Gokongwei buys thrift bank in Bocol, to do microfinance
GOKONGWEI-LED Robinsons Bank Corp. (Robinsons Bank) has purchased a
controlling stake in a Legazpi City-based thrift bank as it executes a
plan to gain a stronger presence in the highly competitive commercial
banking industry.
In an e-mail to BusinessWorld, Robinsons Bank -- the country's 28th
largest bank in terms of assets -- said it secured last Dec. 26 the
Monetary Board's green light to acquire "a controlling interest" in
Legazpi Savings Bank.
Legazpi Savings Bank, which had assets amounting P2 billion as of
September, was majority owned by Albay Representative Al Francis C.
Bichara. The bank has 11 branches in the Bicol Region.
"Robinsons Bank plans to utilize the capacity and branch network of
Legazpi Savings Bank as its vehicle to engage in countryside banking and
microfinance lending," Robinsons Bank President and Chief Executive
Officer Reynold Y. Gerongay said in the e-mail.
He declined to disclose the acquisition price.
Robinsons Bank extends microfinance loans through "SUPERLoan ng Bayan,"
a microfinance program targeting small- and medium-scale entrepreneurs.
The acquisition, Mr. Gerongay said, will give Robinsons Bank the
opportunity to boost its microfinance business and to strengthen and
expand its presence in the Bicol Region.
Legazpi Savings Bank extends "barangay business" loans and "market
vendors" loans, among other loan products, according to its website.
Robinsons Bank booked a net income of P353.5 million as of September, up
23.34% from the P286.6 million recorded in the same period last year,
due to hefty trading gains.
Banks are now training their sights on small and medium enterprises amid
low income growth from corporate lending and highly variable gains from
trading.
Robinsons Bank is a subsidiary of listed JG Summit Holdings, Inc. It
used to be a thrift bank until it purchased the Royal Bank of Scotland
(Philippines) from The Royal Bank of Scotland Plc and the Royal Bank of
Scotland N.V. through a share purchase agreement in February 2010.
A commercial banking license and several branches came with the
purchase, which was approved by the central bank and the Securities and
Exchange Commission on Dec. 9, 2010 and on May 25, 2011, respectively.
Lance Y. Gokongwei, Robinsons Bank chairman, in the same e-mail
concurred with Mr. Gerongay saying: "[Our] investment in Legazpi Savings
Bank is part of our plans to reach out to a wider market. Robinsons Bank
Corp. and JG Summit Holdings are always on the lookout for viable
opportunities for growth, and this investment shows our commitment to
being a strategic player in the industry."
For his part, Mr. Bichara, in the same e-mail, said: "We highly welcome
this investment by Robinsons Bank. It is good to know that Legazpi
Savings Bank will now be part of a big conglomerate to the benefit of
businesses and people in Albay as well as neighboring provinces in the
Bicol region."
Mr. Gerongay said the name of Legazpi Savings Bank will be retained as
the savings bank has a "good franchise" in Bicol.
Since the acquisition was under the Bangko Sentral and the Philippine
Deposit Insurance Corp.'s (PDIC) Strengthening Program for Rural Banks
Plus program, Robinsons Bank will be allowed to put up branches in
restricted areas in Metro Manila.
SPRB Plus program, is an enhancement of SPRB, a P5-billion program
initiated by the central bank and the PDIC in August 2010 to encourage
healthy rural banks to come to the aid of troubled peers. Under the new
program, universal and commercial banks may take over ailing rural or
thrift banks.
Asked if Robinsons Bank will add more branches to Legazpi Savings Bank,
Mr. Gerongay answered, "We'll do a lot of housekeeping first."
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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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Friday, December 28, 2012
Households Remain Prime Savers – BSP
Households Remain Prime Savers – BSP
By LEE C. CHIPONGIAN
December 27, 2012, 4:48pm
The Bangko Sentral ng Pilipinas (BSP) said the household sector remains
to be the prime saver in the economy for the last four years, partly
because of foreign exchange remittances and perception of improved labor
conditions.
In its latest flow of funds (FOF) data for 2011, the BSP reported that
the household sector registered savings of P909.8 billion or an increase
of 6.3 percent over 2010 figures. The BSP said this rate of savings
growth may be attributed to inflows from funds sent home by overseas
Filipinos.
Last year, the total domestic savings went up 6.8 percent to P1.854
trillion. "The economy's savings momentum is sustained, notwithstanding
challenges on the external front," noted the BSP.
The second biggest savers in the economy are the non-financial
corporations sector with P672.5 billion, mainly profits from the
services sectors.
The general government sector, in the meantime posted the highest growth
in savings at 65.3 percent at P193.6 billion while the National
Government's (NG) position reversed from a "dissaving" of P17.6 billion
in 2010 to a savings of P28.8 billion in 2011, the BSP reported.
As for the financial sector's savings, this dropped to P78.4 billion
because of "large benefit payments" by the life insurance industry along
with the higher interest payments by the BSP.
The FOF as reported by the central bank is a summary of financial
transactions among the different institutions of the economy, and
between these institutions and the rest of the world. It identifies
which institutions are net borrowers and net lenders after a series of
financial transactions for the year. There are four categories:
financial corporations, non-financial corporations, the general
government, and the households.
