Download MABS September 2009 Highlights
.
September 2009 Highlights
September 30, 2009 By Leave a Comment
Rural Banks, offering a competitive advantage for Microinsurance services
September 25, 2009 By Leave a Comment
Rural banks, in partnership with commercial insurance companies, have one of the best opportunities to reach the greatest number of low income households and facilitate formal microinsurance services across the countryside using a partnership model. In this model, commercial insurers carry the risk and the rural banks can disseminate information and help facilitate collections and disbursements to clients in the countryside.
A series of two articles written by sub-editor Judy T. Gulane was published in Business World presenting an extensive view of the prospects for facilitating greater access to microinsurance services through Philippine rural banks. According to the article, the Bangko Sentral ng Pilipinas (BSP) is open to the proposal of the Rural Bankers Association of the Philippines (RBAP) to allow a partnership model. The articles also stated that the BSP is expected to release a circular soon, setting forth the conditions for allowing rural banks to distribute microinsurance services, thereby greatly expanding access for millions of Filipinos.
Rural banks, in partnership with commercial insurance companies, have one of the best opportunities to reach the greatest number of low income households and facilitate formal microinsurance services across the countryside using a partnership model. In this model, commercial insurers carry the risk and the rural banks can disseminate information and help facilitate collections and disbursements to clients in the countryside.
PB in Focus: Cantilan Bank, helping to create greater access to formal microinsurance
September 25, 2009 By Leave a Comment
Cantilan Bank is one of the rural banks that can be considered as an exemplar of successful microinsurance initiative through the partnership model, a microinsurance delivery scheme which involves partnering with a leading insurance provider in providing formal microinsurance to clients. From the onset of its partnership with the Philippine American Life and General Insurance Company (PhilAm Life) in 2005, Cantilan Bank has ensured its clients are offered with insurance products in the community that best serve their needs.
Through this successful partnership, PhilAm Life has been able to offer Cantilan Bank insurance benefits that go beyond the usual credit life insurance services generally offered by banks. As a result, Cantilan Bank continues to see microinsurance as strategic to the strengthening of its microfinance services, the growth of its clientele, and the strengthening of its current client base.
Cantilan Bank’s clients give high marks to PhilAm Life and Cantilan Bank’s products and services. In the focus group discussions and surveys, the clients agreed that the microinsurance adds significant value when offered alongside the bank’s microfinance loan products. Positive feedback from clients were manifestations of the important role that the bank provides in its community including greater access to payments for appropriate formal microinsurance services.
Cantilan Bank is one of the rural banks that can be considered as an exemplar of successful microinsurance initiative through the partnership model, a microinsurance delivery scheme which involves partnering with a leading insurance provider in providing formal microinsurance to clients. From the onset of its partnership with the Philippine American Life and General Insurance Company (PhilAm Life) in 2005, Cantilan Bank has ensured its clients are offered with insurance products in the community that best serve their needs.
Through this successful partnership, PhilAm Life has been able to offer Cantilan Bank insurance benefits that go beyond the usual credit life insurance services generally offered by banks. As a result, Cantilan Bank continues to see microinsurance as strategic to the strengthening of its microfinance services, the growth of its clientele, and the strengthening of its current client base. [Read more...]
Pakistani study group takes a look at microfinance in the Philippines
September 19, 2009 By Leave a Comment
A delegation of 12 members from Pakistan’s National Rural Support Programme (NRSP) conducted a study observation visit to the Philippines on September 14-18, facilitated by the Rural Bankers Association of the Philippines (RBAP). The study tour was conducted to allow the Pakistani delegates to observe the Philippine rural banking industry and its operations, including the implementation of the MABS Approach to Microfinance among MABS participating banks (PB).
The 5-day study tour included field visits to CARD Bank and MABS PBs First Macro Bank and Bangko Kabayan. The Pakistani delegation observed the banks’ operations, visited their clients and studied the banks’ lending procedures and mobile phone banking operations. They also visited MABS, RBAP, the Bangko Sentral ng Pilipinas (BSP), Microfinance Council of the Philippines, Inc. (MCPI), CARD MRI (Center for Agriculture and Rural Development
Mutually Reinforcing Institutions) and TSPI Development Corporation. From these institutions, the NRSP delegates learned about the Philippine policy and regulatory framework for microfinance, MABS Approach to Microfinance, MABS initiatives, and rural outreach methodologies of various rural microfinance institutions.
NRSP is a Pakistan-based non-profit organization which aims to alleviate poverty in the country by undertaking developmental activities and developing people’s skills. The largest such program in Pakistan, NRSP has outreach in all 4 provinces and is currently working with more than 500,000 poor households.
A delegation of 12 members from Pakistan’s National Rural Support Programme (NRSP) conducted a study observation visit to the Philippines on September 14-18, facilitated by the Rural Bankers Association of the Philippines (RBAP). [Read more...]
MABS and South Bicol Federation of Rural Banks hold the first roundtable conference for Bicol
September 12, 2009 By Leave a Comment
On September 11, the South Bicol Federation of Rural Banks led by its president, Mr. Mario Honrado, held a roundtable conference for Bicol banks in partnership with the USAID-supported RBAP-MABS Program. The first such event held in Bicol, the conference was held to update and equip rural banks with the current trends in microfinance. About 35 participants from 11 Bicol-based banks attended the conference held at Kanzo Hall in Legaspi City, Albay.
MABS helps rural banks to develop the capacity to profitably provide microfinance services to microentrepreneurs and low-income households. Moving towards this goal, MABS regularly supports roundtable conferences to update rural banks on microfinance best practices and latest developments.
On September 11, the South Bicol Federation of Rural Banks led by its president, Mr. Mario Honrado, held a roundtable conference for Bicol banks in partnership with the USAID-supported RBAP-MABS Program. The first such event held in Bicol, the conference was held to update and equip rural banks with the current trends in microfinance. About 35 participants from 11 Bicol-based banks attended the conference held at Kanzo Hall in Legaspi City, Albay.
MABS helps rural banks to develop the capacity to profitably provide microfinance services to microentrepreneurs and low-income households. [Read more...]
