MIX Standardizes on XBRL to Strengthen and Expand Its Lending to the Poor

Issue Date: 2008-01-24

Microfinance Information Exchange, Inc. (MIX) is a business information provider for the microfinance industry. MIX tracks the performance of more than 900 microfinance institutions.These microfinance institutions provide financial services and small loans—often less than $100—to poor people and businesses in emerging nations. MIX has decided to standardise on XBRL for its offerings.

MIX Microfinance Taxonomy acknowledged by XBRL International

Issue Date: 2009-11-24

The Microfinance Information Exchange (MIX), Inc. announced the official acknowledgement of its Microfinance Taxonomy by XBRL International. MIX recently implemented XBRL as their platform for performance, financial and operational data on microfinance institutions (MFIs). 'XBRL will allow us to more efficiently process the large amounts of data we receive from MFIs throughout the developing world. It will also encourage richer data on microfinance, increasing transparency without increasing the reporting burden on MFIs. With XBRL, MFIs reporting to MIX do not have to use new technology or change the way they report to us,' said Scott Gaul, manager of product development at MIX. 'MFIs can have numerous reporting requirements - to donor organizations, investors, regulators and more. More organizations are using XBRL, and now that we have a common taxonomy for microfinance, we hope to reduce the reporting burden for MFIs through use of appropriate technology standards.' The Microfinance Taxonomy is based on IFRSs, with additional concepts and relationships specific to microfinance.

MIX release microfinance taxonomy

Issue Date:2009-06-19

MIX (Microfinance Information Exchange Inc.) - the leading information provider for the microfinance industry and a developer of industry benchmarks and performance analysis of microfinance institutions (MFIs) - released the public working draft of the MIX Microfinance Taxonomy. The MIX Taxonomy is an extension of the IFRS Taxonomy 2009 in support of the 1,400 MFIs currently operating in over 100 countries, and was developed to increase financial transparency by improving data flow and exchange between MFIs, regulators, investors/donors, networks/associations and technology providers/borrowers.