ASOFIN was established in 1999. It is a private, non-for-profit network that represents the regulated microfinance sector in Bolivia. Its objectives are: 

• "To associate and integrate regulated microfinance entities in one organic body;
• To propose and design policies oriented to preserve and protect the interests and priorities of the microfinance sector within the context of national development; and
• To represent the associated entities in the defense of their common interests, ensuring an ethical development of their activity."

Its membership is comprised of eight financial institutions, two of which are specialized banks, five of which are private financial funds (FFPs), and one of which is a foundation that is in the process of obtaining its license from the SBEF.