This paper aims to explore whether the introduction of microfinance regulation might affect the way in which MFIs manage their double bottom line. Given the recent passage of a microfinance law in Italy, we qualitatively explore the perceptions of a group of Italian microfinance stakeholders on the new regulatory framework and its effect on MFIs’ double bottom line management through establishing interinstitutional partnerships. Focusing on one of the regions with more microcredit programmes in Italy (Emilia Romagna), we generated data through qualitative indepth semi-structured interviews with five senior managers in MFIs, two members of the Italian government who voted for the new microfinance law and one expert in the field of microcredit