Manner of Financial and Operational Information Reporting Directive No. MFI/22/2012

የኢትዮጵያ ብሔራዊ ባንክ NATIONAL BANK OF ETHIOPIA

TELAGRAPHIC ADDRESS NATION BANK TELEX 21020 CODES USED PETERSON 3rd & 4th ED. BENTLEY'S 2nd PHRASE A. B. C. 6th EDITION.

PLEASE ADDRESS ANY REPLY TO P. O. Box 5550 ADDIS ABABA

LICENSING AND SUPERVISION OF

THE BUSINESS OF MICROFINANCE INSTITUIONS

Manner of Financial and Operational Information Reporting Directives No. MFI /22/2012

Whereas, obtaining complete and relevant data from Microfinance Institutions enables to identify inherent risks associated with each institution and the sector at large and undertake risk- based supervision on the basis of same;

Whereas, bringing the different directives related to records and reports in one set eases the reporting works of Microfinance Institutions;

Whereas, availing necessary data is important for calculation of financial and operational performance indicators and ratios by the Bank;

Now, therefore, pursuant to the authority vested in it by article 14 (2/e), 15 (2/a) and 27/2 of the Micro-financing Business proclamation No. 626/2009, the National Bank of Ethiopia hereby issues theses directives.

1. Short Title These Directives may be cited as "Manner of Financial and Operational Information Reporting Directive No. MFI /22/2012."

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2. Scope of Application The provision of these directives shall be applicable to all microfinance institutions licensed by the National Bank of Ethiopia.

3. Period and Manner of Reporting Financial and operational information and reports shall be submitted quarterly within four weeks from the end of the quarter to the National Bank of Ethiopia in the form and manner as shown in the tables attached herewith which shall be part hereof.

4. Repeal Financial Records and Information Directives No. MFI/08/96 is hereby repealed and replaced by these directives.

5. Effective Date These directives shall enter into force as of November 01, 2012.

TEKLEWOLD ATNAFU GOVERNOR

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Form: RF1A

Name of the Institution:____________________ General Information (Quarterly) Period Ending:____________________

I. HEAD OFFICE AND BRANCH NETWORK INFORMATION

1.1 Head Office Address
Region
City/Town
Woreda/Sub-City
Kebele
Mailing Address
Telephone
Fax
Website
E-mail

1.2	Branch Network
	Region	Number of Branches	Number of S. Branches
1	Addis Ababa
2	Amhara
3	Tigray
4	Oromia
5	SNNPRS
6	Dire Dawa
7	Harari
8	Somali
9	Benishangul Gumuz
10	Afar
11	Gambela
	Total

1.3: Operating Regions:__________________________________________________

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Form: RF1B

Name of Institution____________________ General Information (Quarterly) Period Ending____________________

I. Management Members, Auditors, Employee and Offices

1.1 Management Members¹
A Chief Executive Officer(CEO)
Telephone
Email
B Senior Executive Officers(SEO)
1 Finance Manager
Telephone
Email
2 Operations Manager
Telephone
Email
3 Risk Management Officer
Telephone
Email
7 Other Managerial Officers, if any

1.2 External Auditor
Name
Address
Telephone
Fax
E-mail
Website

1.3 Staffing and Offices

	Head Office	Regional/Coordinating Office (if applicable)	Branches	Sub-Branches	Other	Total
No. of Offices	XXX
No. of Employees (Total)
Loan officers
Internal auditors
All other staff

Management¹ is a position in the reporting MFI that is either directly responsible to the CEO/ board or is a position that has been defined as a management position as per the policy of the reporting MFI

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Form: RF1C

Name of the Institution:____________________ General Information (Quarterly) Period Ending:____________________

1. Qualification of Staff (Including Management)

Staff	Diploma	Degree	Masters	PhD	Others	Total
Permanent
Temporary
Total
Male
Female
Total

2. Turnover² 2.1 Management staff ( in the reporting period ) Management Staff Turnover

Name of Staff	Position of staff	Date of resignation	Reason of resignation	Year of service in the institution	Is the Position Yet Vacant ?

