa. (2010-06-09) Link >>

• Portal de Microfinanzas

  MFTransparency y la Red Financiera Rural estrenan la Iniciativa de Transparencia de Precios en Ecuad

  LANCASTER, PA, EEUU & QUITO, ECUADOR, 31 de Mayo, 2010 —  MFTransparency impulsó la Iniciativa de Transparencia de Precios en Ecuador en colaboración con su socio estratégico local, la Red Financiera Rural.

  (2010-06-03) Link >>

• Microfinance Focus

  MFTransparency launched Transparent Pricing Initiative in Bolivia

  Microfinance Focus, June 1, 2010: Hosting two workshops in La Paz and Santa Cruz de la Sierra during the first week of May, MFTransparency launched its Transparent Pricing Initiative in Bolivia. Local microfinance networks ASOFIN and FINRURAL are its strategic partners in this effort and the initiative is sponsored by the Ford Foundation and MicroNed to promote fair and transparent pricing in the microfinance industry. (2010-06-01) Link >>

• Governance Now

  Microfinance industry is shifting its agenda to social performance

  Microfinance in India still has considerable geographical divide. The southern states have done well in terms of taking microfinance initiatives as well as in uptake. On the other hand, it’s still taking time for microfinance to pick up in northern states. (2010-05-30) Link >>

• Portal de Microfinanzas

  MFTransparency Impulsa la Transparencia de Precios en Bolivia

  MFTransparency ha lanzado su Iniciativa de Transparencia de Precios en Bolivia con 2 seminarios en La Paz y Santa Cruz de la Sierra durante la primera semana de Mayo del presente. Socios estratégicos de MFTransparency en este esfuerzo son las dos redes microfinancieras locales ASOFIN y FINRURAL. La Iniciativa de Transparencia de Precios en Bolivia está patrocinada por la Fundación Ford y MicroNed con el fin de promover precios justos y transparente en la industria de microfinanzas. (2010-05-27) Link >>

• Microfinance Insights

  MFTransparancy announced the disclosure of the pricing data from Azerbaijan

  Following the dissemination of two pilot countries – Bosnia and Herzegovina and Cambodia – MFTransparancy announced the disclosure of the pricing data from Azerbaijan. The data presents a number of interesting trends in pricing practices, product types as well as differentiating factors that underlie the variations in pricing.

  (2010-05-27) Link >>

• Microfinance Focus

  MFTransparency to host Webinar on ‘New Microfinance Transparent Pricing Data from Azerbaijan’

  Microfinance Focus, May 26, 2010: MFTransparency, a global initiative for fair and transparent pricing in the microfinance industry is hosting a webinar on Tuesday, June 1, 2010 from 7:00 AM -8:30 AM EST, launching the true-cost microfinance pricing data from Azerbaijan. The discussion will interpret the data and its effect on market conditions as well as answer questions from a range of stakeholders and the public. The discussions will explore pricing practices, variations across MFIs, product types and sizes as well as underlying price differentiating factors such as geography and regulation. As with all countries, MFTransparency presents the prices in Azerbaijan using a Price Curve, which will play a prominent role in explaining price conditions during the webinar. (2010-05-26) Link >>

• MicroCapital

  In Ecuador, Cap on Interest Rates Pressures Microlenders to Increase Loan Sizes (...)

  Ecuador’s central bank, Banco Central del Ecuador (BCE), recently further reduced the cap on annual interest rates to 30.5 percent from 33.9 percent for retail microlenders, and to 27.5 percent from 33.3 percent for all others lenders. Since 2007, when the national government enacted banking reforms allowing the central bank to set a maximum interest rate for all banking institutions, the cap for microlenders has been dropping. According to Javier Vaca, the executive director of Red Financiera Rural (RFR), an Ecuadorian network of organizations that is focused on facilitating and promoting access to financial services, this forces microlenders to increase the average amount of their loans. Some are left with no choice but to sell their portfolios to larger institutions with lower fixed costs. Mr. Vaca claims that four unnamed microbanks have increased their average lending amount to USD 2,500 from USD 1,500. Meanwhile, smaller lenders have increased their average loan size to USD 600 from an average of USD 200. There is an increasing risk that people needing small loan amounts will no longer be served.

