Zakoura at the international scale
The Microcredit Summit
Since 1997, the Zakoura Foundation for Microcredit is an active member of the Microcredit Summit, an assembly of practitioners. 5 certificates of appreciation (1999, 2000, 2001, 2002, and 2003) have been delivered to the Foundation. In December 2003, Zakoura became consultative member of the Board of the Microcredit Summit for the “Arab World’ region. The Foundation also participated in the founding summit in 1997 as well as in the regional summit in Harare (Zimbabwe) which was held in 2000. As a member of the Board of the Microcredit Summit, the Foundation sends its institutional action plan to the General Secretariat of the Microcredit Summit every year.
The Zakoura Foundation for Microcredit is a founding member of the Sanabel network, a regional network for microfinance institutions (MFI’s) of the Arab world. It took part in the first meeting in 2002, held in Tunis, with 17 MFI’s from Egypt, Jordan, Lebanon, Palestine, Yemen, Tunisia and Morocco. The Foundation also participated in the regional conferences of the MFI’s of the Arab world which took place in Amman in 2003, in Cairo in 2004 and in Marrakech in 2005, where the participating MFI’s were able to exchange their experiences and their best practices.
Save the Children
Save the Children and the Zakoura Foundation have worked together since 1997, when Save the Children started working with 5 Moroccan microcredit associations under UNDP’s Micro Start program. The Foundation has also benefited from many training workshops, and has received the support of Save the Children for the identification of its institutional-capacity-building needs (human resources and training, communication system and repayment procedures, information management, and training system). Zakoura also participated in study tours and annual partner meetings organized by Save the Children in El Jadida in 2000, in Bangkok in 2002, in Siem Reap in 2003, in Cairo in 2005 and in Casablanca in 2005. Two missions for the evaluation of the risks which could be run by Zakoura were conducted by Save the Children. Most recently, Save the Children and Zakoura launched a new program focusing on vulnerable youth in Morocco.
The Mix Market
In 2003, the Zakoura Foundation for Microcredit registered its profile (Outreach and Financial Impact Data from 1997 to 2003) on Mix Market, the of information microfinance platform. Today Zakoura has received a maximum score of 5 diamonds for transparency on Mix Market. This was done by making many documents available to the public. These include the last three audits and financial statements, including the auditors’ opinion, annual activity reports, Planet Rating’s rating report, and the impact study funded by UNDP.
Fédération Nationale des Associations de Micro Crédit, FNAM
The Zakoura Foundation is also a founding member of FNAM, a federation required by the Moroccan Microcredit law. The main goals are: establishing the code of ethics for microcredit activities and ensuring its members follow the rules of the code; informing and proposing new activities that are likely to support the development of microcredit to the Minister of Finances; and to create and manage all common services which are likely to promote the development of the microcredit.