In 2011, the economy's capital accumulation grew by 16.2 percent to
P1.544 trillion. The household sector was the biggest accumulator of
capital at P661.4 billion but sector's real investments grew only 12
percent compared to 2010's 31.1 percent because of the lower demand for
residential condominiums.
The non-financial corporations sector's real investments in the meantime
increased 53.2 percent which the BSP described as a "mixed investment
sentiments across sub-sectors." The growth of private companies' real
investments slowed down to 9.4 percent from 72.9 percent due to weak
global economic growth.
The BSP also said that in 2011, all sectors were considered net lenders,
except for the general government.
"The household sector regained the top net lender position at P248.4
billion, with currency and deposits as the desired form of asset
accumulation (while) the non-financial corporation sector's net fund
provision fell by 70.8 percent to P79.7 billion, with accounts
receivables as the dominant financial instrument," the report said.
The financial sector's net lending grew by 19.9 percent to P38.1 billion
as the combined increase in net lending of banks and the insurance
sector outweighed the BSP's net borrowing, said the central bank.
The domestic economy's net lending vis-à-vis the rest of the world on
the other hand, fell by 23.9 percent to P309.5 billion. The BSP said
this is as "growth in capital accumulation outpaced the growth in total
savings."5:17 AM 12/28/2012
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By LEE C. CHIPONGIAN
December 27, 2012, 4:48pm
The Bangko Sentral ng Pilipinas (BSP) said the household sector remains
to be the prime saver in the economy for the last four years, partly
because of foreign exchange remittances and perception of improved labor
conditions.
In its latest flow of funds (FOF) data for 2011, the BSP reported that
the household sector registered savings of P909.8 billion or an increase
of 6.3 percent over 2010 figures. The BSP said this rate of savings
growth may be attributed to inflows from funds sent home by overseas
Filipinos.
Last year, the total domestic savings went up 6.8 percent to P1.854
trillion. "The economy's savings momentum is sustained, notwithstanding
challenges on the external front," noted the BSP.
The second biggest savers in the economy are the non-financial
corporations sector with P672.5 billion, mainly profits from the
services sectors.
The general government sector, in the meantime posted the highest growth
in savings at 65.3 percent at P193.6 billion while the National
Government's (NG) position reversed from a "dissaving" of P17.6 billion
in 2010 to a savings of P28.8 billion in 2011, the BSP reported.
As for the financial sector's savings, this dropped to P78.4 billion
because of "large benefit payments" by the life insurance industry along
with the higher interest payments by the BSP.
The FOF as reported by the central bank is a summary of financial
transactions among the different institutions of the economy, and
between these institutions and the rest of the world. It identifies
which institutions are net borrowers and net lenders after a series of
financial transactions for the year. There are four categories:
financial corporations, non-financial corporations, the general
government, and the households.
In 2011, the economy's capital accumulation grew by 16.2 percent to
P1.544 trillion. The household sector was the biggest accumulator of
capital at P661.4 billion but sector's real investments grew only 12
percent compared to 2010's 31.1 percent because of the lower demand for
residential condominiums.
The non-financial corporations sector's real investments in the meantime
increased 53.2 percent which the BSP described as a "mixed investment
sentiments across sub-sectors." The growth of private companies' real
investments slowed down to 9.4 percent from 72.9 percent due to weak
global economic growth.
The BSP also said that in 2011, all sectors were considered net lenders,
except for the general government.
"The household sector regained the top net lender position at P248.4
billion, with currency and deposits as the desired form of asset
accumulation (while) the non-financial corporation sector's net fund
provision fell by 70.8 percent to P79.7 billion, with accounts
receivables as the dominant financial instrument," the report said.
The financial sector's net lending grew by 19.9 percent to P38.1 billion
as the combined increase in net lending of banks and the insurance
sector outweighed the BSP's net borrowing, said the central bank.
The domestic economy's net lending vis-à-vis the rest of the world on
the other hand, fell by 23.9 percent to P309.5 billion. The BSP said
this is as "growth in capital accumulation outpaced the growth in total
savings."5:17 AM 12/28/2012
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Monday, December 17, 2012
BSP: Fewer households allot remittances for savings
BSP: Fewer households allot remittances for savings
By Michelle V. Remo
Philippine Daily Inquirer
3:02 am | Monday, December 17th, 2012
The proportion of Filipino households that set aside remittances for
savings and investments dropped in the fourth quarter from a year ago,
highlighting the need to provide financial education to more people in
the country.
The Bangko Sentral ng Pilipinas said that households dependent on
remittances would need to learn how to save and invest the money they
receive to secure their future and stimulate growth of the economy.
Results of the latest quarterly BSP survey showed that only 39.5 percent
of respondents said they used a portion of their money for savings. This
marked a drop from the 42.6 percent recorded in the same period last year.
Still, the fourth-quarter figure was better than the 36.8 percent
recorded in the previous survey three months ago.
Results also showed that respondents who said they used a portion of
their money for investments settled at just 3.1 percent.
This represented a decline from the 6.4 percent registered a year ago,
and the 4.9 percent of the previous quarter.
The survey was conducted in the first two weeks of October and had a
sample of size of 478 households that regularly receive money from abroad.