2.2 Staff

	No. of staff
Prior Period End	Hired in this Period	Left in this Period	Current Period End

Turnover²- includes permanent staff and periodically renewable contractual employees.

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Form: RF1D

Name of the Institution:____________________ General Information (Quarterly) Period Ending:____________________

1. BOARD OF DIRECTORS
	Designation	Name
I	Chair person of the BOD:
II	Board Secretary
III	Board Members:
1
2
3
4
5
6
7
8
IV	Sub Committee:
A	Chair person of the Risk Committee
	Member of the Risk Committee:
1
2
3
4
B	Chair person of Internal Control Committee
	Member of the Internal Control Committee:
1
2
3
4
C	Other committees
1
2
3

2. Composition of BODs

No.	Item	PHD Holder	MA Holder	BA Degree Holder	Diploma Holder	Total
2.1	BODs

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Form: RF1E

Name of the Institution:____________________ General Information (Quarterly) Period Ending:____________________

	Products and Services	Interest Rate Per Annum	Manner of Interst Computation
I.	Loan Products		Flat/ Declining
1
2
3
4
5
6
			Minimum or Maximum
II.	Saving Products		Banlance
1
2
3
4
III.	Micro-Insurance Products	Primeum rate
1
2
3
4
Iv.	Other Products
1
2
3
4

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Form: RF1F

Name of the Institution:____________________ General Information (Quarterly) Period Ending:____________________

I. Current/Active Donors or Partners Working with the MFI

	Name of the Donor/Organization/Project	Manner/Description of Partnership
1
2
3
4
5
6
7
8
9
10

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Form: RF2

Name of the Institution ____________________ INCOME STATEMENT⁴ (QUARTERLY) Period Ending ____________________ (In Birr)

Reference	Item	Amount
	Financial Revenue
I1	Interest income from loan portfolio
I2	Service charge & commission on loan portfolio
I3	Financial revenue from investment
I4	Other financial revenue
I5	Total Financial Income (I1 +I2+I3+I4)
	Financial Expense
I6	Interest & fee expense on compulsory savings
I7	interest & fee expense on voluntary savings (including time and demand deposits)
I8	Interest & fee expense on debt -commercial
I9	Interest & fee expense on debt- Concessionary
I10	Other Financial expenses
I11	Total Financial Expense (I6+I7+I8+I9+I10)
I12	Gross financial margin (I5-I11)
I13	Loan loss provision
I14	Interest loss Provision³
I15	Net financial margin [I12-(I13+I14)]
	Operating expense
I16	Personnel expense (Operational)
I17	Other expenses (Operational)
I18	Administrative expenses- Personnel
I19	Administrative expenses-Others
I20	Net Operating Income [I15-(I16+I17+I18+I19)]
I21	Non operating Revenue
I22	Non operating Expense
I23	Net Income before tax & grant[(I20+I21)-I22]
I24	Tax
I25	Net Income after tax (I23-I24)
I26	Cash grants
I27	Non-cash grants
I28	Net Income after tax & donation (I25+I26+I27)

³If it is applicable to the policy of the reporting MFI 4 Refers to profit and loss performance of the MFI since the beginning of the new/current fiscal year Name of officer _________ Designation _________ Signature _________ Date:_________

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Form: RF3

Name of Institution ____________________ BALANCE SHEET (Quarterly) Period Ending ____________________ (In Birr)

