PDIC Calls For Quicker Liquidation
Removal Of 90-Day Receivership Period
By LEE C. CHIPONGIAN
June 27, 2012, 5:36pm
MANILA, Philippines --- The Philippine Deposit Insurance Corp. (PDIC) is
insisting on the removal of the 90-day receivership period in its
proposed Closed Bank Liquidation Act (CBLA) which would effectively
cancel the placing of expired banks under a technical receivership and
proceed directly to asset disposition.
Under existing charter and law of both the PDIC and the Bangko Sentral
ng Pilipinas (BSP), banks threatened by bankruptcy are placed under
receivership with the PDIC to basically, avoid liquidation. However
since 2010, the BSP and PDIC had been working on the cancellation of the
90-day receivership mandate. The debate centered on the issue that the
BSP's Prompt Corrective Action (PCA) framework has already processed
problematic banks and most have already undergone rehabilitation which
failed, hence the closures.
"The banks' rehabilitation should have happened already (with PCA),"
said PDIC President Valentin A. Araneta. "So what's going to happen
(with CBLA) is more clout for the regulator to force action before
closure and this serves everybody the best. (It would mean) a smooth
transition and it's not destructive to depositors, especially if you
have the bridge bank facility … It will be as if nothing happened."
"It's better for depositors to remove the 90-day receivership," Araneta
added.
This policy change is one of the important features of CBLA, which has
yet to take off in the Lower House and the Senate. Aside from the
removal of the 90-day receivership period, the proposed bill is also
pushing for the bridge banking as another form of liquidation and
increased authority for PDIC in the takeover, liquidation and "winding
up" of closed banks.
PDIC Executive Vice President Cristina Q. Orbeta, in charge of
receivership and liquidation, said they want to dispose of the assets
immediately once the bank is ordered closed by the BSP, and not to wait
for another three months to see it done.
Orbeta explained that the provision was in the law because before the
PCA, closed banks needed more time to sort out before liquidating assets
under receivership.
"The understanding before is they wanted to give time for the
stockholders (of closed banks) to address the problems but now, early on
there's already the PCA and when the bank has been closed, they have
already exhausted all the possibilities," said Orbeta. About 90 percent
of the time nothing more can be done for the closed bank, she added.
"(And) it's too costly to rehabilitate the bank and we cannot proceed
immediately to sell the banks' assets."
As receiver and liquidator, PDIC is mandated to gather and take charge
of all the assets and liabilities of closed banks and convert their
assets to cash for disposal to creditors.
It can also extend financial assistance to banks in order to protect the
interest of depositors but the assistance is granted only if there is a
viable rehabilitation plan, including capital recovery.
Under the present system, a bank found in early stages of distress and
non-compliance with standard conditions and ratings is placed under the
BSP's PCA. When all options have failed, the bank is ordered closed by
the BSP's Monetary Board. But, PDIC may still accept rehabilitation
proposals during the 90-day receivership period, most of which come from
previous owners and stockholders of the closed banks.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Thursday, June 28, 2012
Thursday, June 21, 2012
SSS Shifting To Electronic Releases
SSS Shifting To Electronic Releases
By CHINO S. LEYCO
June 20, 2012, 4:32pm
MANILA, Philippines --- State-run Social Security System (SSS) said
yesterday that it plans to shift towards the electronic disbursement of
salary loans and short-term benefits from its current system of
releasing them through checks.
Emilio de Quiros Jr., SSS president and chief executive said the pension
fund has started this year its mandatory reimbursement of employees'
sickness and maternity claims through bank accounts of employers all
over the country as initial step.
De Quiros said the move aims to provide more convenience and ensure the
timely delivery of funds to members and employers.
"Our ultimate goal is to institutionalize check-less transactions to
eliminate problems that may occur with sending checks through mail. It
will offer greater convenience for members and employers since they no
longer have to go to a bank to encash or deposit their checks, nor wait
for the required check-clearing period," De Quiros said.
The electronic release of loans and benefits will also address problems
such as delay in delivery of checks, as well as stolen, misdelivered or
return-to-sender checks. Lost checks take up to as much as six months to
replace.
"Disbursing benefit and loan proceeds electronically will help
especially members based in the provinces, since issuance of checks is
centralized at the SSS main office in Quezon City and thus, takes more
time to be delivered to them," de Quiros said.
The state-run institution recently tied up with Citibank for the
electronic release of salary loan proceeds and short-term benefits
through a special cash card for members. SSS and Citibank signed a
memorandum of agreement at the SSS corporate headquarters on June 5.
De Quiros said SSS expects to start issuing the new Citi Prepaid Card
for SSS Salary Loans and Benefits to members within the second half of 2012.
"There will be no additional cost for the use of the card, which is
valid for three years and accepted in automated teller machines and
debit transactions. Cards of OFW-members will be issued only in the
Philippines but they can use them to transact anywhere in the world," he
said.
The Citi Prepaid Card can be used in over 15,000 ATMs under the combined
networks of Bancet, Megalink, Maestro, Cirrus, Mastercard, Visa and
Plus. More than half a million point-of-sale terminals in the
Philippines will also accept transactions using the card.
"For transactions outside the Philippines, our members based overseas
will benefit from Citi's worldwide service since the prepaid card is
recognized by over 30 million merchants and more than 1.5 million ATMs
all over the world," de Quiros said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By CHINO S. LEYCO
June 20, 2012, 4:32pm
MANILA, Philippines --- State-run Social Security System (SSS) said
yesterday that it plans to shift towards the electronic disbursement of
salary loans and short-term benefits from its current system of
releasing them through checks.
Emilio de Quiros Jr., SSS president and chief executive said the pension
fund has started this year its mandatory reimbursement of employees'
sickness and maternity claims through bank accounts of employers all
over the country as initial step.
De Quiros said the move aims to provide more convenience and ensure the
timely delivery of funds to members and employers.
"Our ultimate goal is to institutionalize check-less transactions to
eliminate problems that may occur with sending checks through mail. It
will offer greater convenience for members and employers since they no
longer have to go to a bank to encash or deposit their checks, nor wait
for the required check-clearing period," De Quiros said.
The electronic release of loans and benefits will also address problems
such as delay in delivery of checks, as well as stolen, misdelivered or
return-to-sender checks. Lost checks take up to as much as six months to
replace.
"Disbursing benefit and loan proceeds electronically will help
especially members based in the provinces, since issuance of checks is
centralized at the SSS main office in Quezon City and thus, takes more
time to be delivered to them," de Quiros said.
The state-run institution recently tied up with Citibank for the
electronic release of salary loan proceeds and short-term benefits
through a special cash card for members. SSS and Citibank signed a
memorandum of agreement at the SSS corporate headquarters on June 5.
De Quiros said SSS expects to start issuing the new Citi Prepaid Card
for SSS Salary Loans and Benefits to members within the second half of 2012.
"There will be no additional cost for the use of the card, which is
valid for three years and accepted in automated teller machines and
debit transactions. Cards of OFW-members will be issued only in the
Philippines but they can use them to transact anywhere in the world," he
said.
The Citi Prepaid Card can be used in over 15,000 ATMs under the combined
networks of Bancet, Megalink, Maestro, Cirrus, Mastercard, Visa and
Plus. More than half a million point-of-sale terminals in the
Philippines will also accept transactions using the card.
"For transactions outside the Philippines, our members based overseas
will benefit from Citi's worldwide service since the prepaid card is
recognized by over 30 million merchants and more than 1.5 million ATMs
all over the world," de Quiros said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Wednesday, June 20, 2012
SSS revenue rises 49% to P14B as of April
SSS revenue rises 49% to P14B as of April
By: Ronnel W. Domingo
MANILA, Philippines—The Social Security System posted a net revenue of
P13.96 billion in the four months to April this year, an increase of 49
percent from the P9.37 billion reported in the same period last year.
Emilio de Quiros Jr., SSS president and chief executive, said in a
statement that the increase was due mainly to strong earnings and
"prudent management of expenses."
De Quiros said revenues from January to April went up by 15 percent to
P44.82 billion, including P31.15 billion in earnings from contributions
and P13.67 billion in investment income.
"The growth in revenues far outpaced the 4 percent increase in expenses
for operations and benefits," he said.
"Our operating expenses amounted to only P2.43 billion, which was 5
percent less than the P2.55 billion we spent" in the same period last
year, he added.
Members' contributions, which accounted for more than two-thirds of
total revenues, grew by 9 percent.
De Quiros said this was due to improved collections, particularly those
from priority groups such as overseas Filipino workers and household
helpers, which he said showed double-digit increases to P878.66 million
and P74.21 million, respectively.
Contributions from employees accounted for 85 percent of total
collections, or P26.78 billion, while P1.79 billion came from
self-employed members such as informal-sector workers, farmers and
fisherfolk, and P1.62 billion from voluntary members.
From January to April, the SSS paid out P28.43 billion worth of
benefits, half of which represented retirement claims. The rest covered
death and funeral grants, as well as maternity, disability and sickness
benefits and medical claims.
Further, De Quiros said the SSS earned P13.67 billion from
investments—exceeding the target of P9.35 billion by 4 percent and the
year-ago figure of P10.47 billion by 31 percent.
"A robust stock market boosted equity earnings to a four-month total of
P8.26 billion, or 43 percent more than the P5.76 billion in 2011," De
Quiros said. "Other major investment earners were government securities,
which brought in P3.01 billion, and salary loans with P1.59 billion."
By: Ronnel W. Domingo
MANILA, Philippines—The Social Security System posted a net revenue of
P13.96 billion in the four months to April this year, an increase of 49
percent from the P9.37 billion reported in the same period last year.
Emilio de Quiros Jr., SSS president and chief executive, said in a
statement that the increase was due mainly to strong earnings and
"prudent management of expenses."
De Quiros said revenues from January to April went up by 15 percent to
P44.82 billion, including P31.15 billion in earnings from contributions
and P13.67 billion in investment income.
"The growth in revenues far outpaced the 4 percent increase in expenses
for operations and benefits," he said.
"Our operating expenses amounted to only P2.43 billion, which was 5
percent less than the P2.55 billion we spent" in the same period last
year, he added.
Members' contributions, which accounted for more than two-thirds of
total revenues, grew by 9 percent.
De Quiros said this was due to improved collections, particularly those
from priority groups such as overseas Filipino workers and household
helpers, which he said showed double-digit increases to P878.66 million
and P74.21 million, respectively.
Contributions from employees accounted for 85 percent of total
collections, or P26.78 billion, while P1.79 billion came from
self-employed members such as informal-sector workers, farmers and
fisherfolk, and P1.62 billion from voluntary members.
From January to April, the SSS paid out P28.43 billion worth of
benefits, half of which represented retirement claims. The rest covered
death and funeral grants, as well as maternity, disability and sickness
benefits and medical claims.
Further, De Quiros said the SSS earned P13.67 billion from
investments—exceeding the target of P9.35 billion by 4 percent and the
year-ago figure of P10.47 billion by 31 percent.
"A robust stock market boosted equity earnings to a four-month total of
P8.26 billion, or 43 percent more than the P5.76 billion in 2011," De
Quiros said. "Other major investment earners were government securities,
which brought in P3.01 billion, and salary loans with P1.59 billion."
Monday, June 18, 2012
Precious goat milk goes up the value chain
Precious goat milk goes up the value chain
By: Jo Martinez-Clemente
Inquirer Central Luzon
10:38 pm | Saturday, June 16th, 2012
JSS Farms' milk product.
TARLAC CITY—Goat and sheep growers here are all thinking of "F4."
What is on their minds is not the popular boy band from Taiwan, but the
fourth generation of goats which they started breeding a decade ago—an
enhancement of the native race is how they described it. "F4" refers to
a native goat now carries 93.75 percent of a foreign goat's qualities.
The task of ensuring that superior quality goats are raised for meat and
milk falls on the lap of the Goat and Sheep Producers Association of
Tarlac (Gaspat). The group counts about 1,000 backyard goat raisers and
commercial growers.
For Noel Soliman, recently elected president of Gaspat, the interest in
goats is natural, he being a veterinarian. It was in college where he
learned about genetics and cross breeding in small ruminants like goats
and sheep. He practiced these at his home farm.
Soliman says goats' potential as sources of meat and milk is enormous.
The meat, called chevon, is lean and healthy, while the milk is said to
be second best after mother's milk.
"We need only do practical science to achieve a level where the goat
population can be increased so we can buy goat meat in the market at
competitive prices, the way we buy beef and pork," he says.
To achieve this, Soliman says, there is a need to enhance the quality of
the native goat.
As it is, the native goat is small, stocky and weighs only 20 to 30
kilograms in maturity. The milk it produces is good only for its kids.
However, he says, the best characteristic of a native goat is that it is
more resistant to diseases.
While the introduction of foreign breed in the Philippines started in
the early 1990s through a government program, Soliman says their
initiation into the enhancement program started 11 years ago when Gaspat
members were invited by members of the Australian Trade Mission to
Australia after their visit in Tarlac.
From that trip, Gaspat members were able to buy purebred bucks to start
their enhancement project.
These bucks, among them Anglo-Nubians, Saannen, Boer and Alpine breeds,
grow up to about 70 to 90 kg, producing three times more meat than the
native goat, and up to 2 liters of milk a day.
Soliman says generating the best combination of genetics in the animal
requires time and patience.
From these original imports came the "F4" generation, says Soliman.
What is referred to as "F1," he says, is the offspring of a pure bred
buck and a native doe. An "F1" doe then is paired anew with an imported
buck of the same breed to produce an "F2" and so on.
