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

Launched in July 2006, the LuxFLAG Microfinance Label makes it possible to release capital from institutional and private investors in order to support the financial inclusion sector.

Eligibility Criteria
Portfolio Minimum 50% in Microfinance
SFDR Article 9
External validation Minimum 50% portfolio in either rated or regulated MFIs
Impact measurement Must measure and report social performance
Legal requirements Fund/Asset Manager must be regulated/ supervised
Transparency / disclosures Mandatory
Application Cycle
Application Session Q1 Q2 Q3 Q4
Application submission deadline 31 Dec. 31 Mar. 30 Jun. 30 Sept.
Sample selection / evidence collection 25 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 review Early / Mid Mar. Early / Mid Jun. Early / Mid Sept. Early / Mid Dec.
LuxFLAG Board review End Mar. End Jun. End Sept. End Dec.
Communication of decision 29th 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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