How did the idea of creating LuxFLAG come about?
In October 2005, as part of the United Nations’ Year of Microcredit, Luxembourg hosted a Round Table on Microfinance at which a number of studies were presented and debated and some conclusions were reached as to how Luxembourg could support microfinance and establish itself as a key player in the development of microfinance within the traditional capital markets. The first step proposed was the establishment of a label which would permit investors to be sure that the investment funds to which they commit their money are investing substantially in microfinance. As a result the Luxembourg Fund Labelling Agency, LuxFLAG, was formed as an independent organisation in July 2006. It is anticipated that the activity of the agency will raise the profile of Luxembourg as a potential domicile for MIV. The agency is just one initiative in a general movement within the Luxembourg financial centre to support microfinance in all its manifestations, including micro-insurance, money remittances and sa
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