RBAP-MABS Participates in the Microinsurance Advocacy Training

In celebration of Microinsurance Month, a three-day Training on Microinsurance Advocacy (TOMA) was held in Tagaytay City from January 18-20. The Microinsurance Teams of the United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) and RBAP-Rural Bankers Research Development Foundation Inc. participated.  The event was the third in a series of workshops under the Financial Literacy Roadshow on Microinsurance Advocacy that will be conducted in sixteen (16) regions of the country. Collaborators include German International Cooperation-Microinsurance Innovations Program for Social Security (GIZ-MIPSS), Insurance Commission, National Credit Council (NCC) of the Department of …

Video: Microinsurance Services of Rural Banks

This video documents the microinsurance efforts of the Rural Bankers Association of the Philippines in partnership with United States Agency for International Development/Philippines through the Microenterprise Access to Banking Services (MABS) Program and the International Labour Organization under the Microinsurance Innovation Facility.

Rural Banks at the Forefront of Financial Inclusion

During his keynote speech at the Inaugural Dinner of the Rural Bankers Association of the Philippines (RBAP) last August 4, Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr recalled the journey of the two institutions in pursuance of advancing the rural banking sector and expanding financial services through innovative channels to more Filipinos.

Governor Tetangco noted that only five years ago, products and services offered by rural banks were limited. The recent BSP’s Circular 678, 680 and 683 are now allowing rural banks to expand products and services to serve even more clients than ever before. These circulars recognize

How to Avoid an India-type Microfinance Crisis in the Philippines

As prologue to the BSP’s (Bangko Sentral ng Pilipinas) National Microfinance Stakeholders Summit held on April 5, the Rural Bankers Association of the Philippines Microenterprise Access to Banking Services (RBAP-MABS) with support from USAID/Philippines and the Microfinance Council of the Philippines (MCPI) jointly held a pre-summit seminar on April 4 discussing “How to Avoid an India-type Microfinance Crisis in the Philippines”.

Opening the forum, RBAP President Corazon Miller described the India microfinance crisis as “a wake-up call for microfinance practitioners in the Philippines to begin the proactive process of strengthening transparency, following consumer protection practices, improving governance, and

Marketing Tips for Reaching Microfinance Clients

Mr. Mike Rios of Microfinance Opportunities livened up the audience at the 2010 RBAP-MABS National Roundtable Conference in Manila on June 3rd with an entertaining and informative presentation on marketing strategies.

Market like your customer, not like your ‘Mom’” was the first of his three rules of marketing new products. Too often, marketers focus on the benefits that are not tangible to the customer, pretty much like moms lecturing about the benefits of vitamins to their children. Imagining what it is like to be a customer should drive design, branding and marketing decisions. Think of how Flintstones vitamins …

Mobile phone banking merchant partners help ease banking in Surigao

A growing number of store owners are collaborating with rural banks and connecting to the GCASH network from Cantilan to Butuan City and across the region. These store owners are providing cash-in and cash-out services to support mobile phone banking services as well as mobile money transfer in these areas.

The partnership between RBAP-MABS and G-XChange, Inc. (GXI), Globe Telecom’s wholly owned subsidiary, has helped develop and implement mobile phone banking applications and m-commerce services for rural banks and their clients.  Based on a secure GCASH menu, mobile phone banking clients of accredited rural banks can receive loans, make payments …

Delegates from Pacific Islands study Philippine mobile phone banking

A joint study group of 9 members from the Alliance for Financial Inclusion (AFI) and the Pacific Island Central Bankers visited the Philippines on June 21-23, 2010 to learn about Philippine mobile phone banking. Specifically, they were interested in the regulatory approach adopted by the Bangko Sentral ng Pilipinas (BSP) for its successful implementation.

RBAP-MABS, a USAID-supported program, presented to the study group its experiences with rural banks and microfinance clients in developing and implementing its mobile phone banking initiatives using the GCASH platform. The RBAP-MABS team also shared the lessons learned over the past 5 years or so of …

Lower taxes on life insurance to boost microinsurance in the Philippines

Clients interested to access microinsurance services may now celebrate another legal development that allows for more affordable life insurance products with the recent signing of Republic Act (RA) 10001, which reduces taxes on life insurance premiums.

Under this new law, the tax rate for total premiums collected has been scaled down to 2% from the previous rate of 5% stated in Section 123 of the National Internal Revenue Code of 1997. The new law also provides for a revised documentary stamp tax scheme.

“It is expected that life insurance companies will reflect such reductions in the premiums … after the …

RBAP plans for big time mobile phone banking services expansion this 2010

The Rural Bankers Association of the Philippines (RBAP) projects a substantial increase in mobile phone banking services this year as G-Xchange, Inc. (GXI) plans to activate Globe Telecom’s nationwide sub distributer network of over 18,000 cash-in and cash-out outlets.

Combined with the mobile phone banking services developed by USAID-supported RBAP-MABS program, this will provide the rural banks with a virtual ATM network that more than doubles the current count of about 8,000.  “We see this as an opportunity to leapfrog the rural banking sector’s outreach in the countryside and we are gearing up to accomplish this in 2010,” said RBAP …