The Credit Information Act or RA 9510 was signed into law by President Gloria Macapagal-Arroyo on October 31, 2008. The law mandates the establishment of the Central Credit Information Corporation (CCIC), which will gather information from financial institutions and consolidate them into a centralized system. The system will help address the lack of reliable information on the credit standing of borrowers, thus will be useful in creditworthiness checks and in facilitating decisions of financial institutions. A good and efficient credit information system will help lower credit risk thus will also help lower the cost of financing and interest rates.
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PGMA signs Credit Information Act
October 31, 2008 By Leave a Comment
Cantilan Bank highlights MABS Mobile Phone Banking Services during PlaNet Finance Conference in India
October 31, 2008 By Leave a Comment
Brig. Gen. Charles Y. Hotchkiss (Ret.), the EXECOM Chair of MABS participating bank Cantilan Bank, participated as a panelist for the mobile banking session of the Microfinance and New Technologies (MFNT) Conference organized by PlaNet Finance, a Paris-based microfinance technical services provider that aims to help alleviate poverty worldwide through the development of microfinance.
Held on October 21-22, 2008 in New Delhi, India, the conference discussed how the use of information and communications technology (ICT) can benefit the microfinance industry. The highlights of the conference can be found on the Microfinance Insights blog.
Colombians learn Mobile Phone Banking from the Philippine experience
October 31, 2008 By Leave a Comment
October 20, 2008 – As a pioneer in mobile phone banking for microfinance, MABS shared the Program’s firsthand knowledge and experience with a Colombian delegation. Colombian banks and other financial institutions have just recently offered mobile phone banking and wanted to expand and deepen its implementation in the country. The exposure and study visit was organized by USAID/Colombia’s More Investment for Sustainable Development (MIDAS), a program which provides technical assistance to banks engaged in offering microfinance services in Colombia. [Read more...]
USAID visits MABS participating banks and clients in Mindanao
October 31, 2008 By Leave a Comment
USAID Head of the Office of Economic Development and Governance (OEDG) Christian Hougen and USAID Philippines Project Management Specialist Teresita Espenilla conducted an exposure visit to MABS participating banks (PBs) and microfinance clients in Mindanao on October 16-17, 2008. The PBs visited were Green Bank in Butuan City and Cantilan Bank in Surigao del Sur. [Read more...]