The drop in the number of households that save up and invest the money
received coincided with the current low-interest-rate environment, which
led to shrinking yields on bank deposits and portfolio investments.
Economists said that in times of low interest rates, people tend to
spend more of their money rather than save up or invest in fixed-income
securities.
BSP Deputy Governor Diwa Guinigundo earlier said that if OFW households
were to use their money to put up their own businesses, the multiplier
effect of remittances on the economy would be much bigger. This is
because, when one puts up a business, even a small one, he or she will
create jobs.
At least 10 million Filipinos are estimated to be working overseas.
Their remittances amounted to $20.1 billion last year. The World Bank
expects remittances to the Philippines to rise to $24 billion this year,
making it the third-biggest recipient next to India and China, with $70
billion and $66 billion, respectively.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By Michelle V. Remo
Philippine Daily Inquirer
3:02 am | Monday, December 17th, 2012
The proportion of Filipino households that set aside remittances for
savings and investments dropped in the fourth quarter from a year ago,
highlighting the need to provide financial education to more people in
the country.
The Bangko Sentral ng Pilipinas said that households dependent on
remittances would need to learn how to save and invest the money they
receive to secure their future and stimulate growth of the economy.
Results of the latest quarterly BSP survey showed that only 39.5 percent
of respondents said they used a portion of their money for savings. This
marked a drop from the 42.6 percent recorded in the same period last year.
Still, the fourth-quarter figure was better than the 36.8 percent
recorded in the previous survey three months ago.
Results also showed that respondents who said they used a portion of
their money for investments settled at just 3.1 percent.
This represented a decline from the 6.4 percent registered a year ago,
and the 4.9 percent of the previous quarter.
The survey was conducted in the first two weeks of October and had a
sample of size of 478 households that regularly receive money from abroad.
The drop in the number of households that save up and invest the money
received coincided with the current low-interest-rate environment, which
led to shrinking yields on bank deposits and portfolio investments.
Economists said that in times of low interest rates, people tend to
spend more of their money rather than save up or invest in fixed-income
securities.
BSP Deputy Governor Diwa Guinigundo earlier said that if OFW households
were to use their money to put up their own businesses, the multiplier
effect of remittances on the economy would be much bigger. This is
because, when one puts up a business, even a small one, he or she will
create jobs.
At least 10 million Filipinos are estimated to be working overseas.
Their remittances amounted to $20.1 billion last year. The World Bank
expects remittances to the Philippines to rise to $24 billion this year,
making it the third-biggest recipient next to India and China, with $70
billion and $66 billion, respectively.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Most OFW families spend remittances on food – BSP
Most OFW families spend remittances on food – BSP
Published on 17 December 2012 Hits: 145 Written by RAADEE S. SAUSA
Of the 478 households that received overseas Filipino workers (OFW)
remittances in fourth quarter 2012, 95.4 percent used them for food,
according to the latest Consumer Expectations Survey (CES) of the Bangko
Sentral ng Pilipinas (BSP).
The central bank said over the weekend that almost 70 percent of the
households (68.8 percent) surveyed allocated their remittances for
education, 65.5 percent for medical payments and 44.1 percent for debt
payments.
Rosabel Guerrero, director of the BSP-Department of Economic Statistics
said that "the percentage of OFW households that utilized their
remittances for savings increased to 39.5 percent [from 36.8 percent in
third quarter 2012], while those that apportioned part of their
remittances for investment [i.e., business capital or stocks] declined
to 3.1 percent [from 4.9 percent in third quarter 2012 survey]."
"Also, the percentage that utilized part of their remittances to
purchase consumer durables, houses and lots, and motor vehicles
decreased compared to the previous quarter's results," she added.
However, the survey further noted that consumers had a more favorable
view on the employment situation as the unemployment rate index dropped
to 40.7 percent from 46.8 percent in third quarter 2012.
Guerrero added that fewer respondents expected interest rates and prices
to go up in the next 12 months.
"Respondents anticipated inflation to decline to 7 percent from 7.5
percent in third quarter 2012, reflecting their outlook of more stable
prices for the next quarter and the year ahead. These are consistent
with the declining trend in inflation figures for fourth quarter 2012
relative to third quarter 2012," she said.
Meanwhile, BSP added that consumers anticipate that the peso would
continue to appreciate against the US dollar in the year ahead, in line
with expectations of continued strong inflows of foreign exchange from
foreign direct and portfolio investments and business process
outsourcing services.
For fourth quarter 2012, the CES was conducted during the period October
1 to 12, 2012 with a total sample size of 5,789 households, of which
2,961 (51.1 percent) were from the National Capital Region (Metro
Manila) and 2,828 (48.9 percent) from the areas outside the NCR.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Published on 17 December 2012 Hits: 145 Written by RAADEE S. SAUSA
Of the 478 households that received overseas Filipino workers (OFW)
remittances in fourth quarter 2012, 95.4 percent used them for food,
according to the latest Consumer Expectations Survey (CES) of the Bangko
Sentral ng Pilipinas (BSP).
The central bank said over the weekend that almost 70 percent of the
households (68.8 percent) surveyed allocated their remittances for
education, 65.5 percent for medical payments and 44.1 percent for debt
payments.
