MFR aims at benefiting the base of the pyramid in a sustainable manner. To do so, MFR provides independent and qualified services that improve the sustainability of the financial service providers, the focus on clients, and the protection of investors’ funds and goals. MFR clients are mainly financial service providers (mostly in: micro, SME, digital finance), investors and regulators, working to achieve the financial inclusion of the excluded and underserved.
Created in 2000 within the mother company MicroFinanza Srl, MFR was spun off as an independent company in 2006.
Headquartered in Italy, MFR operates through a network of regional offices (Ecuador, Kenya, Kyrgyz Republic), country offices (Bolivia, Peru), and antennas (Mexico, the Philippines) across 4 continents, boasting a vast geographical coverage (the largest among specialized rating agencies). Visit our regional pages to learn more.
Our vision is to contribute to a stronger and more transparent inclusive finance industry while being at the forefront of the most innovative trends with the ultimate goal to benefit the base of the pyramid.
Our mission is to provide the inclusive finance industry worldwide with independent ratings, certifications and high quality information services, aiming at enhancing transparency, facilitating investments and promoting professionalism and responsible practices.
As of December 2019, MFR has conducted more than 2,400 assignments in 106 countries worldwide.
MFR was the first specialized rating agency to be licensed by a Regulatory and Supervisory Authority to carry out mandatory ratings and it is the only one to have more than one license:
Over time, MFR has been accredited by:
Active partner of industry initiatives:
Ecuador local regulator
Credit Rating of regulated financial institutions (FIs)
Bolivia local regulator
Credit Rating, Social Rating and Issue Rating of regulated FIs specialized in microfinance
Philippines local regulator
Microfinance Institutions Rating Agency (MIRA)
MFR’s track record comprises partnerships with a variety of industry stakeholders, including private MIVs, DFIs and donors, holdings, specialized hedging facilities:
Read through MFR’s Code of Ethics.
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