Ref.	Assets	Amount	Ref.	Liabilities & Capital	Amount
B1	Cash on hand		B19	Voluntary Savings
B2	Cash at banks / or MFIs		B20	Compulsory Savings
B3	Cash at NBE		B21	Time deposit
B4	Short term investment		B22	Demand deposits
B5	Gross outstanding loans		B23	Loan Financing Debt-Commercial
B6	Provision for loan loss (Reserve)		B24	Loan Financing Debt-Concessionary
B7	Net outstanding loans(B5-B6)		B25	Interest accrued on Commercial debt
B8	Interest receivable on loan portfolio		B26	Interest accrued on Concessionary debt
B9	Reserve for interest (on loan) /contra asset to interest receivable		B27	Interest payable on deposits
B10	Other receivables		B28	Deferred Grants
B11	Prepayments		B29	Other short term liabilities
B12	Long term investments in allied activities		B30	Other long term liabilities
B13	Long term investments in non allied activities		B31	Total liabilities
B14	Fixed Assets		B32	Paid up capital
B15	Accumulated depreciation & amortization		B33	Donated equity
B16	Net Fixed assets(B14-B15)		B34	- Granted equity: Prior period
B17	Other Assets		B35	-Granted equity: Current period
			B36	Retained Earnings: Prior period
			B37	Profit/ loss: Current period
			B38	Legal Reserves
			B39	Other capital account
			B40	Total Capital (B32+B33+B36+B37+B38+B39)
B18	Total Assets(B1+B2+B3+B4+B7+B8+B9+B10+B11+B12+B13+B16+B17)		B41	Total Liabilities & Capital (B31+B40)
	Unused credit facilities extended. to customers			Off Balance Sheet items
	Other items
	Total

Name of officer _________ Signature _________ Date _________

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Form: RF4

Name of Institution ____________________ Liquidity Report (Quarterly) Period Covered ____________________ (In Birr)

Item	Amount
1.Total Liquid Assets (1.1+1.2+1.3+1.4)
1.1 Cash
1.2 Deposit with Banks (including NBE) and/or MFIs
1.3 Treasury bills
1.4 Other (specify)
2.Total Deposit
3. Ratio of Total Liquid Assets to Total Deposits (%) (1/2)

Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RF 5

Name of Institution ____________________ Capital position Report (Quarterly) Period Covered ____________________ (In Birr)

Assets	Amount (a)	Weight (b)	Risk-weighted Amount (a) x (b)
Cash on hand		0%
Deposit with banks/MFIs
- With NBE		0%
- With other banks/MFIs		20%
Prepayments		0%
Receivables⁴		100%
Claims on Government
- Federal Government		0%
- Regional Government		20%
Loans and Advances less Provisions
- Fully secured by Cash, Federal Government Securities or guaranteed by Federal Government		0%
- Fully secured / guaranteed by Regional Government		20%
- All other loans and advances		100%
Investments		100%
Fixed Assets & Inventory (B.V)		100%
Total Risk-Weighted Assets
Total Capital
Ratio of Total Capital to Risk-Weighted Assets (%)

⁴ All receivables other than loan Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RF6

Name of Institution ____________________ Loan Portfolio and Saving Performance Report ( Quarterly) Quarter Ending ____________________

Description	Current Quarter	Previous Quarter
Total Number of clients
1.Number of Borrowers at prior quarter end
2.Number of New Borrowers in this quarter
3.Number of Dropout clients in this period
4.Active number of borrowers ( 1+ 2) -3
Portfolio Status
5. Number of Loans Disbursed in this period
6. Value of Loans Disbursed in this period ( In Birr)
7. No. of Outstanding Loans
8. Value of Outstanding Loans (In Birr)
9. Average Loan Size (8/7)
Deposits
10. No. of new voluntary savers in this period
11. No of new compulsory savers in this period
12. Aggregate no. of new savers (10+11)
13.Total number of savers (saving, time deposit and demand deposit)
14. Amount of Voluntary saving mobilized in this period (In Birr)
15. Amount of Compulsory saving mobilized in this period (In Birr)
16. Amount of Total Saving mobilized in this period (In Birr)(14+15)
17. Time Deposit mobilized in this period
18. Current Account deposit in the reporting period
19. Other deposit, if any, in the reporting period
20. Total deposit mobilized in this period (16+17+18+19)
21. Total deposit mobilized to date/Outstanding total deposit

Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RF7 Aging and Provisioning Report (Quarterly) Period Ending ____________________ (In Birr)

No.	Description (No of days past due)	No. of Loans in Arrears (a)	Outstanding Loan (b)	Acceptable Collateral⁶ (c)	Outstanding Balance Net of Collateral (b-c)=d	Provisioning Rate as per NBE Directive (e)	Required Provision (d x e)=f	Provision Rate of the MFI (g)	Actual Provision (h)	Excess reserve (h- f)
1	Performing Loans
2	Non-Performing Loans
2.1	Substandard (91-180 days past due)
2.2	Doubtful (181-365 days past due)
2.3	Loss (more than 365 days past due)
3	Total Non Performing Loans (2.1+2.2+2.3)
4	Total loans (1+2)
5	Non Performing Loans (NPLs) ratio (3/4)

