MABS HighlightsMicroinsurance

More Rural Banks Complete Microinsurance Training Course

Eighteen rural banks based in Luzon and Mindanao recently completed the Rural Bankers Association of the Philippines (RBAP) Basic Microinsurance Training during two separate sessions. Twenty-nine (29) bank officers and staff from ten (10) rural bank-members of the Cagayan-Kalinga Federation attended the training held in Cooperative Bank, Tuguegarao City, on November 24-25 while eleven (11) bank officers and staff from eight (8) rural banks participated in the course held on December 7-8 in Manila. Altogether, one hundred and sixty (160) rural banks have been trained under the RBAP Basic Microinsurance Training course since January 2011.

The two-day training covers the fundamental concepts and principles of microinsurance through lecture, group exercises and simulation activities. More importantly, participants are guided on the procedures and requirements of the Insurance Company and the Bangko Sentral ng Pilipinas for Microinsurance Agent licensing.

The course is part of the activities of the Rural Bankers Association of …

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Latest UpdatesMicroinsurance

Northern Bicol Federation Rural Banks Completed Microinsurance Training Course

Thirteen rural bank-members of the Northern Bicol Federation participated in the 16th Basic Microinsurance Training Course on December 16-17 at Café Frederico in Naga City. To date, 354 rural bank officers and staff from 168 rural banks have completed the training.

The two-day course is designed to guide and qualify rural banks to properly complete the licensing and approval process prescribed by the Insurance Commission, the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission. After successful completion of the course training and the examination, participants will be certified as trained by RBAP, qualifying them as microinsurance soliciting officers of their respective banks.

Northern Bicol Federation rural banks represented were: Bangko Rural ng Pasacao, Municipal Rural Bank of Libmanan, Municipal Rural Bank of Nabua, Peñafrancia Rural Bank of Calabanga, Rural Bank of Goa, Rural Bank of Jose Panganiban, Rural Bank of Ocampo, Rural Bank of Paracale, Rural Bank of …

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Latest UpdatesMABS Highlights

Rural Banks Prepare for Pricing Transparency

In preparation for the Bangko Sentral ng Pilipinas (BSP) regulation on effective interest rate calculations, Ms. Leila Deles of Microfinance Transparency (MFT) showed how this regulation impacts on how interest rates are disclosed to clients and the profitability of microloans.

Ms. Deles set the context of the session by emphasizing that pricing transparency refers to the terms and the condition where financial products are disclosed to clients in a manner that allows both accurate understanding of prices and comparison of different products. She also provided information on the promotion of transparency, data collection, standardization of pricing calculations, and development of educational materials to support this initiative. More importantly, MFT consulted with regulators and policy makers to establish the basis for pricing in the microfinance sector.

She also gave updates on MFT’s transparent pricing initiative in the country by showing the different perspectives about transparency from regulators, investors, and clients. In …

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Latest UpdatesMABS Highlights

RBAP-MABS Outlines Financial Education for Branchless Banking During the 8th Citi-Financial Times Financial Education Summit

The 8th Citi-Financial Times (FT) Financial Education Summit, the most established annual international forum on financial literacy, was held on November 28-29, 2011 in Jakarta, Indonesia. With the theme “Empowering the Disadvantaged: Inclusive and Innovative Approaches to Financial Capability”, the Summit focused on how to increase the uptake of financial education initiatives at grassroots levels – microentrepreneurs, migrant workers, and low-income youth – and also explored the use of technology and media in scaling programs and reducing the cost of delivery.  The roles of national frameworks and multi-stakeholder partnerships in addressing large-scale financial capability and consumer protection needs were also addressed.

In one of the panel discussions, the United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services Program presented its Financial Education for Branchless Banking Project, an initiative implemented in partnership with MasterCard Foundation and Microfinance Opportunities. The presentation highlighted how …

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AnnouncementsMicroinsurance

Microinsurance Basic Training Course for Northern Bicol Federation on December 16-17

We are pleased to announce the Microinsurance Basic Training Course for Northern Bicol Federation is scheduled on December 16-17 at Cafe Frederico in Naga City.

This course is designed to help rural banks qualify for licensing as microinsurance agents/brokers in order to market, sell, and service microinsurance services in compliance with BSP Memo Circular 683-2010 and BSP Memo 15-2011.  This training will also provide participants with a step-by-step guide and templates for the licensing and approval process with the Insurance Commission and the Bangko Sentral ng Pilipinas.

Topics covered will include:

Module 1 >  Fundamentals of Insurance & Microinsurance

Module 2 >  Microinsurance regulations on formalization and responsible sales, marketing and distribution (includes a step-by-step guide with all forms and letters required to comply with microinsurance authorization process)

Module 3 >  Effective Marketing and Service Delivery Standards…

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Latest Updates

Katipunan Bank Expands Microfinance Services in Mindanao and the Visayas

Established in 1979 in the quiet town of Katipunan in Zamboanga del Norte, Rural Bank of Katipunan’s original mission was to service the banking needs of the community, particularly the public school teachers.

With competition getting stiffer, the Rural Bank of Katipunan decided to move its main office to Dipolog City, and also changed the bank’s name to Katipunan Bank. In Dipolog City, a new head office building was completed in 2009. The new head office is one of the most impressive buildings in the middle of Dipolog City’s business hub.

Today, Katipunan Bank is a major player in the microfinance industry. It is providing diversified bank products and services that are attuned to the needs of its clients and customers. Katipunan Bank has also adopted modern banking facilities and technologies, including co-branded ATMs, cash cards, and mobile phone banking services.

Katipunan Bank has nine (9) branches and twenty-one Micro …

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Latest UpdatesMicroinsuranceVideos

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.

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Latest UpdatesMABS HighlightsMicroinsurance

Northwestern Mindanao Rural Bankers Complete the Microinsurance Basic Training Course

The Northwestern Mindanao Federation rural bank members participated in the Microinsurance (MI) Basic Training Course held at the Bethany Gardens Resort in Ozamis City, Misamis Occidental last August 11 and 12. Twenty-two (22) officers and staff from eleven (11) rural banks attended the course which covers the fundamentals of microinsurance, including marketing and servicing of clients.

The two-day MI Basic Training Course is part of the Insurance Commissions requirements for Microinsurance Agent Licensing. In addition, participating banks must also pass the qualifying exam administered at the end of the course and amend the bank’s article of incorporation to include microinsurance as its new service.

The Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program has been assisting the Rural Bankers Research and Development Foundation Inc. (RBRDFI) in offering a turn-key solution for rural banks to become licensed microinsurance agents. To facilitate rural bank microinsurance agent licensing applications, …

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Latest UpdatesMABS HighlightsMicroinsurance

Luzon Rural Bankers Complete Microinsurance Basic Training Course

Ten rural banks from Luzon attended the Microinsurance Basic Training Course held at the Orchid Garden Hotel in Manila on August 2-3, 2011.  Nineteen (19) of the course participants also successfully completed the qualifying examinations administered at the end of the course, which is the first step to becoming a qualified Microinsurance Soliciting Officer.

The two-day training covers the fundamentals of microinsurance, marketing and servicing. One of the tools used in the training is the Microinsurance Agent Tool Kit which includes all the requirements from the Insurance Commission and the Bangko Sentral ng Pilipinas to apply for a Microinsurance Agent License.

Since its launch in January 2011, 208 rural bank representatives from 99 rural banks have been trained under the Rural Bankers Research and Development Foundation Inc. Microinsurance Basic Training Course. Upcoming course will also be held on August 11-12 in Ozamiz City, August 18-19 in Davao City and in …

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