Hello everyone, my name is Jeff Blue. I'm a programmer looking at Mifos for SEM, an MFI in Senegal, Africa (http://www.sem-fund.org/).
One aspect of Mifos that would be potentially confusing to SEM's loan officers and a likely cause of data entry errors is the way the loan interest rate is entered. SEM calculates loan interest as a flat percentage of the principal, regardless of loan term or number of installments. From what I understand in Mifos the value entered for the interest rate in both loan product definition and a customer's new loan account is the interest per installment period. SEM would much prefer that they be able to define loans and create loan accounts by entering the flat percentage of the principal that they use. Unless someone else in this community has already addressed this, we would like to customize Mifos to implement this. So, we plan on submitting a feature request. Is this a feature of interest to others in the community? While customizing Mifos for this feature, it would be simple to include the ability to enter the interest value per year as well, if that would be desired by anyone. Would anyone like to enter into discussions on pros and cons and how best to implement this? BTW, what is the accepted pronunciation of Mifos? Thanks, Jeff Blue ------------------------------------------------------------------------- This SF.net email is sponsored by the 2008 JavaOne(SM) Conference Don't miss this year's exciting event. There's still time to save $100. Use priority code J8TL2D2. http://ad.doubleclick.net/clk;198757673;13503038;p?http://java.sun.com/javaone _______________________________________________ Mifos-functional mailing list Mifos-functional@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/mifos-functional