Soliman says investing in an initial set of five native does and an
imported buck is a good start for backyard goat raisers.
Having a group like Gaspat is also helpful because members can swap or
lend each other their imported breeders. For those who can not have
breeders yet, the Bureau of Animal Industry is providing artificial
insemination services for goat raisers.
JSS Farms' cheese product.
However, Soliman says, backyard goat raisers must veer away from the old
practice of letting their goats fend for themselves in the yard.
It is important that these goats be provided good housing and fed and
grazed properly.
"You'll be surprised that, aside from grass, the most nutritious plants
for goats are in abundance here," he says.
For Jeff Lim of JSS Goat Farms, the interest in goats started when he
scoured Tarlac's remote villages in search of a goat to buy so his
family could cook caldereta to celebrate a birthday. He couldn't find one.
Even if he offered to pay a little more for a mature goat, the raisers
told him tell that their stock had been reserved for a fiesta or some
other occasion, Jeff says.
Jeff realized at the time that goats were scarce and that there was a
market for them.
Soon enough, Jeff started to raise goats.
In the 1990s, he was introduced to imported breeds through the
government's goat dispersal program.
"It was good to go back to the basics," says Jeff, describing goat
raising as an all natural farming.
Common interest and the need to organize brought him, Soliman and other
goat raisers together to form Gaspat.
With a bigger herd now producing more than what kids require, Jeff's
wife Kathryn, who has a degree in chemistry, started experimenting on
the extra milk when a friend came looking for cheese.
The cheese was initially produced for home consumption with some given
out to friends. But the demand started to grow and soon, JSS Farms
expanded, accommodating a small laboratory.
Some of their neighbors later came to them for their supply of goat
milk. Soon, the couple realized that the cheese had a special market.
Today, JSS farms produces cheese and milk sold under the brand "Aussie."
Kathryn says it takes two days to process goat milk into feta cheese,
and each liter of milk produces 180 gram of cheese.
Their product, she says, is certified healthy by the Food and Drug
Administration.
Gaspat members also formed the Global Agriventures Marketing Cooperative
Inc. to maximize their resources. Using the facilities and technical
know-how of JSS Farms, Gaspat members began bringing milk here for
bottling and processing into cheese.
These initiatives of goat raisers and producers of Tarlac did not go
unnoticed among livestock farmers in the country because they visit
Tarlac to look at the farms and products and to learn from their
experiences.
For Soliman and the Lim couple, this is a welcome development because
finally, goat raising as a healthier alternative to food production and
security, has gotten the attention it deserves.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By: Jo Martinez-Clemente
Inquirer Central Luzon
10:38 pm | Saturday, June 16th, 2012
JSS Farms' milk product.
TARLAC CITY—Goat and sheep growers here are all thinking of "F4."
What is on their minds is not the popular boy band from Taiwan, but the
fourth generation of goats which they started breeding a decade ago—an
enhancement of the native race is how they described it. "F4" refers to
a native goat now carries 93.75 percent of a foreign goat's qualities.
The task of ensuring that superior quality goats are raised for meat and
milk falls on the lap of the Goat and Sheep Producers Association of
Tarlac (Gaspat). The group counts about 1,000 backyard goat raisers and
commercial growers.
For Noel Soliman, recently elected president of Gaspat, the interest in
goats is natural, he being a veterinarian. It was in college where he
learned about genetics and cross breeding in small ruminants like goats
and sheep. He practiced these at his home farm.
Soliman says goats' potential as sources of meat and milk is enormous.
The meat, called chevon, is lean and healthy, while the milk is said to
be second best after mother's milk.
"We need only do practical science to achieve a level where the goat
population can be increased so we can buy goat meat in the market at
competitive prices, the way we buy beef and pork," he says.
To achieve this, Soliman says, there is a need to enhance the quality of
the native goat.
As it is, the native goat is small, stocky and weighs only 20 to 30
kilograms in maturity. The milk it produces is good only for its kids.
However, he says, the best characteristic of a native goat is that it is
more resistant to diseases.
While the introduction of foreign breed in the Philippines started in
the early 1990s through a government program, Soliman says their
initiation into the enhancement program started 11 years ago when Gaspat
members were invited by members of the Australian Trade Mission to
Australia after their visit in Tarlac.
From that trip, Gaspat members were able to buy purebred bucks to start
their enhancement project.
These bucks, among them Anglo-Nubians, Saannen, Boer and Alpine breeds,
grow up to about 70 to 90 kg, producing three times more meat than the
native goat, and up to 2 liters of milk a day.
Soliman says generating the best combination of genetics in the animal
requires time and patience.
From these original imports came the "F4" generation, says Soliman.
What is referred to as "F1," he says, is the offspring of a pure bred
buck and a native doe. An "F1" doe then is paired anew with an imported
buck of the same breed to produce an "F2" and so on.
Soliman says investing in an initial set of five native does and an
imported buck is a good start for backyard goat raisers.
Having a group like Gaspat is also helpful because members can swap or
lend each other their imported breeders. For those who can not have
breeders yet, the Bureau of Animal Industry is providing artificial
insemination services for goat raisers.
JSS Farms' cheese product.
However, Soliman says, backyard goat raisers must veer away from the old
practice of letting their goats fend for themselves in the yard.
It is important that these goats be provided good housing and fed and
grazed properly.
"You'll be surprised that, aside from grass, the most nutritious plants
for goats are in abundance here," he says.
For Jeff Lim of JSS Goat Farms, the interest in goats started when he
scoured Tarlac's remote villages in search of a goat to buy so his
family could cook caldereta to celebrate a birthday. He couldn't find one.
Even if he offered to pay a little more for a mature goat, the raisers
told him tell that their stock had been reserved for a fiesta or some
other occasion, Jeff says.
Jeff realized at the time that goats were scarce and that there was a
market for them.
Soon enough, Jeff started to raise goats.
In the 1990s, he was introduced to imported breeds through the
government's goat dispersal program.
"It was good to go back to the basics," says Jeff, describing goat
raising as an all natural farming.
Common interest and the need to organize brought him, Soliman and other
goat raisers together to form Gaspat.
With a bigger herd now producing more than what kids require, Jeff's
wife Kathryn, who has a degree in chemistry, started experimenting on
the extra milk when a friend came looking for cheese.
The cheese was initially produced for home consumption with some given
out to friends. But the demand started to grow and soon, JSS Farms
expanded, accommodating a small laboratory.
Some of their neighbors later came to them for their supply of goat
milk. Soon, the couple realized that the cheese had a special market.
Today, JSS farms produces cheese and milk sold under the brand "Aussie."
Kathryn says it takes two days to process goat milk into feta cheese,
and each liter of milk produces 180 gram of cheese.
Their product, she says, is certified healthy by the Food and Drug
Administration.
Gaspat members also formed the Global Agriventures Marketing Cooperative
Inc. to maximize their resources. Using the facilities and technical
know-how of JSS Farms, Gaspat members began bringing milk here for
bottling and processing into cheese.
These initiatives of goat raisers and producers of Tarlac did not go
unnoticed among livestock farmers in the country because they visit
Tarlac to look at the farms and products and to learn from their
experiences.
For Soliman and the Lim couple, this is a welcome development because
finally, goat raising as a healthier alternative to food production and
security, has gotten the attention it deserves.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Sunday, June 17, 2012
Over P20M allotted for agri-fishery projects in E. Samar, Biliran
Over P20M allotted for agri-fishery projects in E. Samar, Biliran
THE DEPARTMENT of Agriculture (DA) has earmarked over P20 million for
various agri-fishery projects in Eastern Samar and Biliran to help
farmers and fisherfolk in these provinces boost their production.
According to a news release from the DA, Eastern Samar received a total
of P12 million, which was used for projects, farm equipment and other
implements.
Biliran, meanwhile, was awarded P8 million, which the department said
includes P2.8 million from the Bureau of Fisheries and Aquatic Resources
(BFAR) for an aquasilviculture project to be led by the Naval State
University (NSU).
"The BFAR is tapping selected agri-fishery state universities and
colleges to promote aquasilviculture which aims to rehabilitate mangrove
areas and increase the production of marine fish species, including
crabs and other crustaceans," said the DA in a statement.
TRACTORS, THRESHERS, DRYERS
The implements awarded to farmers included hand tractors, rice
threshers, flatbed dryers, multi-purpose drying pavements, seed cleaners
and processing equipment for various crops, among others.
Fishers' groups, meanwhile, received fish cages, fishing gear and
fishery inputs.
Also distributed were rice, corn and vegetable seeds, salt organic
fertilizers and seaweed planting materials, as well as livestock such as
carabaos and sheep.
In a visit to the two provinces in May, Agriculture Secretary Proceso J.
Alcala also committed to provide the farmers in these areas with quality
white corn seeds that include hybrid, OPV (open pollinated variety) and
traditional tiniguib, along with several units of corn mill as white
corn grits are consumed by "a large number" of rural folk as their main
staple.
Mr. Alcala also encouraged coconut farmers in the provinces to intercrop
white corn to diversify their crops and increase their livelihood.
He, likewise, enjoined provincial and local government officials to
enlist Biliran and Eastern Samar under the proposed Central Philippines
Rural Development Program (CPRDP).
Last April, the department said that it was in the process of drafting
the CPRDP, a medium-term poverty-alleviation initiative set to be
implemented in six regions (4A, 4B, 5, 6, 7 and 8) in partnership with
provincial and municipal government units, which it hopes to present to
the World Bank for possible funding of up to $300 million. -- Bettina
Faye V. Roc
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
THE DEPARTMENT of Agriculture (DA) has earmarked over P20 million for
various agri-fishery projects in Eastern Samar and Biliran to help
farmers and fisherfolk in these provinces boost their production.
According to a news release from the DA, Eastern Samar received a total
of P12 million, which was used for projects, farm equipment and other
implements.
Biliran, meanwhile, was awarded P8 million, which the department said
includes P2.8 million from the Bureau of Fisheries and Aquatic Resources
(BFAR) for an aquasilviculture project to be led by the Naval State
University (NSU).
"The BFAR is tapping selected agri-fishery state universities and
colleges to promote aquasilviculture which aims to rehabilitate mangrove
areas and increase the production of marine fish species, including
crabs and other crustaceans," said the DA in a statement.
TRACTORS, THRESHERS, DRYERS
The implements awarded to farmers included hand tractors, rice
threshers, flatbed dryers, multi-purpose drying pavements, seed cleaners
and processing equipment for various crops, among others.
Fishers' groups, meanwhile, received fish cages, fishing gear and
fishery inputs.
Also distributed were rice, corn and vegetable seeds, salt organic
fertilizers and seaweed planting materials, as well as livestock such as
carabaos and sheep.
In a visit to the two provinces in May, Agriculture Secretary Proceso J.
Alcala also committed to provide the farmers in these areas with quality
white corn seeds that include hybrid, OPV (open pollinated variety) and
traditional tiniguib, along with several units of corn mill as white
corn grits are consumed by "a large number" of rural folk as their main
staple.
Mr. Alcala also encouraged coconut farmers in the provinces to intercrop
white corn to diversify their crops and increase their livelihood.
He, likewise, enjoined provincial and local government officials to
enlist Biliran and Eastern Samar under the proposed Central Philippines
Rural Development Program (CPRDP).
Last April, the department said that it was in the process of drafting
the CPRDP, a medium-term poverty-alleviation initiative set to be
implemented in six regions (4A, 4B, 5, 6, 7 and 8) in partnership with
provincial and municipal government units, which it hopes to present to
the World Bank for possible funding of up to $300 million. -- Bettina
Faye V. Roc
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Saturday, June 16, 2012
Project to push mobile phone banking
Project to push mobile phone banking
THE PHILIPPINES and the United States have partnered on a new project to
increase access to financial services among Filipinos through use of
mobile phones.
"President Benigno S.C. Aquino III and US Agency for International
Development (USAID) Administrator Rajiv Shah agreed to implement the
Scaling Innovations in Mobile Money (SIMM) initiative in the
Philippines," said USAID said in a statement yesterday.
The agreement for SIMM was reached during Mr. Aquino's working visit to
the US from June 6 to 8.
"The SIMM project aims to empower Filipinos by providing easier and more
efficient access to banking and payment services through mobile phones,"
Mr. Shah was quoted as saying in the statement.
"It builds upon USAID/Philippines' current work in microfinance and
mobile banking to expand opportunity and financial services through new
technologies."
USAID is financing the Microenterprise Access to Banking Services (MABS)
that is working with rural banks in coming up with new financial
services and products. MABS and the Rural Bankers Association of the
Philippines, which groups some of the country's rural banks, have
utilized mobile phones to reach microfinance clients, who live in
far-flung areas of the country.
"SIMM is a two-year project that started last month and will run until
May 2014," said John Owens, MABS chief of party, in a phone interview
yesterday.
Key areas of the project include the payment system, government
services, and electronic payroll distribution, USAID said.
"Only 26% of Filipinos have access to formal financial channels. Out of
the 1,635 municipalities in the country, 37% or 610 municipalities do
not have access to banks," USAID noted.
The SIMM project will take advantage of mobile phones' high penetration
rate to extend financial services to Filipinos.
Results of the central bank's first Consumer Finance Survey showed only
two out of 10 Filipino households are "banked" or maintain deposit accounts.
"The success of this project will rely heavily on the participation of
the private sector. We will engage with financial institutions, mobile
network operators, small and medium enterprises, learning institutions,
non-government organizations...," said Gloria Steele, USAID Philippines
mission director, in the statement. -- A. R. R. Gregorio
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
THE PHILIPPINES and the United States have partnered on a new project to
increase access to financial services among Filipinos through use of
mobile phones.
