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Call for Nominations: Citi Microentrepreneur of the Year (MOTY) Awards

Dear Friends and Partners,

Citi Philippines, the Microfinance Council of the Philippines Inc., and the Bangko Sentral ng Pilipinas are conducting the ninth run of the Citi Microentrepreneur of the Year (MOTY) Awards, a nationwide search for outstanding Filipino microentrepreneurs. The awards program aims to elevate awareness of and provide support for microfinance by recognizing outstanding microentrepreneurs.

There are two awards categories: the Masikap Award and the Maunlad Award. The Masikap Award is open to microentrepreneurs who successfully started a business that is now a reliable source of income for the family. The Maunlad Award, on the other hand, is open to microentrepreneurs that have grown a business to a level that is now generating employment for people apart from household or family members.

A national awardee and three island group (Luzon, Visayas, and Mindanao) awardees will be chosen for each category. The respective prizes are as follows: PhP200,000 for …

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Latest UpdatesMABS HighlightsMicroinsurance

RBAP-MABS & PLIA hold workshop on performance monitoring of microinsurance for life insurance companies

On May 25, RBAP-MABS, with support from USAID/Philippines and the Philippine Life Insurance Association (PLIA), jointly conducted a microinsurance performance monitoring forum for 43 representatives from 25 of the association’s member companies. The main resource person for the activity was RBAP-MABS Microinsurance Consultant and internationally known expert, Mr. Michael McCord.

The activity built on the significant developments in regulations for microinsurance providers, especially Insurance Memo Circular 05-2011 on the Performance Standards for Microinsurance providers released by the Insurance Commission in January 2011. Core to the discussion was the importance of monitoring financial performance indicators in assessing the sustained viability of microinsurance for commercial life insurance companies. Mr. McCord also stressed that venturing into the business of microinsurance requires a commitment to ensuring that services are delivered in the most efficient and appropriate manner for clients.

The activity concluded with PLIA President George Mercado assuring participants that the association will continue …

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Latest UpdatesMABS HighlightsMicroinsuranceMicroinsurance Announcements

RBAP-MABS conducts microinsurance workshop for rural banks

The Rural Bankers Research and Development Foundation, Inc. (RBRDFI) and the RBAP-MABS program supported by USAID/Philippines organized a half-day microinsurance workshop for rural banks on May 27. The workshop was primarily aimed at further enhancing the knowledge and capability of rural banks as microinsurance agents and brokers.

Facilitated by RBAP-MABS Microinsurance Consultant Michael McCord, the event was participated in by nine representatives from eight rural banks trained by RBAP in Basic Microinsurance.  Also in attendance were members of the RBAP-MABS team and two members from the RBRDFI team for microinsurance.

Mr. McCord engaged the participants in a course of simulation games and interactive group activities built on topics such as the value of microinsurance, its fundamental principles and strategies for selling microinsurance by rural banks.  While this deepened the learning of basic concepts and principles for rural bank trainees, the RBRDFI microinsurance training team picked up new approaches to expand …

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MABS FeaturesMABS Highlights

Conditional Cash Transfer, Rural Banks, and Mobile Money Transfer: Observations and Reflections

In a scene being played out in various places in the country, some of them more remote, over 400 households from four barangays in the municipality of Sogod, Cebu received financial support from the government through the Department of Social Welfare and Development’s (DSWD) Pantawid Pamilyang Pilipino Program (4Ps) on May 4, 2011.A 5-year program of the Philippine Government, 4Ps provides conditional cash grants for the poorest families in identified municipalities as financial aid for the family’s health and for children’s education. Aside from disbursements through the Land Bank of the Philippines, conditional cash transfers (CCT) are being disbursed too with the involvement of mobile money remittance channels such as rural banks and their mobile phone banking facility.

On May 4, I witnessed the day-long process of how atotal of PhP562,700 ($13,070) was disbursed to 414 beneficiaries composed mainly of women.It was the second cash grant for this group of …

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MABS HighlightsMicroinsurance

RBAP conducts its 5th Microinsurance Basic Training in Cebu

Eighteen (18) officers and staff of eleven (11) rural banks participated in the 2-day Microinsurance Basic Training held on May 4 and 5 at the Golden Prince Hotel in Cebu City.  Stated goals of the participants included (1) increased understanding of the concept and principles of microinsurance; (2) identification of criteria for partnership selection, and (3) awareness of requirements and procedures for regulatory compliance in offering Microinsurance.

With this in mind, the Microinsurance Training Team employed a mix of lectures, workshops and simulation activities to ensure that the participants not only learn the basic concepts of microinsurance, but also aim to pursue responsible microinsurance marketing and servicing as licensed microinsurance agents/brokers.  The Microinsurance Agent Licensing Kit containing step-by-step guides and templates was provided to all participants. This kit is to assist the participants’ respective banks through microinsurance service enhancements and regulatory compliance procedures prescribed by the Insurance Commission (IC) and …

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MABS HighlightsMABS Reports

USAID/Philippines RBAP-MABS program highlighted at the ‘Mission of the Month’ event in Washington DC

USAID/Washington designated the Philippines as its ‘Mission of the Month’ for April 2011, and highlighted the Rural Bankers Association of the Philippines – Microenterprise Access to Banking Services (RBAP-MABS) program as a project that has demonstrated impact.  During the event, the program’s success stories and lessons learned were shared with officials at the USAID headquarters in Washington, DC.

Melissa Scudo, Chemonics’ Director for Asia, presented the program’s history, work with rural banks, technical approach, and innovations in the field of microfinance.  The RBAP-MABS program supported by USAID/Philippines works with rural banks to sustainably expand microenterprise access to banking services throughout the Philippines.

A cross section of USAID personnel engaged in a lively discussion about the MABS Approach, which RBAP-MABS has been implementing to strengthen commercial microfinance services and its linkages to economic growth and poverty alleviation in Philippine rural areas.

The RBAP-MABS program began in 1997, focusing first on Mindanao. …

MABS FeaturesSuccess Stories

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 …

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MABS HighlightsMABS Tips

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 becoming better at communicating the value of Microfinance services.”

Led by Ms. Elisabeth Rhyne, Managing Director of ACCION International’s Center for Financial Inclusion and organized for the microfinance stakeholders in the Philippines particularly rural banks, NGOs, credit cooperatives and others, the seminar provided interesting discussions on some of the issues …

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MABS Highlights

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 …

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MABS Tips

New Developments in the BAP-Credit Bureau

By: MABS Microfinance Specialist Bernabe Bunao Jr.

One of the keys to successful lending operations is to properly screen out clients who are over-indebted or with poor credit histories. This is becoming increasingly important as the sector becomes more competitive than ever before.  A useful tool to manage and mitigate these inherent risks is through the practice of credit sharing among lenders.  Rural banks are fortunate to have the opportunity to make use of private credit bureaus such as the Bankers Association of the Philippines – Credit Bureau (BAP-CB).
BAP-Credit Bureau offers functional online credit information services that pave the way for quick credit decisions. The technology is homegrown as the tool is in response to rural banks’ requirements that are comprehensive and integrated with a secure database.

One of the keys to successful lending operations is to properly screen out clients who are over-indebted or with poor credit histories. …

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