Rosabel Guerrero, director of the BSP-Department of Economic Statistics
said that "the percentage of OFW households that utilized their
remittances for savings increased to 39.5 percent [from 36.8 percent in
third quarter 2012], while those that apportioned part of their
remittances for investment [i.e., business capital or stocks] declined
to 3.1 percent [from 4.9 percent in third quarter 2012 survey]."
"Also, the percentage that utilized part of their remittances to
purchase consumer durables, houses and lots, and motor vehicles
decreased compared to the previous quarter's results," she added.
However, the survey further noted that consumers had a more favorable
view on the employment situation as the unemployment rate index dropped
to 40.7 percent from 46.8 percent in third quarter 2012.
Guerrero added that fewer respondents expected interest rates and prices
to go up in the next 12 months.
"Respondents anticipated inflation to decline to 7 percent from 7.5
percent in third quarter 2012, reflecting their outlook of more stable
prices for the next quarter and the year ahead. These are consistent
with the declining trend in inflation figures for fourth quarter 2012
relative to third quarter 2012," she said.
Meanwhile, BSP added that consumers anticipate that the peso would
continue to appreciate against the US dollar in the year ahead, in line
with expectations of continued strong inflows of foreign exchange from
foreign direct and portfolio investments and business process
outsourcing services.
For fourth quarter 2012, the CES was conducted during the period October
1 to 12, 2012 with a total sample size of 5,789 households, of which
2,961 (51.1 percent) were from the National Capital Region (Metro
Manila) and 2,828 (48.9 percent) from the areas outside the NCR.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Wednesday, December 12, 2012
PH gets addt'l $100-M from WB for CCT program
PH gets addt'l $100-M from WB for CCT program
ABS-CBNnews.com
Posted at 12/12/2012 12:24 PM | Updated as of 12/12/2012 12:25 PM
MANILA, Philippines - The World Bank has extended an additional $100
million for the Philippines' conditional cash transfer (CCT) program.
"Close to 200,000 more poor households will have cash incentives to keep
their children in school and in good health with the approval today of
the $100 million additional financing for the Philippines' conditional
cash transfer program," World Bank said in a statement on Wednesday.
Around 3 million Filipino households receive subsidies from the CCT
program dubbed as Pantawid Pamilya, which is part of the Department of
Social Welfare and Development's (DSWD) social welfare and development
reform project.
Families included in the Pantawid Pamilya are to keep their children
ages 0 to 14 in school and to bring them to health clinics for regular
check-ups. Pregnant women are also asked to get proper pre-natal and
post-natal care, with their deliveries expected to be attended by health
professionals.
"International experience shows that CCT contributes towards reducing
inequality. Combined with high and sustained economic growth, CCT as a
form of social safety net provides an equitable foundation for inclusive
growth - growth that works for the poor," Motoo Konishi, WB country
director for the Philippines, said in a statement.
"Over 30 countries worldwide are implementing CCT programs. These kinds
of initiatives are among the fastest growing social safety net programs
in the world today," he added.
DSWD Secretary Corazon "Dinky" Soliman, for her part, welcomed the
additional financing for the CCT program.
"The additional financing for Pantawid Pamilya will enable us to expand
the program and include more poor households who are vulnerable and
marginalized. Pantawid Pamilya helps poor households meet their
immediate needs including food, but it's also our society's investment
in the education and health of our children," she said in the statement.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
ABS-CBNnews.com
Posted at 12/12/2012 12:24 PM | Updated as of 12/12/2012 12:25 PM
MANILA, Philippines - The World Bank has extended an additional $100
million for the Philippines' conditional cash transfer (CCT) program.
"Close to 200,000 more poor households will have cash incentives to keep
their children in school and in good health with the approval today of
the $100 million additional financing for the Philippines' conditional
cash transfer program," World Bank said in a statement on Wednesday.
Around 3 million Filipino households receive subsidies from the CCT
program dubbed as Pantawid Pamilya, which is part of the Department of
Social Welfare and Development's (DSWD) social welfare and development
reform project.
Families included in the Pantawid Pamilya are to keep their children
ages 0 to 14 in school and to bring them to health clinics for regular
check-ups. Pregnant women are also asked to get proper pre-natal and
post-natal care, with their deliveries expected to be attended by health
professionals.
"International experience shows that CCT contributes towards reducing
inequality. Combined with high and sustained economic growth, CCT as a
form of social safety net provides an equitable foundation for inclusive
growth - growth that works for the poor," Motoo Konishi, WB country
director for the Philippines, said in a statement.
"Over 30 countries worldwide are implementing CCT programs. These kinds
of initiatives are among the fastest growing social safety net programs
in the world today," he added.
DSWD Secretary Corazon "Dinky" Soliman, for her part, welcomed the
additional financing for the CCT program.
"The additional financing for Pantawid Pamilya will enable us to expand
the program and include more poor households who are vulnerable and
marginalized. Pantawid Pamilya helps poor households meet their
immediate needs including food, but it's also our society's investment
in the education and health of our children," she said in the statement.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
CRS to launch marketing project for Mindanao farmers
CRS to launch marketing project for Mindanao farmers
Thursday, June 7, 2012
THE Catholic Relief Services (CRS) will launch Friday a three-year
resource strengthening and marketing project to benefit 32,000 farmers
in seven provinces in Mindanao.