"President Benigno S.C. Aquino III and US Agency for International
Development (USAID) Administrator Rajiv Shah agreed to implement the
Scaling Innovations in Mobile Money (SIMM) initiative in the
Philippines," said USAID said in a statement yesterday.
The agreement for SIMM was reached during Mr. Aquino's working visit to
the US from June 6 to 8.
"The SIMM project aims to empower Filipinos by providing easier and more
efficient access to banking and payment services through mobile phones,"
Mr. Shah was quoted as saying in the statement.
"It builds upon USAID/Philippines' current work in microfinance and
mobile banking to expand opportunity and financial services through new
technologies."
USAID is financing the Microenterprise Access to Banking Services (MABS)
that is working with rural banks in coming up with new financial
services and products. MABS and the Rural Bankers Association of the
Philippines, which groups some of the country's rural banks, have
utilized mobile phones to reach microfinance clients, who live in
far-flung areas of the country.
"SIMM is a two-year project that started last month and will run until
May 2014," said John Owens, MABS chief of party, in a phone interview
yesterday.
Key areas of the project include the payment system, government
services, and electronic payroll distribution, USAID said.
"Only 26% of Filipinos have access to formal financial channels. Out of
the 1,635 municipalities in the country, 37% or 610 municipalities do
not have access to banks," USAID noted.
The SIMM project will take advantage of mobile phones' high penetration
rate to extend financial services to Filipinos.
Results of the central bank's first Consumer Finance Survey showed only
two out of 10 Filipino households are "banked" or maintain deposit accounts.
"The success of this project will rely heavily on the participation of
the private sector. We will engage with financial institutions, mobile
network operators, small and medium enterprises, learning institutions,
non-government organizations...," said Gloria Steele, USAID Philippines
mission director, in the statement. -- A. R. R. Gregorio
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Thursday, June 14, 2012
The Binalot story all wrapped up
The Binalot story all wrapped up
By Nathalie M. Tomada (The Philippine Star) Updated June 10, 2012 12:00
AM Comments (0)
The president of Binalot Fiesta Foods, Inc., the innovative food
business that serves Filipino dishes wrapped in banana leaves, is
teaching his three girls – aged 11, eight and five – that there are many
ways of handling money rather than just spending it.
This is apart from making them open bank accounts, encouraging
entrepreneurial habits by letting them participate in a Kiddopreneur
Bazaar and exposing them to the work that he loves.
"You have to start them young," is his advice to parents when it comes
to cultivating financial literacy and nurturing the entrepreneurial
spirit among children.
Rommel is just employing the things he learned when he was growing up.
After all, if not for his childhood training, he wouldn't have built
Binalot, which now has 41 branches in Metro Manila and some key areas in
Luzon.
"I come from a very entrepreneurial family. Our family business is
actually automotive. My dad would expose us to the business at a very
young age. He would bring us to banks when he had appointments. We would
just be there beside him, observing how he would talk to the people from
the banks, or how he would talk with the customers. This was when we
were around seven or eight years old and well into our teens. Those were
our bonding sessions with our father," Rommel, whose father is into
manufacturing wrangler-type jeeps while his mother runs a school in
Malabon, tells STARweek.
"My dad never showed us na mahirap magtrabaho. Ang daddy ko, never ko
narining mahirap magtrabaho. Enjoy siya, he likes what he is doing, and
it rubbed off on me. Since I opened Binalot, I've been enjoying it ever
since," Rommel adds.
"It was very normal for us to (go into) business. My dad really
encouraged it. It was not classroom teaching; it was just exposure. It
was really the training."
When his father would arrive home from trips overseas, he would buy them
toys, but out of the 10 pieces, Rommel would be instructed to get only
one for himself, and to sell the rest.
Since Rommel's classes were in the afternoon, he would be in school
during the morning session just so he could sell the stuff.
"But I realized it wasn't the money that was motivating me. It was the
interaction. I enjoyed selling. I enjoyed talking to the customers. I
liked selling to kids who were older than me," he shares.
In college, he and his older brother dabbled in other entrepreneurial
pursuits, including a t-shirt selling and printing business, coming up
with prints like "I Survived the Coup D' Etat" (this was during the Cory
Aquino presidency) which became a hit in other universities and with
orders even coming all the way from Cebu.
After graduating from De La Salle University with a marketing management
degree, upon the suggestion of his father, he worked in the car industry
to gain experience. From his first job, he also developed discipline as
he had Japanese bosses.
After a couple of years, he returned to the family business. But with
his father's business already doing very well and with everything in
place, he found himself with a lot of free time on his hands, so what to do?
He suggested to his like-minded older brother that they venture into the
food business. "When we were kids, we had a little farm in Cavite, and
we got the idea from my mom – binabalot niya ang pagkain namin ng dahon
ng saging (she wrapped our food in banana leaves). So Binalot was
inspired by nostalgic childhood memories."
With a capital of P50,000, they started in Makati in 1996 – a "guerilla
operation" where they simply distributed flyers, and people would order.
Then they opened their first outlet on Jupiter street, offering delivery
service.
The business turned out to be a success, with Binalot selling 500 meals
per day.
However, the 1997 Asian financial crisis came crashing in, and their
business was not spared.
When they were on the verge of closing shop, an offer for a food court
space came from Shangri-La Plaza.
"I thought, let's go for gold, if it works out, then good; if not, then
we will close." It worked.
From that food court space, they were emboldened to branch out into
other malls.
In 2004, Binalot finally began franchising. This was when the business
really started to flourish, with the "food court phase" transitioning to
the "full-dining set-up."
Binalot now boasts of 41 branches, selling an average of 200 meals a day
per store – and counting.
"Organically, we are growing," he says. "We opened in the provinces
already. What we are trying to do right now is to sell more provincial
franchises. We are granting area franchises now with a minimum of three
stores. We also have a company supervising scheme which is best for
OFWs. You invest your money, and we will manage the stores for them. In
terms of franchise package, I think we have one of the most affordable
franchises in the industry, with an all-in package ranging from P2
million to P2.5 million, inclusive of franchise fee, construction,
training, manuals, use of materials, etc."
But what Rommel is particularly proud of are the advocacies of Binalot.
In 2006, when typhoon "Milenyo" struck the country, their supply of
banana leaves in Luzon got wiped out. "That's when we went straight to
the source, the farmers, and we found them in Nagcarlan, Laguna."
Binalot organized a community there, and right now, around 30 families
are supported by their project.
"We realized that even if you're a small company, you can still have
corporate social responsibility. You can help others, and it's also
helping your business," he says.
With that, Binalot has become a poster child for the Small Medium
Enterprise Corporate Social Responsibility (SME-CSR), receiving national
and international recognition from the UPS Global Small Business
contest, Entrepreneur Magazine, Anvil Awards, Bid Challenge Philippines
and the Asian Forum on Corporate Social Responsibility last year.
Binalot is steadily increasing its CSR, which is closely tied up with
where the company is expanding. They have projects in Zambales with an
Aeta community and also with a women's group in Legazpi, Albay.
Environment is another strong advocacy. In 2009, when "Ondoy" devastated
the country, they realized, after serving hot meals to the typhoon
victims, that they have to consciously promote biodegradable packaging
and to imbibe other green practices in the way they run their business.
Of course, Binalot has long been a step ahead by packaging their food in
banana leaves and not in plastic or non-biodegradable containers.
This is not entirely unique to the Philippines, as people in Thailand,
Malaysia and Indonesia also pack some of their foods with banana leaves,
but it is only in the Philippines that it is done fastfood-style. Rommel
is proud to have introduced a food business that has created an
atmosphere that makes any diner truly feel that he is eating in the
Philippines.
"I think we should be proud of this legacy (wrapping food in banana
leaves). It's fresh, it's eco-friendly, and do you know that banana
leaves have anti-bacterial properties? That's why some disinfectants
have banana fibers. So, food is more fresh when they are wrapped in
banana leaves," Rommel says.
When asked for tips for budding entrepreneurs, he shares, "I always say
that a good decision done quickly is better than a great decision done
slowly. Meaning to say, if the idea is good enough, try it out already.
Don't wait anymore, kasi minsan 'pag analysis parati, yun yung problema.
Work with the resources you have. Huwag kang sumugal ng di mo kaya."
Rommel says that he is grateful for all the challenges that were thrown
his way, otherwise he wouldn't have the opportunities to better his
business.
"With the financial crisis, we were able to enter the food court.
Because of Milenyo, we were able to establish our communities. Because
of Ondoy, we realized we had to promote the environment. With Binalot, I
realized that what doesn't kill you makes you stronger – really. Trials
and challenges, you really just have to learn from them."
Passionate as he is about business, Rommel realizes business should not
consume all of one's time, one's life. For him, his family takes
priority. When he brings his kids to work, it's not just the early
training he's after, but also the father-and-child bonding that it
affords, just like what his parents did with him.
"Business is like a rubber ball," he muses. "If it falls, it bounces
back. But family is really more important. It's like a crystal ball, if
it falls, it breaks apart. So what I'm saying is, business should be a
tool to improve family life and the community."
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By Nathalie M. Tomada (The Philippine Star) Updated June 10, 2012 12:00
AM Comments (0)
The president of Binalot Fiesta Foods, Inc., the innovative food
business that serves Filipino dishes wrapped in banana leaves, is
teaching his three girls – aged 11, eight and five – that there are many
ways of handling money rather than just spending it.
This is apart from making them open bank accounts, encouraging
entrepreneurial habits by letting them participate in a Kiddopreneur
Bazaar and exposing them to the work that he loves.
"You have to start them young," is his advice to parents when it comes
to cultivating financial literacy and nurturing the entrepreneurial
spirit among children.
Rommel is just employing the things he learned when he was growing up.
After all, if not for his childhood training, he wouldn't have built
Binalot, which now has 41 branches in Metro Manila and some key areas in
Luzon.
"I come from a very entrepreneurial family. Our family business is
actually automotive. My dad would expose us to the business at a very
young age. He would bring us to banks when he had appointments. We would
just be there beside him, observing how he would talk to the people from
the banks, or how he would talk with the customers. This was when we
were around seven or eight years old and well into our teens. Those were
our bonding sessions with our father," Rommel, whose father is into
manufacturing wrangler-type jeeps while his mother runs a school in
Malabon, tells STARweek.
"My dad never showed us na mahirap magtrabaho. Ang daddy ko, never ko
narining mahirap magtrabaho. Enjoy siya, he likes what he is doing, and
it rubbed off on me. Since I opened Binalot, I've been enjoying it ever
since," Rommel adds.
"It was very normal for us to (go into) business. My dad really
encouraged it. It was not classroom teaching; it was just exposure. It
was really the training."
When his father would arrive home from trips overseas, he would buy them
toys, but out of the 10 pieces, Rommel would be instructed to get only
one for himself, and to sell the rest.
Since Rommel's classes were in the afternoon, he would be in school
during the morning session just so he could sell the stuff.
"But I realized it wasn't the money that was motivating me. It was the
interaction. I enjoyed selling. I enjoyed talking to the customers. I
liked selling to kids who were older than me," he shares.
In college, he and his older brother dabbled in other entrepreneurial
pursuits, including a t-shirt selling and printing business, coming up
with prints like "I Survived the Coup D' Etat" (this was during the Cory
Aquino presidency) which became a hit in other universities and with
orders even coming all the way from Cebu.
After graduating from De La Salle University with a marketing management
degree, upon the suggestion of his father, he worked in the car industry
to gain experience. From his first job, he also developed discipline as
he had Japanese bosses.
After a couple of years, he returned to the family business. But with
his father's business already doing very well and with everything in
place, he found himself with a lot of free time on his hands, so what to do?
He suggested to his like-minded older brother that they venture into the
food business. "When we were kids, we had a little farm in Cavite, and
we got the idea from my mom – binabalot niya ang pagkain namin ng dahon
ng saging (she wrapped our food in banana leaves). So Binalot was
inspired by nostalgic childhood memories."
With a capital of P50,000, they started in Makati in 1996 – a "guerilla
operation" where they simply distributed flyers, and people would order.
Then they opened their first outlet on Jupiter street, offering delivery
service.
The business turned out to be a success, with Binalot selling 500 meals
per day.
However, the 1997 Asian financial crisis came crashing in, and their
business was not spared.
When they were on the verge of closing shop, an offer for a food court
space came from Shangri-La Plaza.
"I thought, let's go for gold, if it works out, then good; if not, then
we will close." It worked.
From that food court space, they were emboldened to branch out into
other malls.
In 2004, Binalot finally began franchising. This was when the business
really started to flourish, with the "food court phase" transitioning to
the "full-dining set-up."
Binalot now boasts of 41 branches, selling an average of 200 meals a day
per store – and counting.
"Organically, we are growing," he says. "We opened in the provinces
already. What we are trying to do right now is to sell more provincial
franchises. We are granting area franchises now with a minimum of three
stores. We also have a company supervising scheme which is best for
OFWs. You invest your money, and we will manage the stores for them. In
terms of franchise package, I think we have one of the most affordable
franchises in the industry, with an all-in package ranging from P2
million to P2.5 million, inclusive of franchise fee, construction,
training, manuals, use of materials, etc."
But what Rommel is particularly proud of are the advocacies of Binalot.
In 2006, when typhoon "Milenyo" struck the country, their supply of
banana leaves in Luzon got wiped out. "That's when we went straight to
the source, the farmers, and we found them in Nagcarlan, Laguna."
Binalot organized a community there, and right now, around 30 families
are supported by their project.
"We realized that even if you're a small company, you can still have
corporate social responsibility. You can help others, and it's also
helping your business," he says.