  (2010-05-14) Link >>

• MicroCredit Enterprises

  Obama Calls Out Microfinance: Taking the Measure of Microfinance

  As the need for Microfinance Transparency (backed by many microfinance leaders) demonstrates, the microfinance industry has been less than honest with the donors and investors who back it, not to mention its impoverished client-borrowers. True APR loan interest rates charged by overseas microfinance institutions remain undisclosed in most parts of the world. (2010-04-26) Link >>

• Daily Nation

  Lender to women joins global policing group

  The short rains which stated in earnest in December and the current long rain season has been a nightmare for many dairy farmers in the country. (2010-04-21) Link >>

• Microfinance Insights

  Exclusive Interview with MFTransparency executives Chuck Waterfield and Alexandra Fiorillo

  MicroFinance Transparency Urges Indian MFIs to Share Pricing, Interest Rate Data. Microfinance Transparency is currently on a whistle-stop tour of India to speak with MFIs and industry stakeholders, as part of their worldwide Transparent Pricing Initiative, which urges MFIs to share their pricing and interest data to improve transparency and bring credibility to the sector. Microfinance Insights caught up with MFTransparency executives Chuck Waterfield and Alexandra Fiorillo, to speak with them about their experience in India so far. (2010-04-16) Link >>

• New York Times

  Many Borrowers of Microloans Now Find the Price is Too High

  Drawn by the prospect of hefty profits from even the smallest of loans, a raft of banks and financial institutions now dominate the field, with some charging interest rates of 100 percent or more.

  “We created microcredit to fight the loan sharks; we didn’t create microcredit to encourage new loan sharks,” Mr. Yunus recently said at a gathering of financial officials at the United Nations. “Microcredit should be seen as an opportunity to help people get out of poverty in a business way, but not as an opportunity to make money out of poor people.”

  “You can make money from the poorest people in the world — is that a bad thing, or is that just a business?” asked Mr. Waterfield of MFTransparency. “At what point do we say we have gone too far?”

  (2010-04-13) Link >>

• Microfinance Focus

  MFTransparency launches Transparent Pricing Initiative for Microfinance in India

  Microfinance Focus, April 12, 2010: Identifying Transparent Pricing as the emerging challenge for the microfinance industry world over, MFTransparency.org, a US based non-profit has launched its Transparent Pricing Initiative in India with 5 seminars across the country, in New Delhi, Hyderabad, Kolkata, Bangalore and Chennai during April 12-19, 2010. (2010-04-12) Link >>

• Microfinance Insights

  MFInsights: A Conversation with Chuck Waterfield, CEO and President, MFTransparency

  As the microfinance sector picks up pace in improving industry practices, MFTransparency, a US-based nonprofit is working with microfinance institutions (MFIs) around the world to shed light on what has remained a dark and opaque corner of the microfinance business – the interest rates MFIs charge their clients. (2010-04-01) Link >>

• Microfinance Focus

  Indian NBFCs Microfinance Network MFIN to assess their transparency level, sources

  Microfinance Focus, Feb 25, 2010: Microfinance Institutions Network (MFIN), a newly formed body of NBFC-MFIs in India has decided to carry out an in-depth study of the status and level of transparency in its network members and suggest measures to improve the situation, if required, said sources in the industry. MFIN is planning to conduct the study in association with Microfinance Transparency (MFTransparency), a global initiative by Chuck Waterfield. (2010-02-22) Link >>

• European Microfinance Platform

  European Microfinance Week 2009: MFTransparency Client Protection Panel Video

  MFTransparency's client protection panel is featured as one of the most well-attended sessions at the 2009 European Week of Microfinance. The video of the panel is available on the European Microfinance Platform homepage. (2010-02-10) Link >>

• Enterprise Development and Microfinance

  MFTransparency Wins Award from “Enterprise Development and Microfinance”

  The winning entry in the 2oth anniversary edition of “Enterprise Development and Microfinance” was written by MFTransparency staff. (2010-01-09) Link >>

• A.J. Renold

  A.J. Renold of Opportunity International Blogs on MFTransparency

  Microfinance is a young and growing industry. Formal microfinance services such as savings, credit and insurance, have yet to reach a majority of the working poor around the world and thus there are many microfinance providers trying tap into this demand. (2009-12-28) Link >>

