Microfinance is a banking service that is provided to unemployed or low-income persons or groups that would not other have access to financial services. It enables people to take out appropriate small business loans safely and by ethical lending principles.

Developing a mission statement for a microfinance institution involves identifying the organization's purpose and values, and communicating them concisely and memorably. The following are some steps that can be taken to develop a mission statement for a microfinance institution:

Define the purpose of the organization: A microfinance institution's purpose is typically to provide financial services, such as loans and savings accounts, to individuals and groups who are traditionally excluded from the formal financial sector.

Identify the target population: Microfinance institutions often serve low-income individuals and communities, so it's important to consider the specific needs and characteristics of the target population when developing a mission statement.

Identify the organization's values: Microfinance institutions often have values such as financial inclusion, sustainability, and empowerment.

Write a draft mission statement: Using the information gathered from the previous steps, write a draft mission statement that captures the organization's purpose, target population, and values concisely and memorably.

Get input from stakeholders: Share the draft mission statement with staff, board members, clients, and other stakeholders for feedback and suggestions.

Revise and finalize the mission statement: Incorporate feedback and suggestions, and finalize the mission statement.

It's worth noting that a mission statement registration should be reviewed and updated periodically to reflect changes in the organization or the environment in which it operates.