MIX

From XBRLWiki

Website:

• http://www.mixmarket.org/

MIX

The Microfinance Information Exchange, Inc. (MIX) is an information provider for the microfinance sector. Microfinance is the practice of providing financial services (credit, insurance and banking facilities) in very small amounts to poorer people, usually in developing countries. In particular, microfinance involves loaning small amounts to entrepreneurs who have no access to credit so they can establish, operate or expand a business.

The organization’s core focus is to provide objective data and analysis on microfinance providers in order to promote financial transparency in the industry and help to build the information infrastructure in developing countries. This addresses a key challenge for the microfinance industry: the lack of reliable, comparable and publicly available information on the financial strength and performance of microfinance institutions as well as their social impact.

MIX provides detailed financial and social performance information from over 1300 microfinance institutions (MFIs) in almost 100 countries, as well as business information from market facilitators and donor organizations and investors in microfinance. MIX does this through the online information exchange MIX Market (www.mixmarket.org) and through a variety of publications including the MicroBanking Bulletin and reports and analysis on regional and country level microfinance sectors (available at www.themix.org).

XBRL is a key component of this process as it provides a means to organize, store and exchange information on this sector. Since 2006, MIX has captured MFI data in XBRL through a closed reporting framework and private taxonomy. Beginning in 2009, MIX has shifted to using an extension taxonomy of IFRS and a more open reporting framework for data collection.

MIX is a non profit organization incorporated in June 2002, with headquarters in Washington, DC, and regional offices in Peru, Senegal, India and Indonesia.