• Microfinance Focus

  MicroFinance Transparency Makes Top 10 Most Read New Initiatives in 2009

  Microfinance Focus, Dec. 26, 2009: The Microfinance Sector has witnessed several important new initiatives this year. Water, education and mobile banking were the favorite new segments. Our team has brought together the top 10 most read new initiatives. We will follow all the new initiatives, its successes, challenges and lessons learnt in the next year… (2009-12-27) Link >>

• Institute of Microfinance

  Bangladesh Seminar on `Microfinance Interest Rates and Transparency’

  The Institute of Microfinance (InM) and the Microcredit Regulatory Authority (MRA) jointly organized a two-day seminar titled ‘Microfinance Interest Rates and Transparency’ in Dhaka, Bangladesh on August 11 & 12, 2009. MFTransparency CEO & Founder Chuck Waterfield was a featured speaker at the event. (2009-12-09) Link >>

• Microfinance Focus

  Oikocredit partner first to offer microfinance pricing transparency data in Africa

  Microfinance Focus, Dec. 4, 2009: Oikocredit project partner PAWDEP is leading the way in microfinance pricing transparency in Africa. The Kenya-based Pamoja Women’s Development Programme became the first African microfinance institution to submit data to MFTransparency Transparent Pricing Initiative. (2009-12-04) Link >>

• Social Performance Indicators Blog

  The Quest for Transparent Pricing: MFTransparency Releases World’s First True-Cost Pricing Data

  Last week, MFTransparency – a global initiative for fair and transparent pricing in microfinance – published the world’s first true-cost pricing data. In an interview with MIX, Vice President Alexandra Fiorillo shares more about the initiative, its benefits to MFIs and clients, and findings from the first reports. (2009-11-11) Link >>

• Oikocredit

  Oikocredit supporting transparency in microfinance

  Oikocredit has renewed its support of transparency in the microfinance industry, sponsoring MFTransparency for the second year running. (2009-10-17) Link >>

• Microfinance Focus

  MicroFinance Transparency to drive transparent pricing in Africa

  MicroFinance Transparency (MFTransparency) will host a training workshop in Nairobi on oct. 19 in association with the 2009 AMT Microfinance Investor’s Fair to train industry professionals on pricing transparency and consumer protection. It will also mark the launch of MFTransparency’ s Transparent Pricing Initiative in Kenya. (2009-10-14) Link >>

• Gestión

  ONG y cooperativas darán a conocer costo de sus créditos

  MFTransparency has been featured in Peru's leading daily business newspaper, Gestión (http://gestion.pe/), for providing a portal of pricing information on microfinance institutions in the country. Featuring quotes from Founder Chuck Waterfield, this article highlights MFTransparency's contribution to consumer protection efforts and its upcoming data launch. (2009-10-13) Link >>

• MicroCapital.org

  Do Interest Rates Matter? Credit Demand in the Dhaka Slums

  This study attempts to show how sensitive borrowers are to rises in interest rates. The primary result of the study is that borrowers at SafeSave decreased loan demand significantly as a result of the increase in the interest rate. A one percent increase in the interest rate resulted in a range of .73 percent to .88 percent decrease in loan demand over the 12 month period. Additionally, less wealthy borrowers appear to decrease their loan demand more than wealthier borrowers due to the increase in interest rates. (2009-10-08) Link >>

• Microfinance Focus

  Azerbaizan takes lead to showcase transparency in microfinance

  Microfinance Focus, Oct. 1, 2009: With the negative media coverage in recent months, there is a collective need for transparency in microfinance sector. While some reports pointed out the high interest rates and the use of confusing product pricing, others have gone a step ahead to depict the microfinance institutions (MFIs) as no less than moneylenders. (2009-10-01) Link >>

• CGAP

  More transparency, please!

