Client Protection Certification

MFR is granted a full approval to conduct Client Protection Certifications under the CERISE-SPTF framework, effective as of May 1st 2021.
As part of MFR’s mission of improving responsible
practices in the inclusive finance industry,
MFR actively took part in the development of the new Client Protection Certification Methodology
together with leading industry stakeholders and continues to support the scheme’s development.

Today MFR has the largest market share among Client Protection Certifiers and the widest global experience.



Client Protection Certification is an independent and third-party evaluation that provides an objective seal of confidence that a financial service provider is adequately implementing the client protection principles and is doing everything it should to treat clients fairly and to not harm them.



The Client Protection Certification is a highly valued mark of commitment by the industry, including many investors and donors, as “doing no harm” is the minimum that most stakeholders expect from the sector. Achieving the client protection certification allows financial services providers to:

  • Publicly demonstrate their commitment to client protection and responsible practices
  • Better understand clients’ risks
  • Improve their systems, practices and services by aligning to a set of standardized and globally accepted standards and keeping clients at the center of the decision-making process

MFR clients (Source: MFR customer care, December 2020) find the Client Protection Certification useful for:



All financial service providers engaged in financial inclusion, irrespective of their legal status and size, and interested in demonstrating their commitment to client protection.


How it works?

The certification reviews the financial service provider’s policies, procedures, management systems, training and marketing practices against the seven areas of client protection.


The new certification includes a process of recognizing financial institutions based on their performance and advancement towards implementing favourable client protection policies and practices. For this reason, the certification will provide with three levels of recognition (Bronze, Silver and Gold), depending on the percentage of compliance with the indicators.




The client protection certification has a 3-year validity.


In order to be ready for the certification and assess your compliance with the standards, you can apply first for the Client protection Pre-certification.


