Addendum to MNRC Memorandum Circular No. 2, Series of 2021 Published on 9 December 2021

December 10, 2021 MICROFINANCE NGO REGULATORY COUNCIL TO : Microfinance NGOs Accredited by the MNRC for the Period 2019 to 2022 SUBJECT : Addendum to MNRC Memorandum Circular No. 2, Series of 2021 Published on 9 December 2021 NOTICE In reference to Microfinance NGO Regulatory Council (MNRC or Council) Memorandum Circular ["M.C."] No. 2, Series of 2021 on the Guidelines for the Accreditation of Microfinance NGOs for the Period 2022 to 2025 , published on 09 December 2021, please see below (bold font) indicators included in Annex "A" (MNRC Performance Standards), which were inadvertently omitted in the publication, but form an integral part of the M.C.: I. Financial Performance Standards The Financial Performance Standards shall be used to assess the financial performance of MF-NGOs. These standards are comprised of the following indicators in the following areas: Portfolio Quality (30%) , Efficiency (20%) , Sustainability and Stability (35%) , and Outreach (15%) (PESO): Depth of outreach Total Loans Outstanding/ Total Number of Borrowers GNI per Capita 20% or below 5 20 >20-100 >100-150 >150-200 >200-300 >300 5 4 3 2 1 0 II. x x x III. Governance Standards 7.2 (a) Does the Board ensure the proper and efficient implementation and monitoring of compliance: (i) with the Code of Conduct and Ethics? Mandatory for All Minutes of the Meetings/Resolutions/ Certification from Compliance Officer (ii) with internal policies? Mandatory for All Minutes of the Meetings/Resolutions/ Certification from Compliance Officer SUB-TOTAL PROMOTING A COMPREHENSIVE AND COST-EFFICIENT ACCESS TO RELEVANT INFORMATION Principle 10: An MF-NGO should maintain a comprehensive and cost-efficient communication channel for disseminating relevant information. 10.1 For larger and smaller MF-NGOs, does the MF-NGO have a working and accessible website to ensure a comprehensive, cost-efficient, transparent and timely manner of disseminating relevant information to the public? Mandatory for All Company Website 10.2 Does the MF-NGO have a process that provides regular updates, advisories and all other relevant information to its members and all stakeholders? Mandatory for All Manual on Good Governance Company Website SUB-TOTAL IV. Overall Scorecard for MNRC Performance Standards Full Points (1) Raw Score Final Raw Score (2) * should not be greater than the full points Percentage Rating (3) = (2)/(1) Weight (4) Composite Score [(3)*(4)]*100 GOVERNANCE .30 LARGE MF- NGO 112 SMALL MF- NGO 112 FINANCIAL 100 .40 SOCIAL 30 .30 FINAL RATING For your information/guidance.