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Conducting Social Audits with members: AMFA experience

Conducting Social Audits with members: AMFA experience. Sevda Huseynova June 5, 2012 SPTF Meeting, Jordan. Introduction of SPM & Social Audit in Azerbaijan. Project introduced : in January, 2008 Project Goal :

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Conducting Social Audits with members: AMFA experience

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  1. Conducting Social Audits with members: AMFA experience Sevda Huseynova June 5, 2012 SPTF Meeting, Jordan

  2. Introduction of SPM & Social Audit in Azerbaijan • Project introduced : • in January, 2008 • Project Goal: • To advance SPM in Azerbaijan Microfinance market and facilitate achieving greater transparency in achieving ‘double bottom line’. • Success Factors : • Strategic partnership with MFC : Joint fund raising initiative • High commitment of ICCO as social fund to support the networks

  3. Developing own capacity on SP

  4. SocialAudit –AMFA service • Use of MFC QAT tool • 3-5 days duration • Target Org-s: MFIs with social mission & committed to SP • Recommended once in 2 years (track the changes). • Price: depends on MFI size • 8 Social Audits done

  5. Social audits by AMFA

  6. Benefits of Social Audit for MFIs – improved social performance

  7. Benefits of Social Audit for MFIs – improved financial performance

  8. Benefits of Social Audit for MFIs – improved reputation

  9. Motivation & Benefits for the Networks • Excellent element of advocacy/lobbying strategy • Enables AMFA to achieve its mission “advancing interests of microfinance community and clients” • Area of expertise demanded by members & appreciated by funders • Opportunity to build reputation of “Industry Expert in SPM” in country and globally • Potential revenue generating stream: members willing to pay for this service if offered locally & professionally

  10. Motivation & Benefits for Networks -continued • Perfect multipurpose facility: • preventing MF shifting away from original social mission-revealing unique features of MF business model • “scanning” MFI’s performance and suggesting improvements without giving any grades • enabling the network to engage members to validate own social mission • Deepening relationships with member organizations

  11. Lessons Learnt Promotion of SPM among MFIs practitioners could be achieved more efficiently if SOCIAL AUDIT is conducted FIRST and followed by the training on SPM and not vice versa. WHY? • Easy to understand on practical example of own organization • Opportunity for joint assessment with network and better understanding of the QAT exercise in practice • Increased self-confidence of MFI’s team in using QAT independently

  12. THANK YOU! Sevda Huseynova Azerbaijan Micro-finance Association program@amfa.az

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