With that, Binalot has become a poster child for the Small Medium
Enterprise Corporate Social Responsibility (SME-CSR), receiving national
and international recognition from the UPS Global Small Business
contest, Entrepreneur Magazine, Anvil Awards, Bid Challenge Philippines
and the Asian Forum on Corporate Social Responsibility last year.
Binalot is steadily increasing its CSR, which is closely tied up with
where the company is expanding. They have projects in Zambales with an
Aeta community and also with a women's group in Legazpi, Albay.
Environment is another strong advocacy. In 2009, when "Ondoy" devastated
the country, they realized, after serving hot meals to the typhoon
victims, that they have to consciously promote biodegradable packaging
and to imbibe other green practices in the way they run their business.
Of course, Binalot has long been a step ahead by packaging their food in
banana leaves and not in plastic or non-biodegradable containers.
This is not entirely unique to the Philippines, as people in Thailand,
Malaysia and Indonesia also pack some of their foods with banana leaves,
but it is only in the Philippines that it is done fastfood-style. Rommel
is proud to have introduced a food business that has created an
atmosphere that makes any diner truly feel that he is eating in the
Philippines.
"I think we should be proud of this legacy (wrapping food in banana
leaves). It's fresh, it's eco-friendly, and do you know that banana
leaves have anti-bacterial properties? That's why some disinfectants
have banana fibers. So, food is more fresh when they are wrapped in
banana leaves," Rommel says.
When asked for tips for budding entrepreneurs, he shares, "I always say
that a good decision done quickly is better than a great decision done
slowly. Meaning to say, if the idea is good enough, try it out already.
Don't wait anymore, kasi minsan 'pag analysis parati, yun yung problema.
Work with the resources you have. Huwag kang sumugal ng di mo kaya."
Rommel says that he is grateful for all the challenges that were thrown
his way, otherwise he wouldn't have the opportunities to better his
business.
"With the financial crisis, we were able to enter the food court.
Because of Milenyo, we were able to establish our communities. Because
of Ondoy, we realized we had to promote the environment. With Binalot, I
realized that what doesn't kill you makes you stronger – really. Trials
and challenges, you really just have to learn from them."
Passionate as he is about business, Rommel realizes business should not
consume all of one's time, one's life. For him, his family takes
priority. When he brings his kids to work, it's not just the early
training he's after, but also the father-and-child bonding that it
affords, just like what his parents did with him.
"Business is like a rubber ball," he muses. "If it falls, it bounces
back. But family is really more important. It's like a crystal ball, if
it falls, it breaks apart. So what I'm saying is, business should be a
tool to improve family life and the community."
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Financial inclusion
Financial inclusion
DEVELOPING COUNTRIES, including the Philippines, are taking the
necessary measures to incorporate financial inclusion in their economic
development efforts. In fact, the government's economic managers believe
extending the reach of the financial system to those who are "unbanked"
is one of the key elements in attaining "inclusive growth."
"The year 2011 was characterized by the mainstreaming of financial
inclusion in the domestic and international policy agendas, in light of
growing recognition of the importance of financial inclusion as a policy
objective," the Bangko Sentral ng Pilipinas (BSP) said in its yearend
report titled "BSP Microfinance Initiatives."
The 2010 Millennium Development Goals Summit defined financial inclusion
as "universal access, at reasonable cost, to a wide range of financial
services for everyone needing them, provided by a diversity of sound and
sustainable institutions" This includes the access of disadvantaged or
low-income sectors of the economy to financial services.
In a study, titled "Microfinance, Financial Inclusion and Financial
Development: An Empirical Investigation with an International
Perspective," Jovi Dacanay, Bienvenido Nito and Patricia Buensucesos
said: "Financial inclusion is important in building economies. A more
inclusive financial system is said to be beneficial because of the
number of good effects it has both on the microeconomic and
macroeconomic levels."
"[F]inancial inclusion brings about economic efficiency and
distributional equity as it extends deposit services to a larger number
of people and enables fruits of economic development to be shared by
everyone, respectively," the study said.
The Philippines, however, is still far from achieving universal access
to financial institutions. BSP Governor Amando M. Tetangco, Jr., in a
keynote speech for the session on financial stability and financial
inclusion of the 2012 Financial Sector Forum last Feb. 7, said only 26%
of the country's adult population use banking services while 37% of
municipalities still do not have banking offices.
Meanwhile, 8 out of 10 families are "unbanked" or not part of the formal
financial system, data from the BSP's Consumer Finance Survey showed.
BSP Deputy Governor Nestor A. Espenilla, Jr. said that in response to
the needs of the market: "[W]e have liberalized [the] branching policy
and allowed so-called 'micro banking offices (MBO)' which are really
light branches to cater to the unique needs of microfinance clients and
overseas Filipinos including their beneficiaries."
As of end-2011, 110 banks have sought permits for the establishment of
micro-banking offices. These cover 750 MBOs.
"We are encouraging banks to develop various e-banking platforms,
through strategic partnerships with other allied service providers like
telecommunication companies for mobile banking, to further expand access
to financial services in remote rural areas," the BSP official added.
These efforts are on top of the BSP's financial literacy campaigns and
the establishment of microfinance programs for livelihood projects.
Emmanuel A. Leyco, president of Credit Rating and Investors Services
Philippines, Inc., said tapping the "unbanked" would remain a challenge
as the cost of banking in the Philippines is expensive, while the number
of Filipinos with the ability to save are limited.
"To encourage more savings, maybe they can look at lowering the
transaction cost for the banking industry… [Also], you cannot expect the
lower income [bracket] to save … because they have nothing to save."
Annual earnings of families in the bottom 30% income group averaged at
P62,000 in 2009, data from the Family Income and Expenditure Survey
showed. Meanwhile, their average annual expenses stood at P64,000, which
means poor families spend more than what they earn. — Karen Joyce Q. Ang
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
DEVELOPING COUNTRIES, including the Philippines, are taking the
necessary measures to incorporate financial inclusion in their economic
development efforts. In fact, the government's economic managers believe
extending the reach of the financial system to those who are "unbanked"
is one of the key elements in attaining "inclusive growth."
"The year 2011 was characterized by the mainstreaming of financial
inclusion in the domestic and international policy agendas, in light of
growing recognition of the importance of financial inclusion as a policy
objective," the Bangko Sentral ng Pilipinas (BSP) said in its yearend
report titled "BSP Microfinance Initiatives."
The 2010 Millennium Development Goals Summit defined financial inclusion
as "universal access, at reasonable cost, to a wide range of financial
services for everyone needing them, provided by a diversity of sound and
sustainable institutions" This includes the access of disadvantaged or
low-income sectors of the economy to financial services.
In a study, titled "Microfinance, Financial Inclusion and Financial
Development: An Empirical Investigation with an International
Perspective," Jovi Dacanay, Bienvenido Nito and Patricia Buensucesos
said: "Financial inclusion is important in building economies. A more
inclusive financial system is said to be beneficial because of the
number of good effects it has both on the microeconomic and
macroeconomic levels."
"[F]inancial inclusion brings about economic efficiency and
distributional equity as it extends deposit services to a larger number
of people and enables fruits of economic development to be shared by
everyone, respectively," the study said.
The Philippines, however, is still far from achieving universal access
to financial institutions. BSP Governor Amando M. Tetangco, Jr., in a
keynote speech for the session on financial stability and financial
inclusion of the 2012 Financial Sector Forum last Feb. 7, said only 26%
of the country's adult population use banking services while 37% of
municipalities still do not have banking offices.
Meanwhile, 8 out of 10 families are "unbanked" or not part of the formal
financial system, data from the BSP's Consumer Finance Survey showed.
BSP Deputy Governor Nestor A. Espenilla, Jr. said that in response to
the needs of the market: "[W]e have liberalized [the] branching policy
and allowed so-called 'micro banking offices (MBO)' which are really
light branches to cater to the unique needs of microfinance clients and
overseas Filipinos including their beneficiaries."
As of end-2011, 110 banks have sought permits for the establishment of
micro-banking offices. These cover 750 MBOs.
"We are encouraging banks to develop various e-banking platforms,
through strategic partnerships with other allied service providers like
telecommunication companies for mobile banking, to further expand access
to financial services in remote rural areas," the BSP official added.
These efforts are on top of the BSP's financial literacy campaigns and
the establishment of microfinance programs for livelihood projects.
Emmanuel A. Leyco, president of Credit Rating and Investors Services
Philippines, Inc., said tapping the "unbanked" would remain a challenge
as the cost of banking in the Philippines is expensive, while the number
of Filipinos with the ability to save are limited.
"To encourage more savings, maybe they can look at lowering the
transaction cost for the banking industry… [Also], you cannot expect the
lower income [bracket] to save … because they have nothing to save."
Annual earnings of families in the bottom 30% income group averaged at
P62,000 in 2009, data from the Family Income and Expenditure Survey
showed. Meanwhile, their average annual expenses stood at P64,000, which
means poor families spend more than what they earn. — Karen Joyce Q. Ang
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
World Vision microfinance arm refocuses on Africa and Asia
World Vision microfinance arm refocuses on Africa and Asia
Governance | Tania Mason | 14 Jun 2012
The microfinance arm of World Vision is to refocus its efforts away from
Eastern Europe and the Middle East in favour of Asia and Africa, as it
has identified that it can help up to 30 times more children in those
areas for the same money.
David Knights, VisionFund's global director of marketing and
fundraising, said Africa and Asia are "where the need is greatest and
where we can have the greatest impact in improving the lives of children
trapped in poverty".
While the organisation currently impacts on the lives of just over two
million children globally each year, by the end of 2014 it aims to
increase this figure to 3.5 million.
Of VisionFund's worldwide portfolio of over $380m, the Middle East
currently holds almost two-thirds, with $218.4m of finance. Asia is the
next largest financed region with $104.8m, while Africa trails behind
with just $41m. Latin America has a portfolio worth $87.6m.
Knights told civilsociety.co.uk that by the end of VisionFund's new
three-year strategy – it is currently in year one – it will have moved
its focus entirely away from Eastern Europe and the Middle East, by
finding outside investors to take over its work there.
"We did some analysis to assess what the need was, to establish how many
children we could help for every $1,000 that we put in. It's a bit of a
crude measure, but it works," he said.
"We realised that for that $1,000 we could help 31 children in Africa,
whereas in the Middle East and Eastern Europe we could only help one child."
Knights said that the microfinance institutions (MFIs) that VisionFund
channels money through in Europe and the Middle East had grown to be
robust organisations of a significant size capable of being sustained by
outside investors.
"Others will buy out our shares in those organisations and we can use
that money to reinvest in Africa and Asia," he said.
VisionFund conducts its own fundraising and also receives funds raised
for microfinance projects by World Vision. For each dollar raised
VisionFund is able to borrow debt against it equivalent to $4.
Knights acknowledged that the microfinance sector has come in for some
bad publicity in recent years, with critics claiming that some MFIs are
simply making a quick buck out of giving loans to poor families. But he
defended VisionFund's work as highly effective, saying: "What makes us
different is that we are able to work alongside World Vision which
provides healthcare, clean water and sanitation, while we provide the
wherewithal to create economic growth. When you have those two together
it's a much stronger proposition."
The new strategy will also see the organisation "taking a lead" on
social impact and transparency reporting but Knights denied that the new
geographical focus was driven by the increasing imperative to
demonstrate evidence of impact to funders.
"If anything, reporting out of the Middle East and Eastern Europe is
much easier than out of Africa," Knights said. "We are making it harder
for ourselves."
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Governance | Tania Mason | 14 Jun 2012
The microfinance arm of World Vision is to refocus its efforts away from
Eastern Europe and the Middle East in favour of Asia and Africa, as it
has identified that it can help up to 30 times more children in those
areas for the same money.
David Knights, VisionFund's global director of marketing and
fundraising, said Africa and Asia are "where the need is greatest and
where we can have the greatest impact in improving the lives of children
trapped in poverty".
While the organisation currently impacts on the lives of just over two
million children globally each year, by the end of 2014 it aims to
increase this figure to 3.5 million.
Of VisionFund's worldwide portfolio of over $380m, the Middle East
currently holds almost two-thirds, with $218.4m of finance. Asia is the
next largest financed region with $104.8m, while Africa trails behind
with just $41m. Latin America has a portfolio worth $87.6m.
Knights told civilsociety.co.uk that by the end of VisionFund's new
three-year strategy – it is currently in year one – it will have moved
its focus entirely away from Eastern Europe and the Middle East, by
finding outside investors to take over its work there.
"We did some analysis to assess what the need was, to establish how many
children we could help for every $1,000 that we put in. It's a bit of a
crude measure, but it works," he said.
"We realised that for that $1,000 we could help 31 children in Africa,
whereas in the Middle East and Eastern Europe we could only help one child."
Knights said that the microfinance institutions (MFIs) that VisionFund
channels money through in Europe and the Middle East had grown to be
robust organisations of a significant size capable of being sustained by
outside investors.
"Others will buy out our shares in those organisations and we can use
that money to reinvest in Africa and Asia," he said.
VisionFund conducts its own fundraising and also receives funds raised
for microfinance projects by World Vision. For each dollar raised
VisionFund is able to borrow debt against it equivalent to $4.
Knights acknowledged that the microfinance sector has come in for some
bad publicity in recent years, with critics claiming that some MFIs are
simply making a quick buck out of giving loans to poor families. But he
defended VisionFund's work as highly effective, saying: "What makes us
different is that we are able to work alongside World Vision which
provides healthcare, clean water and sanitation, while we provide the
wherewithal to create economic growth. When you have those two together
it's a much stronger proposition."