  MFTransparency has been featured on the CGAP Microfinance Blog as a leader in the global initiative for transparent pricing in microfinance. Author Christoph Kneiding highlights MFTransparency as the microfinance industry's answer to the lack of provisions for transparent pricing that are common among Western economies. Kneiding employs MFTransparency's approach of comparing loan size to APR for individual products, stating that through this method "what we already knew on an industry level can now be confirmed for the institution level: as loan sizes increase, interest rates are dropping." (2009-10-01) Link >>

• ACLEDA

  ACLEDA Recognized for Cambodia Transparent Pricing Initiative from MFTransparency

  On August 07, 2009, ACLEDA Bank received a certificate of recognition from MFTransparency, for being a global pioneer in the microfinance industry by participating in the Cambodia Transparent Pricing Initiative. (2009-09-01) Link >>

• The Financial Express

  MFIs in Bangladesh should be transparent in fixing lending rates

  MFTransparency led a 2-day seminar in Bangladesh on pricing transparency. During the inaugural sesssion, the Finance Minster of Bangladesh stated "Micro finance institutions (MFIs) should maintain transparency in determining their interest rates and there should be a guideline in this respect." For more information, refer to the story from the Financial Express. (2009-08-14) Link >>

• Think Change India

  Microfinance Transparency charged to clear the air

  This is great news and I commend the industry for recognizing its own responsibility to its clients and investors by providing such transparency.... Lets hope this is one part of a larger trend to further legitimize what is fast becoming an excellent toolkit for poverty reduction. (2009-07-10) Link >>

• e-MFP

  Implementing Pricing Transparency in Microfinance

  Microfinance has long been a highly transparent industry, and rightly proud of it. We share a wide variety of financial indicators about our MFIs. Unfortunately, the true price of microfinance loan products has never been accurately measured nor reported. For an industry born to “displace the moneylenders” by providing low-cost credit to the working poor, this is hard to imagine and even harder to explain. In addition, non-transparent pricing is a serious market imperfection that impedes efficiency, sound management decisions, and healthy consumer choice. Original Story: e-MFP Newsletter, page 3 (2009-04-20) Link >>

• Micro Capital

  MICROCAPITAL PAPER WRAP-UP: The State of the Microcredit Summit Campaign Report 2009

  THE NEED FOR PRICING TRANSPARENCY IN MICROFINANCE Chuck Waterfield, founder of Microfinance Transparency, writes that the true price of microfinance loan products has never been accurately measured nor reported. Microfinance loans, contrary to commercial loans, can quote an interest rate of three percent a month which results in an APR between 36 percent and 96 percent, depending on how this rate is applied. The same principles of transparent pricing applied within the commercial finance industry have not been applied to the microfinance industry. There has been intensive dialogue on this issue, and initiatives have been created in order to address non-transparent pricing, including the “Campaign for Client Protection” which began in April 2008, and another is MicroFinance Transparency. (2009-02-03) Link >>

• Microcredit Summit Campaign

  State of the Campaign Report

  The 2009 State of the Campaign Report contains an article on Pricing Transparency written by MFTransparency. See p. 15 of the report. The link gives access to a website where the entire report can be dowloaded in English, Spanish, and French. (2009-01-28) Link >>

• Malawi Daily Times

  Global body appeals for microfinance openness

  A 2009 report issued by Microcredit Summit based in Washington, US, says there is need for pricing transparency for microfinance institutions. The report issued on Monday by Microcredit Summit Campaign Director Sam Daley-Harris indicates that although the microfinance sector has globally been transparent, true prices for the sector’s loans and products have never been accurately measured. (2009-01-28) Link >>

• Voice of America

  Small Loans Grow in a Big Way

  As the microfinance industry grows, there are efforts to prevent abuses. .... a new effort based in the United States called MicroFinance Transparency. The aim is to prevent abuses by letting borrowers compare pricing information from different lenders. Its creator, Chuck Waterfield, calls it "an industry-based truth-in-lending effort." Borrowers, he says, are often misled about the true price of a loan. "For twenty years we set the price to cover the cost. Now, some organizations are setting the price to whatever they can get away with," he says. The first step is to publish information collected from eight countries. Chuck Waterfield says information from Peru, Bosnia and Cambodia will appear in February at the Web site mftransparency.org. He says the others, including at least one country from Africa, will follow a few months later. (2008-12-22) Link >>