Total amount of loans written off in this quarter ____________________ Aggregate value of loans written off to date ____________________ Total value of principal recovered in this period (on loans previously written off) ____________________ Aggregate value of loans recovered to date ____________________ ⁶ Refers to any cash deposit balance or Federal government securities held as collateral against the loan Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RF8

Name of the MFI ____________________ Borrowing Group's List (Quarterly) Period Ending ____________________

List of 10 Top Borrowing Groups*

No.	Group Name	Group No.	No. of Borrowers in the Group	Amount Disbursed	Total Outstanding	Value of Security	Name of Branch/Sub-branch	Number of Default borrowers
1
2
3
4
5
6
7
8
9
10
	Total

Note* Top borrowing groups are identified on the basis of the sum of loan outstanding balance of each group member at the time of the reporting period. Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RP9

Name of the MFI ____________________ Top Single Borrowers Report (Quarterly) Period Ending ____________________ (In Birr)

List of 10 Top Single (Individual) Borrowers*

No.	Borrower	I.D. No	Amount Disbursed	Amount Outstanding	Value of security	Status⁷
1
2
3
4
5
6
7
8
9
10
	Total

Note* Top single borrower is identified on the basis of the loan outstanding balance of the borrower at the time of reporting. ⁷ Indicates the current status of the borrower as per NBE's loan classification category i.e. current, substandard etc. Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RP10

Name of the MFI ____________________ Microinsurance Fund and Claims (Quarterly) Period Ending ____________________

Insurance Fund Available, Claims, Claims paid and Beneficieries

No.	Type of Insurance	Total premium Collected	Balance of Insurance Fund	Amount of Claim	Amount to Beneficieries	Claims Paid	Number of Claims Outstanding
1
2
3
4
5
6
7
8
9
10
	Total

Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RP11

Name of the MFI ____________________ Credit Concentration (Quarterly) Period Ending ____________________

1. Loan Distribution by Sector Loan Distribution by Sector (In Birr)

Sector	Loan Disbursed	Loan Outstanding	NPLs
	Current Period	Cummulative		91-180 Days	181-365 days	> 365 Days
Agriculture
Trade
Manufacturing
Construction
Service
Others
Total

2. Loan Classification by product

Product Type	Outstanding Loan	No. of client	NPLs
			91-180	181-365	>365	Total

3. Loan Distribution by Gender

	Loan Outstanding	No. of active client
Male
Female
Total

4. Loan Distribution for Persons with Disabilities

	Loan Outstanding	No. of active client
Male
Female
Total

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Form RP 12

Name of the MFI: ____________________ Core Depositors Report: Quarterly Return Period Ending: ____________________ (In Birr)

Top Twenty Depositors

No.	Name of Depositor	Amount of Deposit*	Type of Deposit
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
	Total

Note:* This balance depending on the deposit account(s) of the depositor includes saving, time and current account deposits. Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Form: RP13

Name of the MFI ____________________ Insider Borrowers Report (Quarterly) Period Ending ____________________ (In Birr)

List of Insider Borrowers ⁸

No.	Borrower	I.D. No	Relationship to the MFI i.e. Board Member, CEO, Management Member, Branch/Sub Branch Manager	Amount Disbursed	Amount Outstanding	Value of security	Status⁷
1
2
3
4
5
6
7
8
9
10
	Total

⁷ Indicates the current status of the borrower as per NBE's loan classification category i.e. current, substandard etc. ⁸ Borrowings which are given to staff as staff loan, consumption loan or emergency loan are not included under this category. Name of officer ____________________ Designation ____________________ Signature ____________________ Date ____________________

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Supplement 1: RF2 Income Statement details