The new strategy will also see the organisation "taking a lead" on
social impact and transparency reporting but Knights denied that the new
geographical focus was driven by the increasing imperative to
demonstrate evidence of impact to funders.
"If anything, reporting out of the Middle East and Eastern Europe is
much easier than out of Africa," Knights said. "We are making it harder
for ourselves."
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Phl has best microfinance framework
Phl has best microfinance framework
By Ted P. Torres (The Philippine Star) Updated June 10, 2012 12:00 AM
Comments (0)
Manila, Philippines - The Philippines has the best policy and regulatory
framework for microfinance in the world, according to the Economic
Intelligence Unit (EIU).
The EIU is a global consultancy and research outfit that helps business
leaders prepare for opportunity, empowering them to act with confidence
when making strategic decisions.
Bangko Sentral ng Pilipinas (BSP) Monetary Board member Ignacio R. Bunye
said one of the key reasons for the distinction is the existence of a
regulator that issues supportive and enabling policy as well as capacity
building regulations.
"Our main approach as been, and will continue to be, to facilitate the
delivery of commercially sustainable microfinance products and
services," Bunye said during awarding ceremonies of the Rural Bankers
Association of the Philippines – Microenterprise Access to Banking
Services (RBAP-MABS) program.
A few years back, the BSP was recognized as the only central bank that
was encouraging the practice of microfinance to the private sector.
Bunye said the BSP studied microfinance extensively, resulting in
regulations and best practices such as using group support or liability
arrangements, cash flow-based lending, and high frequency amortization.
The BSP relaxed some regulations regarding branching for rural banks
practicing microfinance. That included the establishment of
micro-banking offices (MBOs).
Due to its positive attitude towards microfinance, the BSP held talks
and discussions with the private sector for the type of regulations
needed to boost the sector.
At the same time, the regulator instituted prudent standards for the
conduct of microfinance operations by prescribing the use of
portfolio-at-risk to monitor and measure portfolio quality, in the
context of risk-based supervision.
"This approach has allowed bank supervisors to fully understand the risk
profile of microfinance," Bunye added.
He pointed out that from the crude micro-loans, microfinance advocates
from the public and private sectors created such schemes as
micro-deposits, microinsurance, micro-agriculture, housing microfinance
and microfinance plus.
From transactions that required the personal presence of the
microborrower in bank branches, micro transactions can now be done
through short message system or text messaging.
Last data indicate that there are four million families that have been
responsible for making microloans reach P41 billion.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By Ted P. Torres (The Philippine Star) Updated June 10, 2012 12:00 AM
Comments (0)
Manila, Philippines - The Philippines has the best policy and regulatory
framework for microfinance in the world, according to the Economic
Intelligence Unit (EIU).
The EIU is a global consultancy and research outfit that helps business
leaders prepare for opportunity, empowering them to act with confidence
when making strategic decisions.
Bangko Sentral ng Pilipinas (BSP) Monetary Board member Ignacio R. Bunye
said one of the key reasons for the distinction is the existence of a
regulator that issues supportive and enabling policy as well as capacity
building regulations.
"Our main approach as been, and will continue to be, to facilitate the
delivery of commercially sustainable microfinance products and
services," Bunye said during awarding ceremonies of the Rural Bankers
Association of the Philippines – Microenterprise Access to Banking
Services (RBAP-MABS) program.
A few years back, the BSP was recognized as the only central bank that
was encouraging the practice of microfinance to the private sector.
Bunye said the BSP studied microfinance extensively, resulting in
regulations and best practices such as using group support or liability
arrangements, cash flow-based lending, and high frequency amortization.
The BSP relaxed some regulations regarding branching for rural banks
practicing microfinance. That included the establishment of
micro-banking offices (MBOs).
Due to its positive attitude towards microfinance, the BSP held talks
and discussions with the private sector for the type of regulations
needed to boost the sector.
At the same time, the regulator instituted prudent standards for the
conduct of microfinance operations by prescribing the use of
portfolio-at-risk to monitor and measure portfolio quality, in the
context of risk-based supervision.
"This approach has allowed bank supervisors to fully understand the risk
profile of microfinance," Bunye added.
He pointed out that from the crude micro-loans, microfinance advocates
from the public and private sectors created such schemes as
micro-deposits, microinsurance, micro-agriculture, housing microfinance
and microfinance plus.
From transactions that required the personal presence of the
microborrower in bank branches, micro transactions can now be done
through short message system or text messaging.
Last data indicate that there are four million families that have been
responsible for making microloans reach P41 billion.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Sunday, June 10, 2012
Phl has best microfinance framework
Phl has best microfinance framework
By Ted P. Torres (The Philippine Star) Updated June 10, 2012 12:00 AM
Comments (0)
Manila, Philippines - The Philippines has the best policy and regulatory
framework for microfinance in the world, according to the Economic
Intelligence Unit (EIU).
The EIU is a global consultancy and research outfit that helps business
leaders prepare for opportunity, empowering them to act with confidence
when making strategic decisions.
Bangko Sentral ng Pilipinas (BSP) Monetary Board member Ignacio R. Bunye
said one of the key reasons for the distinction is the existence of a
regulator that issues supportive and enabling policy as well as capacity
building regulations.
"Our main approach as been, and will continue to be, to facilitate the
delivery of commercially sustainable microfinance products and
services," Bunye said during awarding ceremonies of the Rural Bankers
Association of the Philippines – Microenterprise Access to Banking
Services (RBAP-MABS) program.
A few years back, the BSP was recognized as the only central bank that
was encouraging the practice of microfinance to the private sector.
Bunye said the BSP studied microfinance extensively, resulting in
regulations and best practices such as using group support or liability
arrangements, cash flow-based lending, and high frequency amortization.
The BSP relaxed some regulations regarding branching for rural banks
practicing microfinance. That included the establishment of
micro-banking offices (MBOs).
Due to its positive attitude towards microfinance, the BSP held talks
and discussions with the private sector for the type of regulations
needed to boost the sector.
At the same time, the regulator instituted prudent standards for the
conduct of microfinance operations by prescribing the use of
portfolio-at-risk to monitor and measure portfolio quality, in the
context of risk-based supervision.
"This approach has allowed bank supervisors to fully understand the risk
profile of microfinance," Bunye added.
He pointed out that from the crude micro-loans, microfinance advocates
from the public and private sectors created such schemes as
micro-deposits, microinsurance, micro-agriculture, housing microfinance
and microfinance plus.
From transactions that required the personal presence of the
microborrower in bank branches, micro transactions can now be done
through short message system or text messaging.
Last data indicate that there are four million families that have been
responsible for making microloans reach P41 billion.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By Ted P. Torres (The Philippine Star) Updated June 10, 2012 12:00 AM
Comments (0)
Manila, Philippines - The Philippines has the best policy and regulatory
framework for microfinance in the world, according to the Economic
Intelligence Unit (EIU).
The EIU is a global consultancy and research outfit that helps business
leaders prepare for opportunity, empowering them to act with confidence
when making strategic decisions.
Bangko Sentral ng Pilipinas (BSP) Monetary Board member Ignacio R. Bunye
said one of the key reasons for the distinction is the existence of a
regulator that issues supportive and enabling policy as well as capacity
building regulations.
"Our main approach as been, and will continue to be, to facilitate the
delivery of commercially sustainable microfinance products and
services," Bunye said during awarding ceremonies of the Rural Bankers
Association of the Philippines – Microenterprise Access to Banking
Services (RBAP-MABS) program.
A few years back, the BSP was recognized as the only central bank that
was encouraging the practice of microfinance to the private sector.
Bunye said the BSP studied microfinance extensively, resulting in
regulations and best practices such as using group support or liability
arrangements, cash flow-based lending, and high frequency amortization.
The BSP relaxed some regulations regarding branching for rural banks
practicing microfinance. That included the establishment of
micro-banking offices (MBOs).
Due to its positive attitude towards microfinance, the BSP held talks
and discussions with the private sector for the type of regulations
needed to boost the sector.
At the same time, the regulator instituted prudent standards for the
conduct of microfinance operations by prescribing the use of
portfolio-at-risk to monitor and measure portfolio quality, in the
context of risk-based supervision.
"This approach has allowed bank supervisors to fully understand the risk
profile of microfinance," Bunye added.
He pointed out that from the crude micro-loans, microfinance advocates
from the public and private sectors created such schemes as
micro-deposits, microinsurance, micro-agriculture, housing microfinance
and microfinance plus.
From transactions that required the personal presence of the
microborrower in bank branches, micro transactions can now be done
through short message system or text messaging.
Last data indicate that there are four million families that have been
responsible for making microloans reach P41 billion.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Women and the economic miracle called the sari-sari store
Women and the economic miracle called the sari-sari store
Published : Sunday, June 10, 2012 00:00 Article Views : 535 Written by :
Lea Manto-Beltran, Staff Writer
Teresita Antonio makes 4000 a day from her sari-sari store
IN 1984, Nellie Cornel opened her sari-sari store with a start-up
capital of P800—an amount she was able to save from the P280-salary her
husband turned over every month.
With some iron sheets and light materials, the sari-sari store opened in
front of the family's humble home. It catered to small community in
Puerto Princesa from 3 in the morning, all the way to 12 midnight each
day. Nellie and her husband took turns manning the small the business,
clocking in long hours while taking care of three children—Nellie even
pregnant with the fourth—at that time.
Today, the sari-sari store has turned into a mini-grocery, situated on
the ground floor of the Cornels' four-storey building.
Asked how she was able to turn such a small venture into a successful
livelihood, Nellie replied that it all boils down to her "principle of
being simple."
She believes people do not need a lot of things in life to live
comfortably. Her mantra is to live
by the basics and avoid buying unnecessary luxuries. True enough, from
the earnings of their store, she has since been able to send all her
seven children to school.
Nellie is just one of the estimated 800,000 owners of sari-sari stores,
or retail stores, around the country. The majority of which is owned and
operated by women.
"Women entrepreneurs run the majority of the Philippines' retail
industry and they are fast becoming an economic powerhouse for this
country," related Guillermo Aponte, president and general manager of
Coca-Cola Philippines.
"By providing these women with the skills training and access to credit
and markets, they can more readily become successful engines for
economic and community development," he added.
Economic empowerment
In December 2010, the Coca-Cola system in the Philippines took the
challenge of Muhtar Kent, the company's chief executive officer, to
economically empower 5 million women all across the globe by 2020.
Called National Convergence Program on Empowering Grassroots Women
Entrepreneurs, this program has been mounted in the Philippines in
partnership with the Technical Education and Skills Development
Authority (Tesda), local government units, micro-finance institutions
and nongovernment organizations. Coca-Cola provides access to business
management education, operational training and financial planning to the
chosen women entrepreneurs.
The program was piloted in 2011 with 300 women in 10 cluster sites in
Palawan. The training involves essential skills like bookkeeping and
accounting, business planning and inventory management. This year, the
program is targeting 10,000 women business owners.
Coca-Cola and Tesda recently inked a memorandum of agreement for a
renewed partnership, the softdrink brand's chief legal counsel Cristina
Bernardino and the government agency's director general Joel Villanueva
and as signatories. Coca-Cola Philippines vice president for Public
Affairs and Communications, Diana Garza Ciarlante, witnessed this
landmark agreement that will economically empower 100,000 women
retailers by year 2020.
Tesda reinforced its support and commitment by issuing an order for the
creation of a National Project Management Team that will help mobilize
resources and networks from the national, regional, provincial and
municipal levels.
"We know that women can do more and do better than playing their typical
role as homemakers. Many of them have the confidence and commitment to
venture into small business or micro-enterprise, but don't know how to
go about it. This is where we believe our intervention is needed,"
Villanueva stated.
Business intervention
This is exactly what happened to Teresita Antonio, another sari-sari
store owner in Puerto Princesa who received support and guidance from
the program of Coca-Cola Bottlers Philippines Inc.
Looking back, Teresita was teary-eyed as she recalled the hard life her
family endured in the Bicol region. Years before they moved to Puerto
Princesa City, her family depended on the P200 a day earning of her
husband who is a seasonal carpenter.
"If there were no carpentry jobs available, we had no money," she added.
In search for greener pastures, her family decided to move to Puerto
Princesa, only to find that the demand for carpentry was none the
better. It was then that she thought of putting up a sari-sari store to
help her husband. She pawned an old bracelet for capital—the only family
heirloom passed on to her by her late father. Raising P5,000, Teresita
opened a store named after her only son, John Clarence, and decided to
exclusively sell Coca-Cola products.
A Coca-Cola account developer noticed her store during the first few
months of its operation.
They extended support and guidance, teaching Teresita how to improve her
store and monitor her sales. She availed of the brand's promos and
merchandising equipment, which boosted the income of John Clarence store.
In a matter of four years, Teresita now makes P4,000 a day from the
sales of Coca-Cola and other basic supplies. She was able redeem her
family heirloom from the pawnshop, buy back her small family lot in
Bicol, and is now looking forward to a brighter future.
Inspiring Lola Bernadita
According to studies, women who have a regular income invest in the
education, nutrition and health of their children (or their relatives if
single), and therefore contribute to the solution of breaking poverty
cycles not only for their family but for the community as a whole.
Bernadita Rivamonde, a native of Pantabangan, Nueva Ecija, is just one
of such inspirational women who, up to this very day, is a steadfast
provider for her grandchildren and great grandchildren, some of whom
have also ventured in the same business of sari-sari stores, while
completing their college education.