The implementation of the "Farmer Alliances for Resource Strengthening
and Marketing" or Farm project of CRS will have its formal start on the
said date at the Apo View Hotel this city.
With funding from the United States Department of Agriculture (USDA),
Farm will assist its target farmer-beneficiaries in the provinces of
Misamis Oriental, North Cotabato, Maguindanao, Sultan Kudarat,
Sarangani, Davao del Sur, and Bukidnon.
Ryan Russell, CRS head of office, said the project intends to increase
agricultural production in rice, cacao, coffee and vegetables; enable
access to small rural infrastructures; and enhance linkages to greater
market opportunities.
CRS will implement the project with local NGO partners, academic
institutions, micro-finance institutions, and government line agencies,
Russell stated.
At the launching, there will be a Memoranda of Agreement (MOA) signing
involving CRS and eight sub-recipient agencies from the non-government
organizations and academe that will serve as direct implementing
partners for the Farm project.
The expected guests at the event are the following: Rene Guarin, CRS
program manager for operations; Joseph Curry, CRS country
representative; Philip Shull, USDA agricultural counselor; and Pedro
Terry Tuason III, CRS senior program manager.
Senator Francis Pangilinan and officials from the Department of
Agriculture (DA), Department of Agrarian Reform (DAR), Mindanao
Development Authority (MinDA) and the National Livelihood Development
Corp. (NLDC) are also expected to grace the event.
Partner NGOs and private firms such as Nestle Philippines, MARS
Chocolate, and the Agricultural Cooperative Development
International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA)
are also part of the launching.
According to its primer, CRS is the international humanitarian agency of
the Catholic community in the United States that provides assistance to
people in more than 100 countries and territories based on need,
regardless of race and nationality or creed.
CRS has been in the Philippines since 1945. (PIA)
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Thursday, June 7, 2012
THE Catholic Relief Services (CRS) will launch Friday a three-year
resource strengthening and marketing project to benefit 32,000 farmers
in seven provinces in Mindanao.
The implementation of the "Farmer Alliances for Resource Strengthening
and Marketing" or Farm project of CRS will have its formal start on the
said date at the Apo View Hotel this city.
With funding from the United States Department of Agriculture (USDA),
Farm will assist its target farmer-beneficiaries in the provinces of
Misamis Oriental, North Cotabato, Maguindanao, Sultan Kudarat,
Sarangani, Davao del Sur, and Bukidnon.
Ryan Russell, CRS head of office, said the project intends to increase
agricultural production in rice, cacao, coffee and vegetables; enable
access to small rural infrastructures; and enhance linkages to greater
market opportunities.
CRS will implement the project with local NGO partners, academic
institutions, micro-finance institutions, and government line agencies,
Russell stated.
At the launching, there will be a Memoranda of Agreement (MOA) signing
involving CRS and eight sub-recipient agencies from the non-government
organizations and academe that will serve as direct implementing
partners for the Farm project.
The expected guests at the event are the following: Rene Guarin, CRS
program manager for operations; Joseph Curry, CRS country
representative; Philip Shull, USDA agricultural counselor; and Pedro
Terry Tuason III, CRS senior program manager.
Senator Francis Pangilinan and officials from the Department of
Agriculture (DA), Department of Agrarian Reform (DAR), Mindanao
Development Authority (MinDA) and the National Livelihood Development
Corp. (NLDC) are also expected to grace the event.
Partner NGOs and private firms such as Nestle Philippines, MARS
Chocolate, and the Agricultural Cooperative Development
International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA)
are also part of the launching.
According to its primer, CRS is the international humanitarian agency of
the Catholic community in the United States that provides assistance to
people in more than 100 countries and territories based on need,
regardless of race and nationality or creed.
CRS has been in the Philippines since 1945. (PIA)
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Tuesday, December 11, 2012
PHL must sustain 6% to 8% growth for a decade to eradicate poverty
PHL must sustain 6% to 8% growth for a decade to eradicate poverty
Published on Monday, 10 December 2012 20:50 Written by Butch Fernandez /
Reporter
SEN. Francis Pangilinan on Monday underscored the need for "inclusive
and sustainable growth" as the Aquino administration continues to rally
support for good governance and fiscal measures, buoyed by the
7.1-percent growth in the third quarter of 2012.
"While there is cause for us to be thankful for the 7.1-percent growth
experienced in the third quarter, we must be mindful that we have been
there before," Pangilinan said even as he added that "more than simply
reaching such growth rates from time to time is the question of
sustaining it."
In a statement, the senator acknowledged the elation of administration
officials following reports that the resurgent economy was recently
recorded as the second-fastest growing in Asia next only to China, which
grew by 7.7 percent in the third quarter of 2012.
Pangilinan said that the growth was fueled by "the robust performances
of transport, storage and communication, financial intermediation and
real estate."
The business-process outsourcing, manufacturing, construction and
agriculture industries also contributed largely to this growth, coupled
with higher remittances from overseas Filipino workers and increased
domestic consumption, he added.
The senator suggested that the country needs "at least a decade of
6-percent to 8-percent growth to truly eradicate poverty."
"To do this we must create jobs here at home and increase incomes of the
poorest of the poor in key sectors such as agriculture, tourism and
infrastructure. Only then can we ensure growth that is both inclusive
and sustainable," he said.