Reference	Account Name	Definition
I1	Interest income from loan portfolio	Interest earned on the loan portfolio. If the MFI is earning interest on loans to employees or board members, this interest should be disclosed. If this interest is significant, the MFI shall have two sub accounts- one for interest from clients and the other for interest from these related parties.
I2	Service charge and commission on loan portfolio	Penalties, commissions and other fees earned on loan portfolio as per the policy of the MFI
I3	Financial revenue from investments	Income from interest, dividends, and other income generated by financial assets other than the loan portfolio such as, interest bearing deposits, deposit certificates and treasury bills
I4	Other Financial revenue	All other revenues earned from the provision of financial Services including membership fees, sale of passbooks, transaction fees, premiums and value of loans recovered
I5	Total Financial Income	The total value of all revenue earned from the provision of financial services. It is calculated as the sum total of I1 + I2 +I3 +I4
I6	Interest and fee expense on compulsory savings	Interest and fees expense incurred on compulsory savings deposited at the MFI
I7	Interest and fee expense on voluntary savings	Interest and fees expense incurred on voluntary savings deposited at the MFI

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Reference	Account Name	Definition
I8	Interest and fee expense on debt-commercial	Interest and fee expense incurred on commercial liabilities that are used to fund financial assets. Interest and fee expense incurred on commercial liabilities that are equal to or greater than 90% of the market rate: where for the purpose of this directive, interbank lending rate could be considered as the minimum market rate.
I9	Interest and fee expense on debt-Concessionary	Interest expense incurred on subsidized borrowings that are used to fund financial assets, where such sources of debt could be obtained at no or much lesser interest rates than the market rate. Interest paid on managed loan funds that are kept on behalf of other organizations are included in this category
I10	Other financial expense	All other expenses incurred in relation to providing financial Services comprising interest on non funding liabilities such as mortgages, and loans linked to fixed assets like vehicles. It also includes foreign exchange loss. Finally it comprises any expense used to reduce interest receivable on the loan portfolio if the interest is considered uncollectable and cost of loan recovery.
I11	Total financial expense	The total value of financial expenses incurred for operations. It is the sum total of I6 + I7 +I8 +I9 +I10
I12	Gross Financial margin	The net value of financial earnings from financial services. It is the difference of I5 and I11 (I5-I11)
I13	Loan loss Provision	It is a non cash expense calculated and maintained as a percentage of the value of the loan portfolio that is at risk of default
I14	Interest loss Provision	It is a non cash expense maintained as an allowance for the value of the interest receivable that is estimated to be uncollectable.

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I15	Net financial margin	The value of financial earnings from financial services, net of provisions maintained for loan and interest receivables (I12 - I13 - I14)
I16	Personnel expenses(Operational)	Salaries, benefits and taxes of field staff that involve directly in provision of financial services. The cost of employee recruitment and initial orientation of these offices is also under this account. But, it never includes personnel expenses of head office and other coordination offices like regional or area branches.
I17	Others expenses(Operational)	All operating expenses incurred by the operational units ( field offices, or branches) of the MFI excluding salaries and benefits. It includes depreciation and amortization, rent, utility, supplies, advertising, transportation, communication expenses, on going training of staff, etc of operational units.
I18	Administrative expenses- personnel	Salaries and benefits of head office and other coordination office staff that engage indirectly in the provision of financial services.
I19	Administrative expenses- Others	All operating expenses incurred by the head office and other coordination offices of the MFI except for salaries and benefits. It includes depreciation and amortization, rent, utility, supplies, advertising, transportation, communication, on going training of staff, consulting expenses, etc of head office and other coordinating offices.
I20	Net operating Income	The net earnings from the provision of financial services. It is calculated as I15 - I16- I17- I18- I19
I21	Non operating Revenue	All revenues not directly related to core microfinance operations such as revenue from business development services, training, gains on disposal of fixed assets, consulting Service, MIS Sales, rent income, and any other exceptional gains
I22	Non operating Expense	All expenses that are not directly related to financial services and MFI's business such as cost of providing business development service or training, an evaluation or impact study mandated by a donor, losses on disposal of fixed assets, losses incurred due to fraud and any other exceptional losses