Lola Bernardita, as she is fondly called by her family and friends,
turns 78 years old this year. She started to operate her sari-sari store
at the tender age of 15. Despite being poor, Lola Bernardita was able to
finish primary school with the highest honor as class valedictorian.
Since her family could not send her to school, she worked as a young
helper to several Chinese-owned stores in order to help her parents and
siblings.
When the Japanese-American war broke, she carried on with her duties and
guarded the store with diligence and honesty. When the owner of the
store came back after the war, they were amazed that their business was
secure, and as a token of their gratitude, they gave Lola Bernadita P40
for her honesty.
With that money, Lola Bernadita, bought several goods from the market
and began selling them in the town plaza. According to her, soft drinks
had always been part of her inventory because young men and women often
looked for refreshment after a walk in the park.
Two years on her mobile sari-sari store by the plaza, she met a young
soldier and they got married when she was 17. They were blessed with two
children but her husband passed away after 18 years of marriage. Since
then, she has been the sole bread winner of the family. They moved to
Puerto Princesa in 1987 after her eldest son died leaving her with his
children.
It was hard for Lola Bernadita but she took care of her grandchildren
and raised them with the earnings of her sari-sari store business.
During her start-up years in Puerto Princesa, Lola Bernadita was
grateful that Coca-Cola extended guidance, keeping retailers like her
abreast with promos and products. She can never forget the time her
granddaughter won in the three-minute "Hakot" text promo, bringing home
Coca-Cola products and other grocery items worth P105,000. Naturally,
the promo boosted Lola Bernadita's store inventory and increased her income.
Thank you Philippines
This project of empowering women is just one of the four pillars of
Coca-Cola's corporate social responsibility programs that aim to improve
the quality of life for thousands of Filipinos. (See sidebar).
Now, commemorating its 100th year in the country, the Coca-Cola system
in the Philippines is accelerating the implementation of
transformational key programs designed to make a lasting and positive
difference in the country for the next 100 years.
"I cannot think of a better way to say 'thank you' than to give back to
the Filipino people for making Coca-Cola part of their lives for the
last 100 years," said Aponte. "Our goal is to implement marketing and
community programs all across the country that will have a meaningful
and positive impact on the lives of many Filipinos for the next hundred
years."
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Published : Sunday, June 10, 2012 00:00 Article Views : 535 Written by :
Lea Manto-Beltran, Staff Writer
Teresita Antonio makes 4000 a day from her sari-sari store
IN 1984, Nellie Cornel opened her sari-sari store with a start-up
capital of P800—an amount she was able to save from the P280-salary her
husband turned over every month.
With some iron sheets and light materials, the sari-sari store opened in
front of the family's humble home. It catered to small community in
Puerto Princesa from 3 in the morning, all the way to 12 midnight each
day. Nellie and her husband took turns manning the small the business,
clocking in long hours while taking care of three children—Nellie even
pregnant with the fourth—at that time.
Today, the sari-sari store has turned into a mini-grocery, situated on
the ground floor of the Cornels' four-storey building.
Asked how she was able to turn such a small venture into a successful
livelihood, Nellie replied that it all boils down to her "principle of
being simple."
She believes people do not need a lot of things in life to live
comfortably. Her mantra is to live
by the basics and avoid buying unnecessary luxuries. True enough, from
the earnings of their store, she has since been able to send all her
seven children to school.
Nellie is just one of the estimated 800,000 owners of sari-sari stores,
or retail stores, around the country. The majority of which is owned and
operated by women.
"Women entrepreneurs run the majority of the Philippines' retail
industry and they are fast becoming an economic powerhouse for this
country," related Guillermo Aponte, president and general manager of
Coca-Cola Philippines.
"By providing these women with the skills training and access to credit
and markets, they can more readily become successful engines for
economic and community development," he added.
Economic empowerment
In December 2010, the Coca-Cola system in the Philippines took the
challenge of Muhtar Kent, the company's chief executive officer, to
economically empower 5 million women all across the globe by 2020.
Called National Convergence Program on Empowering Grassroots Women
Entrepreneurs, this program has been mounted in the Philippines in
partnership with the Technical Education and Skills Development
Authority (Tesda), local government units, micro-finance institutions
and nongovernment organizations. Coca-Cola provides access to business
management education, operational training and financial planning to the
chosen women entrepreneurs.
The program was piloted in 2011 with 300 women in 10 cluster sites in
Palawan. The training involves essential skills like bookkeeping and
accounting, business planning and inventory management. This year, the
program is targeting 10,000 women business owners.
Coca-Cola and Tesda recently inked a memorandum of agreement for a
renewed partnership, the softdrink brand's chief legal counsel Cristina
Bernardino and the government agency's director general Joel Villanueva
and as signatories. Coca-Cola Philippines vice president for Public
Affairs and Communications, Diana Garza Ciarlante, witnessed this
landmark agreement that will economically empower 100,000 women
retailers by year 2020.
Tesda reinforced its support and commitment by issuing an order for the
creation of a National Project Management Team that will help mobilize
resources and networks from the national, regional, provincial and
municipal levels.
"We know that women can do more and do better than playing their typical
role as homemakers. Many of them have the confidence and commitment to
venture into small business or micro-enterprise, but don't know how to
go about it. This is where we believe our intervention is needed,"
Villanueva stated.
Business intervention
This is exactly what happened to Teresita Antonio, another sari-sari
store owner in Puerto Princesa who received support and guidance from
the program of Coca-Cola Bottlers Philippines Inc.
Looking back, Teresita was teary-eyed as she recalled the hard life her
family endured in the Bicol region. Years before they moved to Puerto
Princesa City, her family depended on the P200 a day earning of her
husband who is a seasonal carpenter.
"If there were no carpentry jobs available, we had no money," she added.
In search for greener pastures, her family decided to move to Puerto
Princesa, only to find that the demand for carpentry was none the
better. It was then that she thought of putting up a sari-sari store to
help her husband. She pawned an old bracelet for capital—the only family
heirloom passed on to her by her late father. Raising P5,000, Teresita
opened a store named after her only son, John Clarence, and decided to
exclusively sell Coca-Cola products.
A Coca-Cola account developer noticed her store during the first few
months of its operation.
They extended support and guidance, teaching Teresita how to improve her
store and monitor her sales. She availed of the brand's promos and
merchandising equipment, which boosted the income of John Clarence store.
In a matter of four years, Teresita now makes P4,000 a day from the
sales of Coca-Cola and other basic supplies. She was able redeem her
family heirloom from the pawnshop, buy back her small family lot in
Bicol, and is now looking forward to a brighter future.
Inspiring Lola Bernadita
According to studies, women who have a regular income invest in the
education, nutrition and health of their children (or their relatives if
single), and therefore contribute to the solution of breaking poverty
cycles not only for their family but for the community as a whole.
Bernadita Rivamonde, a native of Pantabangan, Nueva Ecija, is just one
of such inspirational women who, up to this very day, is a steadfast
provider for her grandchildren and great grandchildren, some of whom
have also ventured in the same business of sari-sari stores, while
completing their college education.
Lola Bernardita, as she is fondly called by her family and friends,
turns 78 years old this year. She started to operate her sari-sari store
at the tender age of 15. Despite being poor, Lola Bernardita was able to
finish primary school with the highest honor as class valedictorian.
Since her family could not send her to school, she worked as a young
helper to several Chinese-owned stores in order to help her parents and
siblings.
When the Japanese-American war broke, she carried on with her duties and
guarded the store with diligence and honesty. When the owner of the
store came back after the war, they were amazed that their business was
secure, and as a token of their gratitude, they gave Lola Bernadita P40
for her honesty.
With that money, Lola Bernadita, bought several goods from the market
and began selling them in the town plaza. According to her, soft drinks
had always been part of her inventory because young men and women often
looked for refreshment after a walk in the park.
Two years on her mobile sari-sari store by the plaza, she met a young
soldier and they got married when she was 17. They were blessed with two
children but her husband passed away after 18 years of marriage. Since
then, she has been the sole bread winner of the family. They moved to
Puerto Princesa in 1987 after her eldest son died leaving her with his
children.
It was hard for Lola Bernadita but she took care of her grandchildren
and raised them with the earnings of her sari-sari store business.
During her start-up years in Puerto Princesa, Lola Bernadita was
grateful that Coca-Cola extended guidance, keeping retailers like her
abreast with promos and products. She can never forget the time her
granddaughter won in the three-minute "Hakot" text promo, bringing home
Coca-Cola products and other grocery items worth P105,000. Naturally,
the promo boosted Lola Bernadita's store inventory and increased her income.
Thank you Philippines
This project of empowering women is just one of the four pillars of
Coca-Cola's corporate social responsibility programs that aim to improve
the quality of life for thousands of Filipinos. (See sidebar).
Now, commemorating its 100th year in the country, the Coca-Cola system
in the Philippines is accelerating the implementation of
transformational key programs designed to make a lasting and positive
difference in the country for the next 100 years.
"I cannot think of a better way to say 'thank you' than to give back to
the Filipino people for making Coca-Cola part of their lives for the
last 100 years," said Aponte. "Our goal is to implement marketing and
community programs all across the country that will have a meaningful
and positive impact on the lives of many Filipinos for the next hundred
years."
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Xpress Money eyes tie-ups with rural banks
Xpress Money eyes tie-ups with rural banks
By: Michelle V. Remo
Philippine Daily Inquirer
7:31 pm | Sunday, June 10th, 2012
Xpress Money targets to serve in at least 1,500 more locations in the
Philippines in 2012 through partnerships with rural banks in Luzon,
Visayas and Mindanao.
MANILA, Philippines—Xpress Money, a global money transfer firm, seeks to
expand its presence in the Philippines by entering into partnership
deals with rural banks nationwide.
Joel Candy, head of the company's business development in Asia-Pacific,
said Xpress Money was targeting to serve in at least 1,500 more
locations in the country this year through partnerships with rural banks
in Luzon, Visayas and Mindanao.
Candy said the company believed that entering into partnerships with
rural banks was a prudent way to expand its business given the
significant number of households in the provinces that receive
remittances from family members working offshore.
Currently, Xpress Money operates in the Philippines through partnerships
with several banks and non-bank institutions, including Metrobank, Banco
de Oro, Chinabank, I-Remit, Cebuana Lhuillier and GCash.
It has operations in 125 more countries, including those where there are
huge concentrations of overseas Filipino workers (OFWs) like countries
from the Middle East.
Through the facility of Xpress Money, OFWs and other money senders from
abroad who have beneficiaries in countries like the Philippines are able
to remit the funds. The beneficiaries pick up the remittances from the
bank and non-bank partners in the recipient country.
"We want more distribution points and penetrate the market more," Candy
told the Inquirer Sunday during the opening of its Overseas Filipino
Workers Center in Manila. The OFW Center, the company's corporate social
responsibility project, is a venue for educating remittance-dependent
households on savings and investments.
The expansion plans of Xpress Money come amid its positive outlook on
remittances. Candy said that despite the ongoing global economic
uncertainties, brought about by the prolonged debt crisis in the
eurozone, remittances to the Philippines are expected to continue growing.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By: Michelle V. Remo
Philippine Daily Inquirer
7:31 pm | Sunday, June 10th, 2012
Xpress Money targets to serve in at least 1,500 more locations in the
Philippines in 2012 through partnerships with rural banks in Luzon,
Visayas and Mindanao.
MANILA, Philippines—Xpress Money, a global money transfer firm, seeks to
expand its presence in the Philippines by entering into partnership
deals with rural banks nationwide.
Joel Candy, head of the company's business development in Asia-Pacific,
said Xpress Money was targeting to serve in at least 1,500 more
locations in the country this year through partnerships with rural banks
in Luzon, Visayas and Mindanao.
Candy said the company believed that entering into partnerships with
rural banks was a prudent way to expand its business given the
significant number of households in the provinces that receive
remittances from family members working offshore.
Currently, Xpress Money operates in the Philippines through partnerships
with several banks and non-bank institutions, including Metrobank, Banco
de Oro, Chinabank, I-Remit, Cebuana Lhuillier and GCash.
It has operations in 125 more countries, including those where there are
huge concentrations of overseas Filipino workers (OFWs) like countries
from the Middle East.
Through the facility of Xpress Money, OFWs and other money senders from
abroad who have beneficiaries in countries like the Philippines are able
to remit the funds. The beneficiaries pick up the remittances from the
bank and non-bank partners in the recipient country.
"We want more distribution points and penetrate the market more," Candy
told the Inquirer Sunday during the opening of its Overseas Filipino
Workers Center in Manila. The OFW Center, the company's corporate social
responsibility project, is a venue for educating remittance-dependent
households on savings and investments.
The expansion plans of Xpress Money come amid its positive outlook on
remittances. Candy said that despite the ongoing global economic
uncertainties, brought about by the prolonged debt crisis in the
eurozone, remittances to the Philippines are expected to continue growing.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Saturday, June 9, 2012
Financial inclusion
Financial inclusion
DEVELOPING COUNTRIES, including the Philippines, are taking the
necessary measures to incorporate financial inclusion in their economic
development efforts. In fact, the government's economic managers believe
extending the reach of the financial system to those who are "unbanked"
is one of the key elements in attaining "inclusive growth."
"The year 2011 was characterized by the mainstreaming of financial
inclusion in the domestic and international policy agendas, in light of
growing recognition of the importance of financial inclusion as a policy
objective," the Bangko Sentral ng Pilipinas (BSP) said in its yearend
report titled "BSP Microfinance Initiatives."
The 2010 Millennium Development Goals Summit defined financial inclusion
as "universal access, at reasonable cost, to a wide range of financial
services for everyone needing them, provided by a diversity of sound and
sustainable institutions" This includes the access of disadvantaged or
low-income sectors of the economy to financial services.
