The primary objective of the LuxFLAG Microfinance Label is to reassure investors that the Microfinance Investment Vehicle (MIV) actually invests, directly or indirectly, in the Microfinance sector.

Launched in July 2006, the LuxFLAG Microfinance Label helps to unlock capital from institutional and private investors, in order to support the financial inclusion sector.

Eligibility Criteria
PortfolioMinimum 50% in Microfinance
SFDRArticle 9
External validationMinimum 50% portfolio in either rated or regulated MFIs
Impact measurementMust measure and report social performance
Legal requirementsFund / Asset Manager must be regulated / supervised
Transparency / disclosuresMandatory 


Application Cycle
Application SessionQ1Q2Q3Q4
Application submission deadline31 Dec.31 Mar.30 Jun.30 Sept.
Sample selection / evidence collection25 Jan.*25 Apr.*25 Jul. *25 Oct. *
LuxFLAG Team review  and

Management review

Jan. – early Mar.Apr. – early Jun.Jul. -early Sept.Oct. – early Dec.
LuxFLAG Eligibility Committee reviewEarly / Mid Mar.Early / Mid Jun.Early / Mid Sept.Early / Mid Dec.
LuxFLAG Board reviewEnd Mar.End Jun.End Sept.End Dec.
Communication of decision29th Mar.29th Jun.29th Sept.21st Dec.

*The sample selection can only be conducted by 25th Jan./Apr./July/Oct. if the application package has been provided in due time. Otherwise the sample selection will be treated on a best effort basis.


If you have any questions regarding the label application, please send a mail here

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