Pangilinan chairs the Senate Committees on Agriculture and Food, and
Social Justice, Welfare, and Rural Development which is crafting
remedial legislation that would pave the way for increased investments
in agriculture and social safety nets for farmers, fisherfolk, and
marginalized workers "in order to increase incomes and improve the
overall quality of life for millions of Filipinos," he added.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Published on Monday, 10 December 2012 20:50 Written by Butch Fernandez /
Reporter
SEN. Francis Pangilinan on Monday underscored the need for "inclusive
and sustainable growth" as the Aquino administration continues to rally
support for good governance and fiscal measures, buoyed by the
7.1-percent growth in the third quarter of 2012.
"While there is cause for us to be thankful for the 7.1-percent growth
experienced in the third quarter, we must be mindful that we have been
there before," Pangilinan said even as he added that "more than simply
reaching such growth rates from time to time is the question of
sustaining it."
In a statement, the senator acknowledged the elation of administration
officials following reports that the resurgent economy was recently
recorded as the second-fastest growing in Asia next only to China, which
grew by 7.7 percent in the third quarter of 2012.
Pangilinan said that the growth was fueled by "the robust performances
of transport, storage and communication, financial intermediation and
real estate."
The business-process outsourcing, manufacturing, construction and
agriculture industries also contributed largely to this growth, coupled
with higher remittances from overseas Filipino workers and increased
domestic consumption, he added.
The senator suggested that the country needs "at least a decade of
6-percent to 8-percent growth to truly eradicate poverty."
"To do this we must create jobs here at home and increase incomes of the
poorest of the poor in key sectors such as agriculture, tourism and
infrastructure. Only then can we ensure growth that is both inclusive
and sustainable," he said.
Pangilinan chairs the Senate Committees on Agriculture and Food, and
Social Justice, Welfare, and Rural Development which is crafting
remedial legislation that would pave the way for increased investments
in agriculture and social safety nets for farmers, fisherfolk, and
marginalized workers "in order to increase incomes and improve the
overall quality of life for millions of Filipinos," he added.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Sunday, December 2, 2012
Why do many go to pawnshops more than banks?
Why do many go to pawnshops more than banks?
By Michelle V. Remo
6:52 pm | Saturday, December 1st, 2012
CEBUANA Lhuillier has a branch on Chino Roces Avenue. PHOTO BY EDWIN
BELLOSILLO
For many Filipinos, pawning jewelry at a neighborhood pawnshop has been
the most common and quickest way to address an urgent need for
relatively small amounts of cash.
Compared with banks, pawnshops do not impose as many documentary
requirements before releasing cash to customers. Moreover, the latter
are more accessible, as they may be found even in remote areas where
banks do not operate.
But despite the essential role these financial-service providers play,
pawnshops still suffer from a bad reputation of preying on middle- and
low-income Filipinos. The perception remains that pawnshops have a
tendency to take advantage of people in need of cash through
profiteering, and that many of them are fly-by-night operators that
steal pawned jewelry.
The Bangko Sentral ng Pilipinas, which has a division dedicated to
regulating pawnshops, agrees that the pawnshop industry continues to
suffer a stigma. It admits that it receives complaints involving
pawnshops from time to time, usually in terms of operators that suddenly
disappear without notifying customers about how they could get their
pawned assets back.
The BSP, however, says the proportion of erring pawnshops to the total
number of industry players is miniscule. Ma. Belinda Caraan,
officer-in-charge of the central bank's integrated supervision
department, says the number of pawnshop branches that have been the
subject of complaints is equivalent to less than 5 percent of the
industry's network.
The pawnshop industry has a network of nearly 17,000, which include head
offices and branches. Of the number, about 10,000 are engaged solely in
the pawning business. The rest also operate auxiliary businesses, such
as money changing, remittance facilitation, and bills payment facilitation.
MOA with LGUs
"Until now, there is still the negative view that pawnshops prey on
consumers. We want to help the industry change its image," Caraan tells
SundayBiz.
To do the task, Caraan says, the BSP is intensifying its coordination
with local government units (LGUs) as far as monitoring pawnshops is
concerned.
She says that under a recently updated memorandum of agreement (MOA)
between the central bank and the Department of the Interior on Local
Government (DILG), the two government institutions shall engage in
information sharing for the purpose of better regulation of pawnshops.
Caraan says constant enhancement of regulation, with the aim of bringing
down the number of erring or fraudulent pawnshops to almost zero, will
help improve the public image of the pawnshop industry.
In one of the central bank's latest initiatives, its representatives,
with assistance from LGUs, conducts random visits of pawnshops all over
the country. The BSP targets to cover 500 pawnshops until 2015, and an
even larger number in the succeeding years.
In the spot visits, Caraan says, BSP representatives check if a pawnshop
is duly registered and if it complies with various regulations.
Caraan says most of the pawnshops that have been the subject of
complaints are not registered businesses. She advises people planning to
pawn a property to first check the website of the BSP to see if the
pawnshop to be visited is registered.
Training
The BSP likewise holds training seminars for pawnshop operators and
their staff. She says such training is conducted at least once a month
by BSP personnel all over the country. The training covers a wide range
of topics, including ethical business behaviors, valuation of assets,
and detection of money-laundering activities, among others.