In a study, titled "Microfinance, Financial Inclusion and Financial
Development: An Empirical Investigation with an International
Perspective," Jovi Dacanay, Bienvenido Nito and Patricia Buensucesos
said: "Financial inclusion is important in building economies. A more
inclusive financial system is said to be beneficial because of the
number of good effects it has both on the microeconomic and
macroeconomic levels."
"[F]inancial inclusion brings about economic efficiency and
distributional equity as it extends deposit services to a larger number
of people and enables fruits of economic development to be shared by
everyone, respectively," the study said.
The Philippines, however, is still far from achieving universal access
to financial institutions. BSP Governor Amando M. Tetangco, Jr., in a
keynote speech for the session on financial stability and financial
inclusion of the 2012 Financial Sector Forum last Feb. 7, said only 26%
of the country's adult population use banking services while 37% of
municipalities still do not have banking offices.
Meanwhile, 8 out of 10 families are "unbanked" or not part of the formal
financial system, data from the BSP's Consumer Finance Survey showed.
BSP Deputy Governor Nestor A. Espenilla, Jr. said that in response to
the needs of the market: "[W]e have liberalized [the] branching policy
and allowed so-called 'micro banking offices (MBO)' which are really
light branches to cater to the unique needs of microfinance clients and
overseas Filipinos including their beneficiaries."
As of end-2011, 110 banks have sought permits for the establishment of
micro-banking offices. These cover 750 MBOs.
"We are encouraging banks to develop various e-banking platforms,
through strategic partnerships with other allied service providers like
telecommunication companies for mobile banking, to further expand access
to financial services in remote rural areas," the BSP official added.
These efforts are on top of the BSP's financial literacy campaigns and
the establishment of microfinance programs for livelihood projects.
Emmanuel A. Leyco, president of Credit Rating and Investors Services
Philippines, Inc., said tapping the "unbanked" would remain a challenge
as the cost of banking in the Philippines is expensive, while the number
of Filipinos with the ability to save are limited.
"To encourage more savings, maybe they can look at lowering the
transaction cost for the banking industry… [Also], you cannot expect the
lower income [bracket] to save … because they have nothing to save."
Annual earnings of families in the bottom 30% income group averaged at
P62,000 in 2009, data from the Family Income and Expenditure Survey
showed. Meanwhile, their average annual expenses stood at P64,000, which
means poor families spend more than what they earn. — Karen Joyce Q. Ang
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
DEVELOPING COUNTRIES, including the Philippines, are taking the
necessary measures to incorporate financial inclusion in their economic
development efforts. In fact, the government's economic managers believe
extending the reach of the financial system to those who are "unbanked"
is one of the key elements in attaining "inclusive growth."
"The year 2011 was characterized by the mainstreaming of financial
inclusion in the domestic and international policy agendas, in light of
growing recognition of the importance of financial inclusion as a policy
objective," the Bangko Sentral ng Pilipinas (BSP) said in its yearend
report titled "BSP Microfinance Initiatives."
The 2010 Millennium Development Goals Summit defined financial inclusion
as "universal access, at reasonable cost, to a wide range of financial
services for everyone needing them, provided by a diversity of sound and
sustainable institutions" This includes the access of disadvantaged or
low-income sectors of the economy to financial services.
In a study, titled "Microfinance, Financial Inclusion and Financial
Development: An Empirical Investigation with an International
Perspective," Jovi Dacanay, Bienvenido Nito and Patricia Buensucesos
said: "Financial inclusion is important in building economies. A more
inclusive financial system is said to be beneficial because of the
number of good effects it has both on the microeconomic and
macroeconomic levels."
"[F]inancial inclusion brings about economic efficiency and
distributional equity as it extends deposit services to a larger number
of people and enables fruits of economic development to be shared by
everyone, respectively," the study said.
The Philippines, however, is still far from achieving universal access
to financial institutions. BSP Governor Amando M. Tetangco, Jr., in a
keynote speech for the session on financial stability and financial
inclusion of the 2012 Financial Sector Forum last Feb. 7, said only 26%
of the country's adult population use banking services while 37% of
municipalities still do not have banking offices.
Meanwhile, 8 out of 10 families are "unbanked" or not part of the formal
financial system, data from the BSP's Consumer Finance Survey showed.
BSP Deputy Governor Nestor A. Espenilla, Jr. said that in response to
the needs of the market: "[W]e have liberalized [the] branching policy
and allowed so-called 'micro banking offices (MBO)' which are really
light branches to cater to the unique needs of microfinance clients and
overseas Filipinos including their beneficiaries."
As of end-2011, 110 banks have sought permits for the establishment of
micro-banking offices. These cover 750 MBOs.
"We are encouraging banks to develop various e-banking platforms,
through strategic partnerships with other allied service providers like
telecommunication companies for mobile banking, to further expand access
to financial services in remote rural areas," the BSP official added.
These efforts are on top of the BSP's financial literacy campaigns and
the establishment of microfinance programs for livelihood projects.
Emmanuel A. Leyco, president of Credit Rating and Investors Services
Philippines, Inc., said tapping the "unbanked" would remain a challenge
as the cost of banking in the Philippines is expensive, while the number
of Filipinos with the ability to save are limited.
"To encourage more savings, maybe they can look at lowering the
transaction cost for the banking industry… [Also], you cannot expect the
lower income [bracket] to save … because they have nothing to save."
Annual earnings of families in the bottom 30% income group averaged at
P62,000 in 2009, data from the Family Income and Expenditure Survey
showed. Meanwhile, their average annual expenses stood at P64,000, which
means poor families spend more than what they earn. — Karen Joyce Q. Ang
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Thursday, June 7, 2012
NSCB: Fishermen the poorest in Phl in 2009
NSCB: Fishermen the poorest in Phl in 2009
By Jovan Cerda Home Updated June 07, 2012 04:24 PM 1 comment to this post
MANILA, Philippines- Fisherfolks were the poorest in the Philippines in
2009, the National Statistical Coordination Board (NSCB) said Thursday.
"Based on the 2009 official poverty statistics for the basic sectors,
fishermen posted the highest poverty incidence for nine basic sectors in
the Philippines at 41.4 percent, the same level in 2006," the state
agency added.
The sector was followed by farmers and children at 36.7 percent and 35.1
percent, respectively.
The state agency added that poverty incidences for fishermen, farmers,
children, self-employed and unpaid family workers (29.0 percent) are
higher than the national average of 26.5 percent in 2009.
Among the basic sectors of the population, children, women, and people
living in the urban areas accounted for the largest number of the poor
population in the Philippines at a combined 29.3 million, NSCB noted.
"The fishermen, while having the highest poverty incidence, had the
smallest number of poor population at 346,345, followed by senior
citizens at almost 1.2 million and farmers at 1.7 million," the state
agency said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By Jovan Cerda Home Updated June 07, 2012 04:24 PM 1 comment to this post
MANILA, Philippines- Fisherfolks were the poorest in the Philippines in
2009, the National Statistical Coordination Board (NSCB) said Thursday.
"Based on the 2009 official poverty statistics for the basic sectors,
fishermen posted the highest poverty incidence for nine basic sectors in
the Philippines at 41.4 percent, the same level in 2006," the state
agency added.
The sector was followed by farmers and children at 36.7 percent and 35.1
percent, respectively.
The state agency added that poverty incidences for fishermen, farmers,
children, self-employed and unpaid family workers (29.0 percent) are
higher than the national average of 26.5 percent in 2009.
Among the basic sectors of the population, children, women, and people
living in the urban areas accounted for the largest number of the poor
population in the Philippines at a combined 29.3 million, NSCB noted.
"The fishermen, while having the highest poverty incidence, had the
smallest number of poor population at 346,345, followed by senior
citizens at almost 1.2 million and farmers at 1.7 million," the state
agency said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Wednesday, June 6, 2012
$500M e-tricycle project to start this year
$500M e-tricycle project to start this year
By: Amy R. Remo
Philippine Daily Inquirer
2:57 am | Wednesday, June 6th, 2012
The Asian Development Bank is set to start implementing this year the
$500-million electric tricycle project, which will see the rollout of as
many as 100,000 units within the next four years.
Of the funding, $300 million will come from the ADB, $100 million from
the Philippine government, and another $100 million from the Clean
Technology Fund.
Sohail Hasnie, principal energy specialist at the ADB, told reporters
that the prequalification of suppliers and/or manufacturers for the
project was expected to start next month.
Before the end of this year, Hasnie said he was expecting at least 100
of these e-trikes to start plying Philippine roads.
The main plan was to initially roll out 20,000 units on key islands,
such as Boracay and Puerto Princesa, and in some parts of Metro Manila.
After this, a study will be conducted to determine whether the use of
e-trikes works according to the project objectives and yields the
benefits targeted by the ADB and the Philippine government.
Only after the initial batch is proven successful will the ADB proceed
with the rollout of the remaining 80,000 units, he added.
According to Hasnie, the ADB is also looking into putting up five pilot
charging stations to ensure the viability and sustainability of the
e-trikes project. The target, he added, was to make sure that the cost
of power used by the e-trikes would be much lower than the cost of fuel
used by regular tricycles.
At present, more than 3.5 million motorized tricycles are operating in
the country, producing more than 10 million tons of carbon dioxide and
using nearly $5 billion worth of imported fuel yearly.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By: Amy R. Remo
Philippine Daily Inquirer
2:57 am | Wednesday, June 6th, 2012
The Asian Development Bank is set to start implementing this year the
$500-million electric tricycle project, which will see the rollout of as
many as 100,000 units within the next four years.
Of the funding, $300 million will come from the ADB, $100 million from
the Philippine government, and another $100 million from the Clean
Technology Fund.
Sohail Hasnie, principal energy specialist at the ADB, told reporters
that the prequalification of suppliers and/or manufacturers for the
project was expected to start next month.
Before the end of this year, Hasnie said he was expecting at least 100
of these e-trikes to start plying Philippine roads.
The main plan was to initially roll out 20,000 units on key islands,
such as Boracay and Puerto Princesa, and in some parts of Metro Manila.
After this, a study will be conducted to determine whether the use of
e-trikes works according to the project objectives and yields the
benefits targeted by the ADB and the Philippine government.
Only after the initial batch is proven successful will the ADB proceed
with the rollout of the remaining 80,000 units, he added.
According to Hasnie, the ADB is also looking into putting up five pilot
charging stations to ensure the viability and sustainability of the
e-trikes project. The target, he added, was to make sure that the cost
of power used by the e-trikes would be much lower than the cost of fuel
used by regular tricycles.
At present, more than 3.5 million motorized tricycles are operating in
the country, producing more than 10 million tons of carbon dioxide and
using nearly $5 billion worth of imported fuel yearly.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Tuesday, June 5, 2012
More OFW households saving money
More OFW households saving money
MORE FAMILIES of overseas Filipino workers (OFWs) set aside remittances
for savings and investment, amid an increase in financial literacy as
well as savings and investment opportunities.
Among households that received overseas Filipino workers (OFW)
remittances in the first quarter, 42.7% used remittances for savings,
while 8.5% made financial investments, data from the Consumer
Expectations Survey of the Bangko Sentral ng Pilipinas (BSP) released in
March showed.
These numbers were higher than the 41.4% and 5.7% OFW households that
had saved and invested, respectively, in the same period last year.
"They are getting a lot of financial literacy training," said Golda Myra
R. Roma, director for policy planning and research at the Commission on
Filipinos Overseas. "There is the realization already of the value of
saving for the future."
The BSP noted a major shift in the use of remittances by beneficiaries.
When the quarterly survey started in 2007, only 7.2% saved the money
sent home by loved ones abroad, while only 2.3% invested.
"It is good that more OFW households are saving and investing, because
they are able to prepare for their return and stay here. Some families
are already able to get rid of their consumerist attitude," said Ms. Roma.
BSP data showed that OFW households continued to spend remittances
primarily for food, education, medical expenses, and debt repayments.
Remittances in the first quarter grew by 5.4% to $4.842 billion. The
rate of increase was slower than the 5.9% recorded in the same period
last year.
Ms. Roma acknowledged the efforts of the government, non-governmental
organizations, and private financial companies to provide programs and
products to increase financial literacy and saving opportunities for OFWs.
"Eventually, we would like the OFWs to come back and maximize their
potential, shaped by their experiences abroad," she added.
The BSP survey covered 5,852 households nationwide, out of which 589
received OFW remittances in the first quarter. — Carmina Angelica C.
Valeroso
For full detailed article, go to
http://www.bworldonline.com/Research/economicindicators.php?id=0567
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
MORE FAMILIES of overseas Filipino workers (OFWs) set aside remittances
for savings and investment, amid an increase in financial literacy as
well as savings and investment opportunities.
Among households that received overseas Filipino workers (OFW)
remittances in the first quarter, 42.7% used remittances for savings,
while 8.5% made financial investments, data from the Consumer
Expectations Survey of the Bangko Sentral ng Pilipinas (BSP) released in
March showed.
These numbers were higher than the 41.4% and 5.7% OFW households that
had saved and invested, respectively, in the same period last year.
"They are getting a lot of financial literacy training," said Golda Myra
R. Roma, director for policy planning and research at the Commission on
Filipinos Overseas. "There is the realization already of the value of
saving for the future."
The BSP noted a major shift in the use of remittances by beneficiaries.
When the quarterly survey started in 2007, only 7.2% saved the money
sent home by loved ones abroad, while only 2.3% invested.