Certified Organizations

Institution Country Level of  Achievement Date of the Certification
Finamiga Colombia   Gold December 2021
BancoSol Bolivia   Gold December 2021
COAC Cámara de Comercio de Ambato Ecuador   Silver October 2021
COAC Lucha Campesina Ecuador   Silver October 2021
Fundenuse Nicaragua   Gold September 2021
Kushhali Microfinance
Pakistan   Gold August 2021
MásKapital Mexico   Gold August 2021
Institution Country Charter Type Date of the Certification
MAXIMA Cambodia NBFI *Checked in December 2021*
Finsocial Finsocial Colombia NBFI *Checked in December 2021*
February 2020
COAC Ambato Ecuador COAC *Checked in November 2021*
October 2019
Mibanco Mibanco Peru NBFI *Checked in November 2021*
December 2019
Banco Solidario Banco Solidario Ecuador Bank *Checked in September 2021*
October 2019
FINCA UCO CJSC Armenia NBFI *Checked in August 2021*
December 2018
U Microfinance Bank Limited Pakistan Bank *Checked in August 2021*
April 2019
Salym Finance Kyrgyzstan NBFI *Checked in June 2021*
April 2019
Tamweelcom Jordan NBFI *Checked in June 2021*
July 2019
Banque du Caire Egypt Bank May 2021
Kinara Capital India NBFI April 2021
FINCA Bank Kyrgyzstan Kyrgyzstan Bank April 2021
*Checked in October 2019*
July 2017
December 2014
Acceso Crediticio Peru NBFI April 2021
Cooprogreso Ecuador NBFI April 2021
*Checked in April 2019*
December 2016
COAC CREA Ecuador NBFI April 2021
Avanza Sólido Mexico NBFI April 2021
Banco ADEMI Dominican Republic Bank *Checked in March 2021*
November 2018
Banco VisionFund Ecuador Ecuador Bank March 2021
*Checked in April 2019*
December 2016
Early Dawn Early Dawn Myanmar NBFI March 2021
dvara kgfs Dvara KGFS India NBFI March 2021
Fundación Paraguaya Paraguay NGO February 2021
*Checked in December 2018*
March 2016
Microinvest Moldova NBFI *Checked in February 2021*
November 2018
Bayport Financial
Services Zambia
Zambia Payroll micro-lender January 2021
*Checked in October 2019*
December 2016
PGMF Myanmar NBFI *Checked in January 2021*
April 2018
MicroPlan Zimbabwe NBFI *Checked in January 2021*
July 2018
Pro Mujer Argentina NBFI *Checked in January 2021*
June 2018
Pro Mujer Nicaragua Nicaragua NBFI December 2020
*Checked in July 2018*
March 2016
RPMI Philippines NBFI *Checked in December 2020*
March 2018
INSOTEC Ecuador NBFI December 2020
The First Microfinance
Bank Ltd
Pakistan Bank *Checked in December 2020*
June 2018
Banco FIE Bolivia Bank *Checked in December 2020*
February 2018
FINCA Guatemala Guatemala NBFI November 2020
FINCA Kosovo Kosovo NBFI October 2020
*Checked in January 2019*
November 2016
Fundenuse Nicaragua NBFI *Checked in September 2020*
Pro Mujer IFD Bolivia NBFI *Checked in September 2020*
July 2017
NRSP Microfinance Bank Pakistan Bank *Checked in August 2020*
June 2018
Annapurna Finance Pvt. Ltd India NBFI August 2020
Maha Agriculture Microfinance Myanmar NBFI August 2020
KEP Trust Kosovo NBFI *Checked in July 2020*
August 2018
FINCA Pakistan Pakistan Bank *Checked in July 2020*
May 2017
AFK Microfinance Kosovo Kosovo NGO June 2020
*Checked in March 2018*
October 2015
ENDA Tamweel Tunisia NBFI June 2020
Banco Finca Ecuador Ecuador Bank *Checked in May 2020*
April 2018
Cooperativa Andalucía Ecuador COAC March 2020
Finca Jordan Jordan NBFI February 2020
Kashf Foundation Pakistan NBFI February 2020
SAFCO SAFCO Pakistan NBFI January 2020
Al Majmoua Lebanon NBFI December 2019
DBACD DBACD Egypt NGO December 2019
Muthoot Microfin India NBFI *Checked in December 2019*
May 2017
Bayport Financial Services Botswana Payroll micro-lender November 2019
*Checked in January 2018*
March 2015
Banco Pyme Ecofuturo S.A. Banco Pyme Ecofuturo S.A. Bolivia Bank November 2019
Imon International Tajikistan NBFI *Checked in November 2019*
May 2017
November 2014
Kushhali Microfinance
Pakistan Bank *Checked in October 2019*
July 2017
Kompanion Bank Kyrgyzstan Bank *Checked in October 2019*
April 2017
Asian Credit Fund Kazakhstan NBFI *Checked in October 2019*
August 2017
Attawfiq Morocco NBFI *Checked in September 2019*
February 2017
Komida Indonesia NBFI *Checked in August 2019*
May 2017
Bina Artha Ventura Indonesia NBFI *Checked in August 2019*
March 2017
Al Amana Microfinance Morocco NBFI *Checked in June 2019*
February 2017
Banco de Fomento Agropecuario El Salvador Bank May 2019
Musoni Microfinance Kenya NBFI April 2019
LOLC Myanmar NBFI April 2019
Satin Creditcare India NBFC *Checked in April 2019*
FINCA Bank Georgia Georgia Bank *Checked in March 2019*
April 2016
Annapurna Microfinance Pvt. Ltd. India NBFI *Checked in February 2019*
April 2016
OI Colombia Colombia NGO *Checked in January 2019*
September 2016
Credo Georgia Bank *Checked in December 2018*
December 2016
Opportunity Bank Serbia Serbia Bank November 2018
*Checked in March 2016*
March 2014
Banco Popular Honduras Bank *Checked in November 2018*
October 2016
Arnur Credit Kazakhstan NBFI *Checked in November 2018*
October 2016
CEVI Philippines NBFI November 2018
PRASAC Cambodia NBFI *Greyed out November 2018*
Agroinvest Serbia NBFI *Checked in June 2018*
February 2016
Crezcamos Colombia NBFI April 2018
*Checked in September 2015*
September 2013
XacBank Mongolia Bank *Checked in March 2018*
VisionFund Lanka Sri Lanka NBFI February 2018
Bayport Financial Services Botswana Payroll micro-lender *Checked in January 2018*
March 2015
MBK Indonesia NBFI *Checked in November 2017*
FINCA Nicaragua Nicaragua NBFI June 2017
FUBODE Bolivia NGO September 2016
BRAC Microfinance Bangladesh NGO August 2016
Enlace El Salvador Limited Company July 2016
MFC Mikra Bosnia & Herzegovina NBFI June 2016
FINCA Mexico
From 2017: Te Creemos
Mexico NBFI June 2016
*Greyed out*
EDPYME RAIZ Peru NBFI *Checked in June 2016*
August 2014
*Greyed out*
Tamwil El Fellah Morocco Limited Company May 2016
*Greyed out*
Bai Tushum Bank Kyrgyzstan Bank *Checked in May 2016*
May 2014
*Greyed out*
DemirBank Azerbaijan Bank November 2015
*Greyed out*
Mi-Bospo Bosnia&Herzegovina Bank October 2015
February 2013
*Greyed out*
Partner Microcredit Foundation Bosnia&Herzegovina Bank October 2015
January 2013
*Greyed out*
FINCA Azerbaijan Azerbaijan NBFI August 2015
*Greyed out*
Alalay Sa Kaunlaran, Inc. (ASKI) Philippines NGO July 2015
*Greyed out*
Viator Microcredit Azerbaijan NBFI April 2015
*Greyed out*
KazMicroFinance – KMF LLC Kazakhstan NBFI April 2015
*Greyed out*
AzerCredit LLC Azerbaijan NBFI October 2014
*Greyed out*
MDO Arvand LLC Tajikistan NBFI May 2014
*Greyed out*

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