Training helps improve the manner of service delivery by pawnshops,
Caraan says.
"We like people to develop a positive view of pawnshops. We want the
public to perceive pawnshops not only as accessible, but as reliable and
trustworthy providers of financial services," Caraan says.
Service providers
Minda (not her real name), an employee at Palawan Pawnshop in
Mandaluyong City, says in a random interview with SundayBiz that
pawnshops must be perceived positively given the vital role they play in
meeting short-term financial needs of many Filipinos.
"For many Filipinos who are short of cash, pawning is the easiest way to
solve their problem. It is much easier to raise money through pawning
than securing a bank loan," she says in Filipino.
She says the pawnshop she works for receives between one and six
customers, mostly from the neighborhood, pawning jewelry in a day.
Janet, a mother in her 50s and who has been a pawnshop customer, says
pawning has been a reliable means to meet her immediate need for cash.
"For instance, if there is an urgent requirement for house repair and I
fall short of cash, all I have to do is visit the nearest pawnshop,"
Janet says. "It is not advisable to go to a bank and try meeting all its
requirements if what you need is just a small amount of money," she adds.
Expanded role
Because of their wide reach, pawnshops are identified by the BSP as
entities for "financial inclusion." The term refers to the act of making
various financial services (such as payment facilitation, remittance
facilitation, money changing, micro loans, and micro insurance)
accessible even to people in far-flung areas.
A study by the BSP released earlier this year said only two out of 10
Filipinos have bank accounts. The BSP said the information is an
indication that banking services are still mostly concentrated in urban
areas and are not reaching most Filipinos in rural communities.
Caraan says, however, that pawnshops are capable of filling the gap.
Unlike a bank, a pawnshop is much easier to put up. This is the reason
they are much bigger in number compared with banks. While there are
nearly 17,000 pawnshop head offices and branches in the country, there
are only about 9,000 bank head offices and branches.
The wider reach of pawnshops is largely credited to the ease in putting
them up. Compared with a bank, a pawnshop requires less space, less
staff, and needs much less capital (each pawnshop branch is required by
the BSP to have a capitalization of just P100,000), according to Caraan.
"There is a push for financial inclusion, and pawnshops are seen to help
achieve the goal of having more Filipinos access financial services,"
Caraan says.
Some of the auxiliary services that many pawnshops now offer include
remittances facilitation, money changing, and bills payment
facilitation. Moreover, a few also now serve as "cash in-cash out
centers" and offer mobile banking services.
Under the mobile banking concept, an individual may open an electronic
account with a "cash in-cash out center" (which may be a pawnshop) for a
measly amount, usually P100. To open an account, the individual fills
out a form with the cash in-cash out center and registers his cellular
phone number.
Once an account has been opened, the individual may place a deposit by
buying a "mobile phone load" from the cash in-cash out center. He will
then encode details of the "load" to his electronic account using his
cellular phone.
Moreover, an individual with a mobile banking account may also receive
money. If someone (who must also have a mobile banking account) sends
money to the recipient's account, the latter shall be notified through
text. The recipient may then go to a cash in-cash out center to get his
cash.
The BSP said that as the practice of mobile banking further develops,
the number of Filipinos that do not access financial services and that
do not have bank accounts is expected to diminish over the next few years.
Besides providing mobile banking services for low-income Filipinos,
Caraan says, pawnshops in the future may also provide other financial
services. With proper regulatory framework, the BSP believes there is
scope for pawnshops to also sell micro insurance and provide micro
credit, she says.
"They serve the important role of making financial services—and even
more kinds of such services in the future—reach the poor and those who
reside in remote areas. Indeed, pawnshops are important to the economy,"
Caraan says.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By Michelle V. Remo
6:52 pm | Saturday, December 1st, 2012
CEBUANA Lhuillier has a branch on Chino Roces Avenue. PHOTO BY EDWIN
BELLOSILLO
For many Filipinos, pawning jewelry at a neighborhood pawnshop has been
the most common and quickest way to address an urgent need for
relatively small amounts of cash.
Compared with banks, pawnshops do not impose as many documentary
requirements before releasing cash to customers. Moreover, the latter
are more accessible, as they may be found even in remote areas where
banks do not operate.
But despite the essential role these financial-service providers play,
pawnshops still suffer from a bad reputation of preying on middle- and
low-income Filipinos. The perception remains that pawnshops have a
tendency to take advantage of people in need of cash through
profiteering, and that many of them are fly-by-night operators that
steal pawned jewelry.
The Bangko Sentral ng Pilipinas, which has a division dedicated to
regulating pawnshops, agrees that the pawnshop industry continues to
suffer a stigma. It admits that it receives complaints involving
pawnshops from time to time, usually in terms of operators that suddenly
disappear without notifying customers about how they could get their
pawned assets back.
The BSP, however, says the proportion of erring pawnshops to the total
number of industry players is miniscule. Ma. Belinda Caraan,
officer-in-charge of the central bank's integrated supervision
department, says the number of pawnshop branches that have been the
subject of complaints is equivalent to less than 5 percent of the
industry's network.
The pawnshop industry has a network of nearly 17,000, which include head
offices and branches. Of the number, about 10,000 are engaged solely in
the pawning business. The rest also operate auxiliary businesses, such
as money changing, remittance facilitation, and bills payment facilitation.