"It is good that more OFW households are saving and investing, because
they are able to prepare for their return and stay here. Some families
are already able to get rid of their consumerist attitude," said Ms. Roma.
BSP data showed that OFW households continued to spend remittances
primarily for food, education, medical expenses, and debt repayments.
Remittances in the first quarter grew by 5.4% to $4.842 billion. The
rate of increase was slower than the 5.9% recorded in the same period
last year.
Ms. Roma acknowledged the efforts of the government, non-governmental
organizations, and private financial companies to provide programs and
products to increase financial literacy and saving opportunities for OFWs.
"Eventually, we would like the OFWs to come back and maximize their
potential, shaped by their experiences abroad," she added.
The BSP survey covered 5,852 households nationwide, out of which 589
received OFW remittances in the first quarter. — Carmina Angelica C.
Valeroso
For full detailed article, go to
http://www.bworldonline.com/Research/economicindicators.php?id=0567
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
The reasons behind our resurgent growth
A breakout nation?
By: Cielito F. Habito
Philippine Daily Inquirer
9:24 pm | Monday, June 4th, 2012
Not a few were surprised that the Philippine economy grew by 6.4 percent
in the first quarter of this year—supposedly the fastest in Southeast
Asia—when most analysts expected less than 5 percent. I've been telling
my audiences that a 4-5 percent growth would be the prudent figure for
planning purposes, while the more aggressive could plan around 5-6
percent. Hence, when the National Statistical Coordination Board (NSCB)
announced last week that we actually made 6.4 percent, some began
wondering if it's too good to be true, or whether it's a mere fluke.
The news was a pleasant surprise indeed, but then again, the elements
for a resurgence of growth have actually been in place. First, the
government has apparently gone full throttle on its spending, both for
infrastructure and for regular operations. Having faced severe criticism
for drastic spending reductions that impeded overall growth last year,
our economic managers have resolved to make up. The first quarter saw
government construction bouncing by a hefty 62.2 percent from a steep
38-percent drop same time last year. Meanwhile, government's
noninfrastructure spending on regular operations jumped by 24 percent,
whereas it only inched up 1 percent last year. Just as lack of public
spending impeded the economy's growth last year, so did a renewed burst
in the same provoke the unexpectedly high surge this time around.
Another key contributor to the bounce-back was the recovery from last
year's disruptive disasters in Japan and Thailand. A major factor that
slowed us down last year was the triple disaster in Japan, and
debilitating floods in Thailand—both of which disrupted value chains
linked to our own domestic producers. For example, our vehicle assembly
operations were impeded by the lack of components coming from Japanese
factories shut down in the aftermath of the earthquakes, tsunami and
nuclear disaster that hit northern Japan. Similarly, certain product
flows from the Philippines to Japan suffered disruptions as the slowdown
in economic activity in the latter impaired their absorptive capacity
for our exports of both final and intermediate goods. The serious
flooding that hit key manufacturing areas in Thailand precipitated a
similar disruption in two-way commodity flows with that country. These
disruptions had already been overcome as of the first quarter this year,
and the interrupted product flows had not only been restored, but had
even seen further growth.
A third key element in the bounce-back is the unmistakable resurgence in
business confidence, among both domestic and foreign investors. The
Bangko Sentral ng Pilipinas quarterly Business Expectations Survey shows
business optimism reaching new highs. Providing independent affirmation
are continuing credit outlook and ratings upgrades over the past year
from Standard & Poor's, Fitch Ratings and Moody's Investors Service
(which just last week upgraded our outlook anew from "stable" to
"positive"). These suggest that the governance reforms pledged by the
Aquino government are seen by the business community as credible, if not
beginning to take hold. Accelerating internal revenue collections,
tightened accountability mechanisms in public projects (even at the cost
of last year's dramatic slowdown), and the recent demonstration that our
democratic processes are working all surely have a role in this. It is
thus encouraging that foreign direct investment (FDI) applications and
approvals have climbed to levels not seen in the last 16 years, based on
NSCB's latest FDI statistics. Announcements of large capital expenditure
plans by publicly listed domestic companies further bolster the picture
of general business optimism. All these seem oblivious to the threat of
an economic crisis in Europe; we have, after all, demonstrated
resilience in the face of international crisis more than once in the past.
In his international bestseller "Breakout Nations," Ruchir Sharma, head
of the emerging markets division at Morgan Stanley, names the
Philippines as among the upcoming new stars in the international
economic scene, the breakout nations. With Turkey and Indonesia, we make
up TIP, which he sees poised to upstage the BRIC economies (Brazil,
Russia, India and China), considered in recent years to be the rising
stars of the world economy. But to Sharma, BRICs are losing steam, while
his identified breakout nations (which also include Nigeria and
Thailand) will defy expectations and speed ahead. He describes President
Aquino as a good leader who is "delegating power to competent
technocrats and seems to understand what needs to be done to get the
lights back on."
Sharma's popular new book would help attract greater investor interest
in the Philippines, but becoming a breakout nation will not come
automatically. Much homework remains to be done, and breaking out into
sustained high growth will not serve the country well unless it is
growth that everyone partakes of. Sharma notes how our country's
stagnant decades had been marked by a few family-owned conglomerates
dominating the markets. In his view, Turkey's breakout is happening
because of its current leadership's drive for greater inclusiveness;
under Prime Minister Erdogan, masses once excluded on account of their
religious values now play a leading role in the economy. A key
observation Sharma makes is that breakout nations would be distinguished
by the quality of their politicians.
Is our first quarter growth performance the start of the nation's
breakout? I hesitate to bet on it until I see the politicians we vote
into power next year and in 2016.
* * *
E-mail: cielito.habito@gmail.com
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By: Cielito F. Habito
Philippine Daily Inquirer
9:24 pm | Monday, June 4th, 2012
Not a few were surprised that the Philippine economy grew by 6.4 percent
in the first quarter of this year—supposedly the fastest in Southeast
Asia—when most analysts expected less than 5 percent. I've been telling
my audiences that a 4-5 percent growth would be the prudent figure for
planning purposes, while the more aggressive could plan around 5-6
percent. Hence, when the National Statistical Coordination Board (NSCB)
announced last week that we actually made 6.4 percent, some began
wondering if it's too good to be true, or whether it's a mere fluke.
The news was a pleasant surprise indeed, but then again, the elements
for a resurgence of growth have actually been in place. First, the
government has apparently gone full throttle on its spending, both for
infrastructure and for regular operations. Having faced severe criticism
for drastic spending reductions that impeded overall growth last year,
our economic managers have resolved to make up. The first quarter saw
government construction bouncing by a hefty 62.2 percent from a steep
38-percent drop same time last year. Meanwhile, government's
noninfrastructure spending on regular operations jumped by 24 percent,
whereas it only inched up 1 percent last year. Just as lack of public
spending impeded the economy's growth last year, so did a renewed burst
in the same provoke the unexpectedly high surge this time around.
Another key contributor to the bounce-back was the recovery from last
year's disruptive disasters in Japan and Thailand. A major factor that
slowed us down last year was the triple disaster in Japan, and
debilitating floods in Thailand—both of which disrupted value chains
linked to our own domestic producers. For example, our vehicle assembly
operations were impeded by the lack of components coming from Japanese
factories shut down in the aftermath of the earthquakes, tsunami and
nuclear disaster that hit northern Japan. Similarly, certain product
flows from the Philippines to Japan suffered disruptions as the slowdown
in economic activity in the latter impaired their absorptive capacity
for our exports of both final and intermediate goods. The serious
flooding that hit key manufacturing areas in Thailand precipitated a
similar disruption in two-way commodity flows with that country. These
disruptions had already been overcome as of the first quarter this year,
and the interrupted product flows had not only been restored, but had
even seen further growth.
A third key element in the bounce-back is the unmistakable resurgence in
business confidence, among both domestic and foreign investors. The
Bangko Sentral ng Pilipinas quarterly Business Expectations Survey shows
business optimism reaching new highs. Providing independent affirmation
are continuing credit outlook and ratings upgrades over the past year
from Standard & Poor's, Fitch Ratings and Moody's Investors Service
(which just last week upgraded our outlook anew from "stable" to
"positive"). These suggest that the governance reforms pledged by the
Aquino government are seen by the business community as credible, if not
beginning to take hold. Accelerating internal revenue collections,
tightened accountability mechanisms in public projects (even at the cost
of last year's dramatic slowdown), and the recent demonstration that our
democratic processes are working all surely have a role in this. It is
thus encouraging that foreign direct investment (FDI) applications and
approvals have climbed to levels not seen in the last 16 years, based on
NSCB's latest FDI statistics. Announcements of large capital expenditure
plans by publicly listed domestic companies further bolster the picture
of general business optimism. All these seem oblivious to the threat of
an economic crisis in Europe; we have, after all, demonstrated
resilience in the face of international crisis more than once in the past.
In his international bestseller "Breakout Nations," Ruchir Sharma, head
of the emerging markets division at Morgan Stanley, names the
Philippines as among the upcoming new stars in the international
economic scene, the breakout nations. With Turkey and Indonesia, we make
up TIP, which he sees poised to upstage the BRIC economies (Brazil,
Russia, India and China), considered in recent years to be the rising
stars of the world economy. But to Sharma, BRICs are losing steam, while
his identified breakout nations (which also include Nigeria and
Thailand) will defy expectations and speed ahead. He describes President
Aquino as a good leader who is "delegating power to competent
technocrats and seems to understand what needs to be done to get the
lights back on."
Sharma's popular new book would help attract greater investor interest
in the Philippines, but becoming a breakout nation will not come
automatically. Much homework remains to be done, and breaking out into
sustained high growth will not serve the country well unless it is
growth that everyone partakes of. Sharma notes how our country's
stagnant decades had been marked by a few family-owned conglomerates
dominating the markets. In his view, Turkey's breakout is happening
because of its current leadership's drive for greater inclusiveness;
under Prime Minister Erdogan, masses once excluded on account of their
religious values now play a leading role in the economy. A key
observation Sharma makes is that breakout nations would be distinguished
by the quality of their politicians.
Is our first quarter growth performance the start of the nation's
breakout? I hesitate to bet on it until I see the politicians we vote
into power next year and in 2016.
* * *
E-mail: cielito.habito@gmail.com
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Monday, June 4, 2012
BSP Lifts Bank Branching Limit
BSP Lifts Bank Branching Limit
By LEE C. CHIPONGIAN
June 3, 2012, 9:22pm
MANILA, Philippines --- The Bangko Sentral ng Pilipinas (BSP) has lifted
the limit on the number of branches that banks can apply for in a move
that will further encourage mid-sized commercial banks to expand their
banking networks.
BSP Governor Amando M. Tetangco Jr. signed Circular No. 759 which
amended the bank branching policy last week.
The revised bank branching policy has also extended the number of years
that banks must open new branches or banking offices to three years from
just 12 months.
The BSP currently sets a limit of five new branches per bank at any
given time and implements a strict years from the date of approval and
Tetangco said appeal for extensions will not be entertained.
However, approvals for new branches may be revoked if the BSP could
determine that a bank's capital will no longer sufficiently support the
establishment of new branches or the bank has supervisory problems to
land in the prompt corrective action program, which is where banks with
capitalization problems are placed.
The BSP is supervising 730 banks, of which 38 are the big-capitalized
universal and commercial banks. There are 71 thrift banks and 617 rural
banks.
As of December 2011, the total banking system has branches and offices
numbering 8,324. This number excludes non-banking financial institutions.
The new circular complements the BSP's liberalization of the bank branch
policy that it started in 2011.
Last year, the BSP lifted the 15-year moratorium on bank branching in
the eight restricted areas in Metro Manila. By July 1, 2014, the eight
restricted areas will be fully opened up.
BSP Circular 728 which liberalized bank branching will be done in two
phases. Initially the Monetary Board has approved the partial lifting of
the branching restriction in the cities of Makati, Mandaluyong, Manila,
Paranaque, Pasay, Pasig, San Juan and Quezon City.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By LEE C. CHIPONGIAN
June 3, 2012, 9:22pm
MANILA, Philippines --- The Bangko Sentral ng Pilipinas (BSP) has lifted
the limit on the number of branches that banks can apply for in a move
that will further encourage mid-sized commercial banks to expand their
banking networks.
BSP Governor Amando M. Tetangco Jr. signed Circular No. 759 which
amended the bank branching policy last week.
The revised bank branching policy has also extended the number of years
that banks must open new branches or banking offices to three years from
just 12 months.
The BSP currently sets a limit of five new branches per bank at any
given time and implements a strict years from the date of approval and
Tetangco said appeal for extensions will not be entertained.
However, approvals for new branches may be revoked if the BSP could
determine that a bank's capital will no longer sufficiently support the
establishment of new branches or the bank has supervisory problems to
land in the prompt corrective action program, which is where banks with
capitalization problems are placed.
The BSP is supervising 730 banks, of which 38 are the big-capitalized
universal and commercial banks. There are 71 thrift banks and 617 rural
banks.
As of December 2011, the total banking system has branches and offices
numbering 8,324. This number excludes non-banking financial institutions.
The new circular complements the BSP's liberalization of the bank branch
policy that it started in 2011.
Last year, the BSP lifted the 15-year moratorium on bank branching in
the eight restricted areas in Metro Manila. By July 1, 2014, the eight
restricted areas will be fully opened up.
BSP Circular 728 which liberalized bank branching will be done in two
phases. Initially the Monetary Board has approved the partial lifting of
the branching restriction in the cities of Makati, Mandaluyong, Manila,
Paranaque, Pasay, Pasig, San Juan and Quezon City.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Subscribe to:
Posts (Atom)