Enda Tamweel maintains its commitment to financial governance and renews its MSI 20000 certification

PRESS RELEASE

Paris, November 2nd 2023 – 18h30

Enda Tamweel maintains its commitment to financial governance

and renews its MSI 20000 certification

COFICERT announces that it has granted Enda Tamweel, for the 2nd consecutive time, the certification to the MSI 20000 standard, international certification standard relating to good financial governance, established by MSI OBSERVATORY and governed internationally by the IGSF (International Group for Sustainable Finance). This performance demonstrates the consistency of their commitment to excellence in financial management.

As a reminder, Enda Tamweel, one of the leaders and pioneers of the microfinance sector in North Africa and the Arab world, engaged in 2020 in a rigorous process of evaluation to the MSI 20000 standard, an approach having led a few months later to the issuance of their certification, a significant achievement for the institution.

Three years later, under the leadership of Slaheddine Ladjimi and Zmandar Mohamed, Enda Tamweel entered a second certification cycle, once again attesting to its continued compliance with international financial quality standards. This very important recognition further consolidates their strong positioning in the field of microfinance in the Arab world and demonstrates their unwavering commitment to international efforts to propagate a culture of rigor, transparency and good financial governance.

This second certificate to the MSI 20000 Standard issued by COFICERT after a complete and demanding financial diagnosis, highlights the fact that the institution has succeeded, both, in maintaining a very efficient overall financial quality and a balance between the two main aspects of its financial governance, namely financial strength and performance.

The excellent results of the evaluation led by COFICERT from Paris, demonstrate a significant degree of resilience and a real desire of Enda Tamweel to promote and improve its practices with the objective of continuous improvement of its financial management. A very satisfactory and encouraging assessment from Enda Tamweel despite an unstable economic and financial context.

Souheil Skander and Cristian Mocanu, respectively representatives of CFC Partners and COFICERT France, officially presented the MSI 20000 certificate of conformity under the supervision of The IGSF - International Group for Sustainable Finance, in the presence of the General Management, Financial Management and Compliance Department of ENDA Tamweel.

 ABOUT

Pioneer and leader of microfinance in Tunisia, Enda Tamweel has gained expertise and know-how over 30 years which has allowed her to be at the forefront of financial and social inclusion and to become, through her various support systems, a central player in economic and social development. It makes a strong contribution to the economic and social development of the country through the active support it provides to micro-entrepreneurship and self-employment.

COFICERT is a French certification body, specialized in financial and non-financial certifications, operating in nearly 40 countries over 3 continents. COFICERT operates historically with, and alongside, international certification and standardization bodies. The organization brings together experts in governance, financial crime and sustainable finance. COFICERT certifies on the following topics : good financial governance (MSI 20000), social responsibility (ESG 1000), the fight against money laundering and the financing of terrorism (AML 30000) and the fight against corruption (ISO 37001).

MSI 20000 is the international standard dedicated to good financial governance of companies and institutions. Certification is an indicator relating to the quality of the financial situation of economic and financial entities, to be promoted among its stakeholders. Born in Europe in the aftermath of the subprime crisis, the MSI 20000 certification is issued by international certification bodies. The standard was established by the MSI Observatory and is governed internationally by the IGSF (International Group for Sustainable Finance).

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