The Responsible Inclusive Finance (RIF) Working Group is composed of leaders from main initiatives in responsible inclusive finance -- SPTF, Smart Campaign, MIX, CERISE, the SP Implementation Fund for Networks, Grameen Foundation, Good Return, the Microfinance CEO Working Group and the four specialized rating agencies. The group seeks to define a common vision of responsible inclusive finance, to deepen practice in responsible finance, to clarify each initiative’s role in the broader spectrum of responsible inclusive finance, and to identify ways the initiatives can collaborate to achieve greater impact. The working group is facilitated by Katie Hoffmann of SPTF.
Key Resources Produced
- The group has developed the PowerPoint below to help clarify each of its roles in the RIF industry, it was updated Nov. 2016:
- “Executive Summary: Integration of SPM into Nicaragua’s Microfinance Regulation” written by Tomas Rodriguez and Cara Forster.
- Version in Español is coming soon.
The RIF Working Group has met regularly since 2013, and it has continually integrated other industry actors into the group. To date, the group has focused on various activities to streamline efforts in responsible inclusive finance, including:
- Creating Industry mappings. The group created industry mappings of regulation, global networks, funders, client outcomes and technical assistance, which have helped identify duplicative efforts and gaps in existing RIF infrastructure.
- Coordinating on tools. RIF initiatives have continually coordinated on the development of tools. For example, several RIF initiatives were involved in the Expert Panel of the SPI4 and provided feedback on the tool during RIF calls. With that coordination, the tool now includes the Universal Standards, the Client Protection Principles, Truelift and PPI. Additionally, users will be able to generate reports directly from SPI4 to MIX, which will reducing the reporting burden on financial service providers (FSPs).
- Coordinating on standards. Many of our standards and tools have become very intertwined, which makes it easier for FSPs to comply with them. For example, the Client Protection Principles are entirely integrated into the Universal Standards for Social Performance Management, and both are included in the SPI4. This has made it increasingly important to make sure initiatives coordinate when they update standards. Initiatives have committed to eventually aligning timelines for updating standards, and are discussing a timeline for when that would happen.
- Coordinating on messaging. The RIF Working Group has aimed to reduce confusion among FSPs about the role of each of the initiatives and how FSPs can improve practice.
2015 July 22
2015 May 21
2015 March 24
2015 January 30
2014 September 18
2014 July 24
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2014 January 30
2013 November 26
2013 September 23
2013 July 17
2013 May 8
2013 April 3