• Financial Times

  The battle for the soul of microfinance

  The trouble is transparency. Competition works best when customers know what they’re paying and what they’re paying for, which is why lenders in the US have been required for the past 40 years to disclose their interest rates in a standardised format. Few microfinance institutions do the same thing, and the results can be baffling. “You have a borrower comparing two institutions across the street from each other, and she can’t tell which has the cheaper product,” complains Chuck Waterfield, the founder of a non-profit called Microfinance Transparency. “You couldn’t. Nobody could.” (2008-12-06) Link >>

• India Development Blog

  Is Transparent Pricing in Microfinance Necessary

  Does it seem like the obvious response to this question should be a “Yes!”? An interesting point made by Sanjay Sinha (M-CRIL), at one of the Conference sessions, was how communication would play a key role in ensuring that increased transparency would not backfire on the MFIs. (2008-11-13) Link >>

• Oikocredit

  First MFTransparency’s endorsement in the Netherlands

  On 4 October Oikocredit endorsed, as first Dutch-based organization, MicroFinance Transparency and announced a donation of € 20,000 in this initiative. MFTransparency’s mission is to be the venue for the microfinance industry to publicly demonstrate its commitment to pricing transparency, integrity and poverty alleviation. (2008-10-16) Link >>

• Grameen Foundation

  GF Joins Call to Safeguard Microfinance Clients

  Grameen Foundation joined 46 other organizations to support the launch of Microfinance Transparency at the Asia-Pacific Microcredit Summit, held in Bali, Indonesia, July 27-29. In a speech that became a keystone of the conference, Grameen Foundation board member Muhammad Yunus called for greater transparency by microfinance institutions, challenging lenders to publicly report interest rates and to set them no higher than that which will cover costs. (2008-09-01) Link >>

• Gulf Weekly

  Potential at bottom of pyramid

  In an effort to head off a potential crisis in the fast-expanding micro-finance industry, its leaders are adopting global truth-in-lending standards and creating a system for comparing loan terms offered by competing lenders. To manage the effort, a new self-monitoring organisation, MicroFinance Transparency, is being set up as the industry's policeman. The goal is to prevent companies from taking advantage of poor people with high interest rates and misleading credit offers. The initiative was announced at a micro-credit conference in Bali by Chuck Waterfield, a professor at Columbia University who spearheaded the initiative and Yunus, who launched the micro-credit revolution in Bangladesh 30 years ago with his Grameen Bank. (2008-08-27) Link >>

• Unitus

  Balancing Growth and Mission at the Microcredit Campaign Summit

  An important area of interest for Unitus is increased financial transparency for MFIs and the clients they serve. During the opening plenary, Dr. Yunus and Chuck Waterfield of Microfin announced the launch of MFTransparency, an initiative that aims to bring truth-in-lending standards to microfinance by publishing standardized annual interest rates on its website. Unitus and nearly 45 other microfinance-related organizations endorsed the initiative as a critical next step in ensuring ethical lending practices. (2008-08-14) Link >>

• Hope International

  HOPE International endorses Microfinance Transparency

  Lancaster, PA (August 4, 2008) HOPE International has announced its endorsement of MFTransparency.org, a new nonprofit organization created to encourage transparency, integrity, and poverty alleviation within the microfinance sector. HOPE was the first microfinance network to register its support for this new initiative that will prevent abuse of the microfinance sector and exploitation of the poor. (2008-08-04) Link >>

• Lancaster Newspapers

  Local man unveils microfinance dream

  Muhammad Yunus of Pakistan pioneered a microfinance system that has provided small loans to more than 100 million people living in poverty. Chuck Waterfield of Lancaster is an internationally known microfinance expert who is determined to foster Yunus' dream in growing nonprofit, humanitarian banking. (2008-08-01) Link >>

• MicroCapital

  Nobel Laureate Muhammad Yunus Speaks Out Against For-Profit Microfinance from Asia-Pacific Microcred

  (2008-08-01) Link >>

• Yahoo Singapore

  Setting Standards for Microfinance

  (2008-07-29) Link >>

• Vancouver Sun

  Micro-financiers track loan costs in developing world

  Annual interest of 25, 50 or maybe 100-plus per cent: What's fair? Where, exactly, should the line be drawn between loan-sharks and worthy micro-credit programs? Between enterprises that exploit poor people who can't get conventional loans and those that help them? There's no short answer. (2008-07-29) Link >>

• Payday Pundit

  Truth in lending for microfinancers?

