Over the last few years, as interest in and commitment to responsible inclusive finance (RIF) has grown, the number of RIF initiatives has grown with it. These initiatives create standards, resources and tools designed to help financial service providers (FSPs) address various aspects of responsible inclusive finance, such as client protection and transparency. The Social Performance Task Force has always worked to collaborate and include these initiatives in its work.
However, the variety of initiatives has created some confusion in the industry. Many FSPs have expressed confusion about which initiatives, resources and tools apply to them or where to even start to improve practice in responsible inclusive finance. To help clarify this confusion, SPTF formed the Responsible Inclusive Finance (RIF) Working Group in 2013. This group convenes the leaders from each of these initiatives to explore how best to advance responsible finance practices within the microfinance sector. It focuses on collaborating to streamline efforts where possible, avoid duplication of efforts and reduce confusion of the various resources and tools related to responsible inclusive finance.
The group has developed the PowerPoint below to help clarify each of its roles in the RIF industry: