Kashf Foundation Featured on MIX Market

Acumen Fund investee Kashf Foundation is the featured 5 Diamond profile of this month on the MIX Market, a global microfinance information platform on the web. The MIX Market rates Microfinance Institutions (MFIs) on their transparency in reporting, by scoring them on a scale of one to five “diamonds”, with 5 being the highest possible level of accuracy and clarity in financial and operational program reporting. The MIX is seen as a global leader in championing financial transparency, accountability and disclosure standards in microfinance.

Kashf Foundation is one of Pakistan’s fastest growing microfinance institutions, with a mission of financial inclusion and providing women in Pakistan with access to microfinance products and services. Acumen Fund has been investing in Kashf since 2002 and has seen the organization grow to over 300,000 clients, with plans to reach 1 million by 2010. We have been working with Kashf to expand beyond simple microfinance to second generation products like the Home Improvement Loan (HIL). Kashf is a professionally-run organization, with clear financial reporting systems and processes and we are delighted to see them highlighted on MIX Market for transparency. MIX has also rated Kashf as one of the top 25 MFIs in the world for 2007. Kashf President Roshaneh Zafar has also recently been nominated to the World Economic Forum’s Global Agenda Councils on Financial Empowerment and the Gender Gap.

Visit the Kashf Foundation page on the Acumen Fund website to read more about our investment, view stories and a presentation at our office by Kashf Foundation CEO Sadaffe Abid.