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123	Net operating Income before tax and grant	All net earnings from the institution's operations before inclusion of taxes and grants (I20 + I21) - I22
124	Tax	Includes all taxes paid on Net income or other measure of profit as stipulated in Microfinance business proclamation No. 626/ 2009.
125	Net operating Income after tax	It is calculated as I23 - I24
126	Cash grants	Value of all grants earmarked for operation other than funding loan portfolio and recognized as revenue during the period. Such grants would include grants received in cash or are pledged in cash. Grants received in cash or pledged in cash but not recognized as revenue in the reporting period are deferred to the future as liabilities. Nature and amount of cash grants must be disclosed. Grants for operation shall include paying personnel and administrative expenses and also purchasing fixed assets
127	Non cash grants	In kind grants formally recognized by the MFI in its accounting records as revenue and thus reported in the income statement for the reporting period. Non cash grants received or pledged but not recognized as revenue in the current reporting period are deferred to future periods as liabilities. Non cash grants should be recorded at fair value at the time the non cash grant was received. The reporting MFI should disclose the type and extent of such grants as notes to the financial reports.
128	Net income after tax and donation	All net earnings from the operation of the institution, net of taxes and after inclusion of grant for operation (125+126+127)

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Supplement 2: RF2 Disclosure for Grants

1. Disclosure of Cash Grants Recognized in Current Period

Please indicate the type/ purpose of grants( unrestricted: for operations, for fixed assets or for loan fund) and the amount that the reporting MFI recognized as revenue in the current period and reported in the income statement (In Birr)

Purpose of Grant⁸	Financier	Cash grant recognized as revenue
Cash grants- Unrestricted
Cash grants-Restricted for covering operating expenses
Cash grants-Restricted for provision of loans
Cash grants-Restricted for acquision of fixed assets
Total cash grants reported in the income statement

⁸ includes grants received in cash or pledged in cash and recognized in the reporting period meeting the conditions of the contract as to the purpose and timing of the use of the grants. It shows the details of non cash grants specified in I25 of RF2.

2. Disclosure of Non- Cash Grants Not included in the Income Statement ⁹

Please fill in the cells below the fair values of all non cash grants applying to the current reporting period but not reported in the income statement

Type of Expense covered by Non Cash grant not recorded and reported in the Income statement	Fair value of non- cash grant
Program Expenses- Personnel
Program Expenses-Others
Administrative Expenses- Personnel
Administrative Expenses-Others
Total fair value of non- cash grants

⁹ In kind grants covering operating costs in the reporting period but not recognized in the formal accounting records and thus not reported in the income statement. Such non cash grants shall be disclosed at their fair value as indicated above in table 2

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Supplement 3: RF3 Balance Sheet details

Reference	Account Name	Definition
B1	Cash on hand	Balances of cash maintained at safe boxes of the institution
B2	Cash at banks / or MFIs	Refers to cash balances of deposit with banks and/ or MFIs
B3	Cash at NBE as a reserve	Balance of cash maintained at NBE as part of the reserve requirement
B4	Short term investment	Any financial asset acquired or incurred primarily for the purpose of selling or repurchasing in the near term i.e. convertible to cash within or at 12 months or having a longer term used for short-term profit taking or trading. It includes certificates of treasury bills, excess cash invested in time deposit, stocks, bonds, etc
B5	Gross outstanding loan	All outstanding principals of outstanding clients including current, delinquent and renegotiated loans. It never comprise interest receivable and loans that have been written off.
B6	Provision for loan loss	It is a contra asset account representing the cumulative value of impairment losses that have been expensed in anticipation of default losses.
B7	Net outstanding loans	Gross loan portfolio less loan loss provision. It is calculated as B5 - B6
B8	Interest receivable on loan portfolio	It is used to record the amount of interest accrued on loans at the end of each reporting period if the MFI's accounting system is accrual basis of accounting
B9	Reserve for Interest (on loan) loss	It is a contra asset account maintained as a provision for the uncollectible interest receivable on loan.

