The Power of Savings – Rural Miners Open their First Savings Accounts

From Butuan City going north towards Surigao Norte is the town of Tubod, where mining has become a major source of employment to local residents and those in the outlying towns. Hired by labor sub-contractors of the mining company there, the number of miner-laborers peaks during the dry season and declines during the rainy season. The mining site is about five kilometers away from the Cantilan Bank Tubod Branch, which started its operations in 2005.

As is the practice in the mining industry, mining companies operating in Surigao del Norte and Surigao del Sur outsource their labor requirements to sub-contractors. In some cases, the laborers generally come from outside the local towns. In the case of the mining company in Tubod, more than 50% of the laborers are local residents who work as “casual” laborers in the mine. Since the work is only temporary, there are times when these laborers …

RBAP-MABS and Smart Money expand RB Mabitac’s mobile money transfer services

On April 15-16, RBAP-MABS and Smart Communications trained 14 field officers of the Rural Bank of Mabitac (RB Mabitac) on mobile money transfer using Smart Money. The two-day Field Officers’ Smart Money Training/Workshop held in Los Baños, Laguna was attended by 14 representatives from five RB Mabitac branches: Los Baños, Paete, Candelaria, Infanta and Cabuyao.

Smart Communications is one of the leading wireless services providers in the Philippines, with over 45 million subscribers and 8 million Smart Money subscribers nationwide. RBAP, through its MABS program, collaborated with Smart to pilot test its e-money transfer services with RB Mabitac.

Three RB Mabitac branches (Cabuyao branch, Infanta branch and the head office) participated in the pilot test conducted with 30 clients and selected bank employees. The Bangko Sentral ng Pilipinas (BSP), through its Core Information Technology Supervision Group (BSP-CITSG), recently gave conditional approval for RB Mabitac to conduct Smart Money MIMO (money …