The lack of good corporate governance is one of the main challenges facing the microfinance sector in Latin America and the Caribbean. Corporate governance is related to an institution’s internal operating and control procedures. It plays a key role in creating transparency and trust for investors and in attracting capital.
Good corporate governance contributes to efficient management and to considering stakeholder interests, boosting the microfinance institution’s reputation and integrity and fostering customer trust.
Just to respond to this need, the Foundation has developed a “Universal Code on Corporate Governance for Microfinance Institutions”, a reference document for the sector that provides the principles and standards that should contain any code of good governance of a microfinance institution, according to standards and internationally accepted best practices.
Likewise, for its adoption and practical application, the Foundation, in collaboration with the BIF / MIF has developed a “Guide to adopting good governance principles in microfinance institutions”, and is carrying out openly to the sector, “Corporate Governance Training Workshops” to members of boards of microfinance institutions. Until 2015, the Foundation has trained more than 350 professionals in this area.
Universal Code of corporate governance for microfinance institutionsDownload PDF
Guide to adopting good governance principles in microfinance institutionsDownload PDF
As well, to spread and promote its adoption, the BBVA Microfinance Foundation is carrying out openly to the sector, “Corporate Governance Training Workshops ” aimed at microfinance institutions board members.
See the brochure Corporate Governance Training Workshops
The Passport is a self-assessment tool that includes all the essential elements that may help any MFI to identify improvement areas for a better corporate governance. Analizing how may of these elements are present in your institution may help you better understand which areas require more attention.
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