MOA with LGUs
"Until now, there is still the negative view that pawnshops prey on
consumers. We want to help the industry change its image," Caraan tells
SundayBiz.
To do the task, Caraan says, the BSP is intensifying its coordination
with local government units (LGUs) as far as monitoring pawnshops is
concerned.
She says that under a recently updated memorandum of agreement (MOA)
between the central bank and the Department of the Interior on Local
Government (DILG), the two government institutions shall engage in
information sharing for the purpose of better regulation of pawnshops.
Caraan says constant enhancement of regulation, with the aim of bringing
down the number of erring or fraudulent pawnshops to almost zero, will
help improve the public image of the pawnshop industry.
In one of the central bank's latest initiatives, its representatives,
with assistance from LGUs, conducts random visits of pawnshops all over
the country. The BSP targets to cover 500 pawnshops until 2015, and an
even larger number in the succeeding years.
In the spot visits, Caraan says, BSP representatives check if a pawnshop
is duly registered and if it complies with various regulations.
Caraan says most of the pawnshops that have been the subject of
complaints are not registered businesses. She advises people planning to
pawn a property to first check the website of the BSP to see if the
pawnshop to be visited is registered.
Training
The BSP likewise holds training seminars for pawnshop operators and
their staff. She says such training is conducted at least once a month
by BSP personnel all over the country. The training covers a wide range
of topics, including ethical business behaviors, valuation of assets,
and detection of money-laundering activities, among others.
Training helps improve the manner of service delivery by pawnshops,
Caraan says.
"We like people to develop a positive view of pawnshops. We want the
public to perceive pawnshops not only as accessible, but as reliable and
trustworthy providers of financial services," Caraan says.
Service providers
Minda (not her real name), an employee at Palawan Pawnshop in
Mandaluyong City, says in a random interview with SundayBiz that
pawnshops must be perceived positively given the vital role they play in
meeting short-term financial needs of many Filipinos.
"For many Filipinos who are short of cash, pawning is the easiest way to
solve their problem. It is much easier to raise money through pawning
than securing a bank loan," she says in Filipino.
She says the pawnshop she works for receives between one and six
customers, mostly from the neighborhood, pawning jewelry in a day.
Janet, a mother in her 50s and who has been a pawnshop customer, says
pawning has been a reliable means to meet her immediate need for cash.
"For instance, if there is an urgent requirement for house repair and I
fall short of cash, all I have to do is visit the nearest pawnshop,"
Janet says. "It is not advisable to go to a bank and try meeting all its
requirements if what you need is just a small amount of money," she adds.
Expanded role
Because of their wide reach, pawnshops are identified by the BSP as
entities for "financial inclusion." The term refers to the act of making
various financial services (such as payment facilitation, remittance
facilitation, money changing, micro loans, and micro insurance)
accessible even to people in far-flung areas.
A study by the BSP released earlier this year said only two out of 10
Filipinos have bank accounts. The BSP said the information is an
indication that banking services are still mostly concentrated in urban
areas and are not reaching most Filipinos in rural communities.
Caraan says, however, that pawnshops are capable of filling the gap.
Unlike a bank, a pawnshop is much easier to put up. This is the reason
they are much bigger in number compared with banks. While there are
nearly 17,000 pawnshop head offices and branches in the country, there
are only about 9,000 bank head offices and branches.
The wider reach of pawnshops is largely credited to the ease in putting
them up. Compared with a bank, a pawnshop requires less space, less
staff, and needs much less capital (each pawnshop branch is required by
the BSP to have a capitalization of just P100,000), according to Caraan.
"There is a push for financial inclusion, and pawnshops are seen to help
achieve the goal of having more Filipinos access financial services,"
Caraan says.
Some of the auxiliary services that many pawnshops now offer include
remittances facilitation, money changing, and bills payment
facilitation. Moreover, a few also now serve as "cash in-cash out
centers" and offer mobile banking services.
Under the mobile banking concept, an individual may open an electronic
account with a "cash in-cash out center" (which may be a pawnshop) for a
measly amount, usually P100. To open an account, the individual fills
out a form with the cash in-cash out center and registers his cellular
phone number.
Once an account has been opened, the individual may place a deposit by
buying a "mobile phone load" from the cash in-cash out center. He will
then encode details of the "load" to his electronic account using his
cellular phone.
Moreover, an individual with a mobile banking account may also receive
money. If someone (who must also have a mobile banking account) sends
money to the recipient's account, the latter shall be notified through
text. The recipient may then go to a cash in-cash out center to get his
cash.
The BSP said that as the practice of mobile banking further develops,
the number of Filipinos that do not access financial services and that
do not have bank accounts is expected to diminish over the next few years.
Besides providing mobile banking services for low-income Filipinos,
Caraan says, pawnshops in the future may also provide other financial
services. With proper regulatory framework, the BSP believes there is
scope for pawnshops to also sell micro insurance and provide micro
credit, she says.
"They serve the important role of making financial services—and even
more kinds of such services in the future—reach the poor and those who
reside in remote areas. Indeed, pawnshops are important to the economy,"
Caraan says.
--
---------------------------------------------------------------------
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: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
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