Background

Financial transparency and information disclosure are key factors to maintain the healthy growth of the inclusive finance sector in Central America and the Caribbean. The periodic reporting of data on the different aspects of the operations of financial service providers (financial and social performance indicators) is particularly important in the inclusive finance sector. Information disclosure increases the opportunities for growth in promising sectors such as inclusive financial services, digital financial services, rural finances, environment, among others.

Recently, new trends have emerged in the inclusive finance markets and the ability to identify these opportunities, through updated and complete data, suggests that financial and human resources will be channeled to vulnerable segments were millions of families can benefit from access to financial and non-financial products and services.

Since 2005, REDCAMIF and MIX had been working together to complement the information systems of inclusive finances in the region; however, since 2016, MIX refocused its efforts towards digital finances, financial technology (fintech), and agrofinance, discontinuing its offer of data solutions in inclusive finances at global level.

In a process to improve and develop information systems, REDCAMIF developed a platform called MIFIndex, the Microfinance Portal of Central America and the Caribbean, which provides data services, analysis and research, promoting good practices in the inclusive finance sector. With MIFIndex, REDCAMIF provides continuity to the great progress achieved in the areas of transparency and information disclosure, making available to the public a space that includes a directory of Financial Service Providers and statistical, financial, and social information for the sector, thus benefitting all the parties interested in its development.

What is MIFIndex?

MIFIndex is a platform that includes the information system of the inclusive finance markets in Central America and the Caribbean. It is a unique and complete platform with a collection of historical information and frequent updates that improve the analysis, reporting, decision-making, and negotiation power of operators and stakeholders in inclusive finance.

MIFIndex represents an important step towards the expansion and dissemination of knowledge of inclusive finance markets in Central America and the Caribbean, thus significantly contributing to the strengthening of inclusive finance and increasing transparency levels.

Vision

To become the main provider of data, analyses, and research, and the main promotor of financial and social transparency in the inclusive finance markets in Central America and the Caribbean.

Objectives

1. To promote financial and social transparency in the inclusive finance markets in Central America and the Caribbean.
2. To strengthen the inclusive finance sector through the provision of data, analyses, and research for decision-making and negotiation for all stakeholders.
3. To provide a complete and consolidated platform with a collection of historical information and constant updates.

Technical Note

The purpose of this "Technical Note” is to specify and explain some aspects pertaining to the definitions, calculation and statistical methodologies used to produce the results presented in the MIFIndex Portal, both in a disaggregated manner and also aggregated by country and region.

This document will complement the contents in the Portal and provide support in the analysis of your data. It is worth highlighting that all the estimations of financial and social indicators are produced by REDCAMIF’s Information and Analysis Unit, based on data supplied by financial service providers in Central America and the Dominican Republic. This technical note provides details on each menu included in the MIFIndex Portal.

Acknowledgements

MIFIndex, the Microfinance Portal for Central America and the Caribbean, has been developed thanks to the cooperation of the Central American Bank for Economic Integration (CABEI), Appui Au Développement Autonome (ADA), and the Ministry of Foreign and European Affairs, Directorate for Development Cooperation and Humanitarian Affairs of the Grand Duchy of Luxembourg.