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B10	Other receivables	Consists of receivables from the Federal Government, regional government and other parties. It includes commission receivable, receivables from trade debtors and advances.
B11	Prepayments	Includes acquisition of a large amount of supplies inventory and advance cash payments to external parties for insurance, rent, etc. whose benefit would extend to periods beyond the current period
B12	Long-term investments in allied activities	Investment in allied activities that are listed in Directive No. MFI/06/96 and have a fixed maturity or payments in which the MFI intends to to hold to maturity. This item may include government and enterprise bonds or investment equity of enterprises that the MFI Plans to hold for more than 12 months. Other financial assets available for speculative sale is also included here.
B13	Long-term investments in non allied activities	Includes those investments that are not addressed by Investment in Equities of allied activities under Directive No. MFI/ 06/96. The MFI should disclose items in this account separately.
B14	Fixed assets	The cost or value of all physical property, property improvements, furniture, equipment, and other tangible assets such as software that the MFI currently uses.
B15	Accumulated depreciation and amortization	The sum of all depreciation expenses for fixed assets and the amortization of other tangible assets that have not yet been retired and removed from the balance sheet. Accumulated depreciation represents the reduction in value of fixed assets corresponding to the assets' remaining useful life
B16	Net fixed assets	The cost or value of fixed assets less accumulated depreciation and amortization (B14 - B15)
B17	Other assets	Any other assets not incorporated in the above category of assets. Any item reported here should be disclosed.
B18	Total assets	The value of all asset accounts net of any contra asset accounts. It is the summation of B1 + B2 + B3 + B4 + B7 +(B8-B9) +B10 +B11+B12+ B13 + B16 + B17

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B19	Voluntary Savings	Refers to the kind of savings in which savers have an absolute right to withdraw their saving balances without any conditions at their own discretions.
B20	Compulsory Savings	Savings which are tied to the repayment of outstanding loans as security or collateral.
B21	Time deposit	A deposit that can not be withdrawn for a certain term or period of time. When the term is over, it can be withdrawn or held for another term
B22	Demand deposit	Also referred as current or checking account from which deposited funds can be withdrawn at any time without any notice to the depository institution. It is a non interest bearing account.
B23	Loan Financing Debt-Commercial	Includes both short-term and long-term debt obtained in order to finance the loan portfolio. It is a debt with interest rate equal to or greater than 90% of the market rate. Debt acquired to finance non financial assets are not included in this account.
B24	Loan Financing Debt-Concessionary	Any kind of subsidized borrowing acquired to finance loan portfolio at a much lower rate than the market rate.
B25	Interest accrued on Commercial debt	Refers to accrued interest on commercial debt
B26	Interest accrued on concessionary debt	The balance of accrued interest on concessionary debt
B27	Interest payable on Savings	All accrued interest on savings of clients
B28	Deferred grants	Donation received or pledged in cash or non-cash but which are not yet recognized as revenue (and thus deferred to future period) because the MFI has not yet complied with restriction as to purpose, time, etc.
B29	Other short term liabilities	Include all other current liabilities that are not included above and debt incurred to fund non financial assets like fixed assets, whether commercial or concessionary

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B30	Other long term liabilities	Other liabilities which due after 12 months and not incorporated above
B31	Total Liabilities	The total value of all liability accounts. It is the sum of B19 + B20 + B21 B22 + B23 + B24 + B25 + B26 +B27 +B28 +B29 + B30
B32	Paid up capital	The value of capital paid by shareholders
B33	Donated Equity	The total value of all grants (B34 + B35)
B34	Granted equity - prior period	The total value of all grants acquired since the establishment of the MFI till the last prior period of the reporting period
B35	Granted equity -Current period	Grants received and recognized in the reporting period
B36	Retained Earnings (prior period)	The cumulative value of net income (after taxes and before donations) from prior periods, net of dividends paid to shareholders.
B37	Profit / Loss (current period)	The value of Net income net of tax but before inclusion of donation
B38	Legal Reserves	Legal reserves as per the applicable country and/or institution policy
B39	Other Capital Account	Other Equity accounts including all reevaluations and prior period adjustments. The MFI should disclose any any substantial item in this account
B40	Total Capital	Total value of all equity accounts. It is the sum of B32 +B33 + B36+ B37+ B38+B39
B41	Total liabilities and capital	It is the summation of B31 and B40

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