Certification Certified Organizations Certified Profiles: Mi-Bospo

MiBospo profile banner 2

About Mi-Bospo:

In February 2013, Mi-Bospo was one of the first institutions to be certified in client protection shortly after the launch of the program in January 2013. Mi-Bospo strives to provide the best service of financial and nonfinancial products and services for women in business. Originally registered as a microcredit organization, it eventually went on to become the microcredit company under the legal framework of the Federation of Bosnia & Herzegovina that it is today. It offers a suite of products and services for its clients, including agricultural loans, business loans, multipurpose loans, and housing loans.

As a champion of entrepreneurial women, Mi-Bospo’s ‘Women’s Business Network’ helps provide networking and education to women in business to improve their living standards for themselves and their families. It aims for its members to obtain economic independence and societal status with the network supporting with nonfinancial services.





Mi-Bospo Fast Facts Eng



Mi-Bospo’s Certification Journey:

Mi-Bospo has worked closely with the Smart Campaign on improving its practices since the inception of the initiative. In addition to endorsing the Smart Campaign to state its support of client protection as a priority in microfinance, Mi-Bospo participated in an Accompanied Self-Assessment in 2008 to become better familiarized with how it was institutional implementing client protection into its operations, practices, and interactions. From this evaluation and the strong working relationship built  between the Smart Campaign and Mi-Bospo, its thorough prioritization and understanding of client care positioned it well to undergo a certification mission under the scrutiny of financial rating agency Microfinanza Rating.




Besides being one of the first institutions to be Smart certified in client protection, Mi-Bospo has also been recognized for other achievements in social performance and strong business practices, including:


Smart Note: Transparent and Responsible Pricing at Mi-Bospo

MiBospp pic 02The principles of transparency and responsible pricing (formerly Principle 2, now Principles 3 & 4) rests on the assumption that clients are capable of making smart financial decisions when they have access to and understand all the necessary information.

Transparent pricing goes beyond just stating an interest rate. Financial institutions are responsible for making sure that they communicate a product’s true total cost, along with its applicable terms and conditions, in a way that clients can understand, given educational and language considerations.

Responsible pricing means that the financial institution sets prices so that they are affordable for the consumer at the same time that they enable the financial institution to operate sustainably.

The Bosnian MFI Mi-Bospo focuses on client protection to safeguard both the institution and clients. For Mi-Bospo, transparency and responsible prices are key elements of ensuring client satisfaction. The MFI ensures transparency by screening potential hires, adhering to strict marketing guidelines, and taking time during the loan process to be sure that clients understand their rights and responsibilities.

Mi-Bospo offers responsible pricing by carefully analyzing their clients’ businesses to determine the interest rates they can afford to repay. Additionally, Mi-Bospo regularly compares their prices to those of similar competitors, to make sure they remain competitive in the local market.  Finally, Mi-Bospo carefully monitors operating expenses to keep them low, but has found that staff salaries must remain competitive to ensure staff loyalty and retention, both of which help Mi-Bospo better serve clients.

Click here to learn about the Mi-Bospo Smart Note »


For more information about Mi-Bospo please visit their website: mi-bospo.org

Follow Mi-Bospo:

Facebook-icon  Twitter-icon  Youtube-icon