  Stung by allegations of charging high interest rates, Microfinancers are considering a "truth-in-lending" type standard to apply across the industry. (2008-07-29) Link >>

• Reuters, India

  Microcredit lenders urged to improve transparency

  JAKARTA, July 28 (Reuters) - Lenders to the world's poor should disclose how much they charge their borrowers, a global network of microcredit agencies said on Monday, urging more transparency and greater protection of the poor. The proposal is backed by Nobel Peace Prize winner Muhammad Yunus, who set up Bangladesh's Grameen Bank and is regarded as the founder of the microcredit movement. (2008-07-28) Link >>

• TheStreet.com

  Microfinance Experts Criticize Mexican Bank

  During a conference call Monday from the Asia-Pacific Microcredit Summit, several advocates chastised those who charge "loan-shark" interest rates and criticized Compartamos' initial public offering last year. Microlending should be performed by banks and nonprofits that operate within the country, they say, and better oversight is needed to ensure competitive rates and ethical collection practices. (2008-07-28) Link >>

• BusinessWeek

  Setting Standards for Microfinance

  In an effort to head off a potential crisis in the fast-expanding microfinance industry, its leaders are adopting global truth-in-lending standards and creating a system for comparing loan terms offered by competing lenders. To manage the effort, a new self-monitoring organization, MicroFinance Transparency, is being set up as the industry's policeman. The goal is to prevent companies from taking advantage of poor people with high interest rates and misleading credit offers. The initiative was announced on July 28 at a microcredit conference in Bali by Chuck Waterfield, a professor at Columbia University who spearheaded the initiative, and Nobel Peace Prize winner Muhammad Yunus, who launched the microcredit revolution in Bangladesh 30 years ago with his Grameen Bank. (2008-07-28) Link >>

• CNBC

  Muhammad Yunus Joins Launch of Project to Help the World’s Poorest Borrowers Avoid High Interest Rat

  Nobel Peace Prize Laureate Muhammad Yunus joined in announcing the launch of MicroFinance Transparency, a non-governmental organization designed to make public the interest rates charged by microcredit lenders around the world, offering a much-needed form of consumer protection to the worlds poorest borrowers. (2008-07-28) Link >>

• Forbes

  Yunus' Bank Shot

  Muhammad Yunus, lender to the very poor and winner of the 2006 Nobel Peace Prize, thinks traditional bankers could learn from his business model. Consider: for all their fee income and credit analysis, they're the ones having the financial crisis. (2008-07-28) Link >>

• Smart Money

  Muhammad Yunus Joins Launch of Project to Help the World's Poorest Borrowers Avoid High Interest Rat

  NUSA DUA, Indonesia, July 28 /PRNewswire-USNewswire/ -- Nobel Peace Prize Laureate Muhammad Yunus joined in announcing the launch of MicroFinance Transparency, a non-governmental organization designed to make public the interest rates charged by microcredit lenders around the world, offering a much-needed form of consumer protection to the world's poorest borrowers. Professor Yunus joined in introducing the US-based, independent NGO here at the annual gathering of the Microcredit Summit Campaign, a Washington, DC-based network of more than 3,600 of the world's leading institutions providing tiny loans to 133 million poor clients, mostly in developing nations. Also attending the conference were Indonesian President Susilo Bambang Yudhoyono, Honduran President Manuel Zalaya Rosales, South African First Lady Mrs. Zanele Mbecki, and former Peruvian President Alejandro Toledo. (2008-07-28) Link >>

• Lancaster Newspapers

  He's aiding borrowers in developing nations

  In the United States, the cost of borrowing money is stated clearly and consistently, thanks to federal law. The Truth in Lending Act requires lenders to tell customers the annual percentage rate they would pay, so customers can easily shop for the best deal. But in developing countries, it's truly a different world. Customers, especially poor business people taking out tiny loans from microfinance lenders, often have a hard time learning the real rate they're paying. (2008-07-25) Link >>