Gov't rolls out digital reform initiatives

Gov't rolls out digital reform initiatives

By Iris C. Gonzales (The Philippine Star) Updated October 10, 2012 12:00
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MANILA, Philippines - The Aquino administration is rolling out various
digital reform initiatives including a cashless purchase system, the
distribution of the Conditional Cash Transfer (CCT) benefits through
mobile phone as well as the shift to electronic banking for the
distribution of benefits to retired military and police personnel, the
Department of Budget and Management (DBM) said yesterday.

Budget Secretary Florencio Abad said that these digital reform measures
reflect the administration's commitment to improved governance. "Since
the beginning of the Aquino administration, we've emphasized our
commitment to improved governance, and it's increasingly clear to us
that Information and Communications Technology (ICT) will be a valuable
instrument in achieving this," Abad said.

He said these initiatives have been well received during the official
launch last month of the Better Than Cash (BTC) Alliance in New York
City, a movement that urges governments to shift to digitization.

Among the administration's digitization programs are the shift to
electronic banking for the distribution of benefits to retired military
and police personnel.

Another initiative is the move to dispense CCT benefits via mobile phone
transactions.

The administration is also pushing for the Cashless Card Purchase
system, which will be piloted by the Department of National Defense (DND).

"This initiative will enable government personnel to use a card linked
to an online system for authorized purchases, and allow easier
monitoring of government transactions, facilitate accurate liquidation
and auditing, and ensure efficient and transparent financial management
in government agencies," he said.

Another initiative is the National Payroll System (NPS), which is
currently tested by six pilot agencies.

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CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
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Sari-sari store owners get lift from Sun Life, Hapinoy

By Tina Arceo-Dumlao
Philippine Daily Inquirer

11:16 pm | Saturday, October 6th, 2012

The sari-sari, or variety, store is among the easiest businesses to get into, such that even the poorest of the poor manage to set up one even with just a few hundred pesos in capital.

But then the sari-sari store might as well be also called the “sara-sara” store because many of these neighborhood stores shut down just a few months after they are opened, and one of the main reasons behind the closure of these ventures is poor financial management.

According to Timothy John Agulto, executive director of MicroVentures Foundation, which manages the Hapinoy microenterprise development program that supports sari-sari stores in the Philippines, the failure to collect credit extended to customers is one of the most common missteps of microentrepreneurs.

Considering how small the profit margin is in sari-sari store operations, failure to collect the debt will have a profound impact as the sari-sari store owner will no longer have enough money to buy more goods to fill the store. Eventually, they crumble under the weight of uncollected credit.

Many sari-sari store owners also fail to develop the habit of listing down basic financial information they need to get a clearer picture of their sari-sari store’s costs, expenses and sales. Because of this oversight, they tend to spend more than they should. Their spending eats into their capital because they think that they are already earning so much. As for savings, it is practically nonexistent.
This vicious cycle of sari-sari stores opening and shutting down is what MicroVentures Foundation and Sun Life Philippines-Foundation want to end through such seminars such as the Sari-Saring Negosyong Training and Masaya’t Masaganang Pamilya and the Community Store Continuing Education Program.

The Sari-Saring Negosyong Training program aims to teach participants best practices in operating their own business, particularly in managing expenses and handling the day-to-day operations of the store. It also includes modules on how to create and organize inventory and the important basics of financial management.

“The challenge for the entrepreneurial poor is not in setting up the sari-sari stores, but rather in keeping them open,” says Agulto. “Through this seminar, we teach the sari-store owners such basics as listing everything down, and noting how much they earned and sold.”

MicroVentures has rolled out the SNTP in Sorsogon, Bulacan and Pandacan in Manila for the small entrepreneurs belonging to the Hapinoy program. Some 500 sari-sari store owners earning about P500 a day have benefited from the training. One of the main lessons the participants learned was how to systematize and organize their stores.

The Masaya’t Masaganang Pamilya seminar, on the other hand, is meant to fill the need to further hone the entrepreneurial skills of the sari-sari store owners, and at the same time, strengthen relationships with their children and especially their spouses, who are usually their partners in running the sari-sari store.

The Community Store Continuing Education Program, meanwhile, is a more intensive program lasting six to 12 months. It is designed to help the more experienced sari-sari store owners level up their operations by becoming more efficient and carrying more than just basic items.

According to Agulto, the first stage of the continuing education program involves improving the efficiency of sari-sari store operations, followed by product diversification so that the owners can sell products such as phone credits, bread, generic medicine and solar lamps that have a higher profit margin.

Sun Life Financial-Philippines Foundation executive director Veron Estrella says the foundation supports the MicroVentures seminars because they contribute to the general thrust of Sun Life to promote financial management in the Philippines.

“We see the partnership as a perfect fit, as it is about embracing the principles of financial management that are also being espoused by our own ‘It’s Time’ financial literacy advocacy,” explains Estrella. “If you see the salient points of the project, each one resonates. Hapinoy or MicroVentures is about empowering challenged families to generate savings.”

Estrella says that Sun Life and MicroVentures started discussing the partnership last year, but was only formalized in March this year. The agreement calls for the provision of a grant from Sun Life to finance the formulation of the training modules and the rollout of the seminars over the next two years.
This way, bo

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COA Audit finds Philippines lost $2.46 billion to anomalies

Audit finds Philippines lost $2.46 billion to anomalies

State auditors say the Philippines lost $2.46 billion through misuse of
state funds and assets during the latter years of Arroyo's rule. (AP)

AGENCE FRANCE PRESSE

Saturday 6 October 2012

Last Update 6 October 2012 2:19 pm

MANILA: The Philippines lost $2.46 billion through misuse of state funds
and assets during the latter years of graft-tainted ex-president Gloria
Arroyo's rule, government auditors said Saturday.

The Commission on Audit highlighted anomalies that mostly occurred in
the 2007-2009 period in its investigation of government agencies last year.

"Most audit findings categorically indicate pecuniary loss on the part
of the government, as a result of violations of law, rules and
regulations," said the report, first posted on its website Saturday.

More than 4,000 cases of unauthorized expenses, unaccounted for cash
advances, uncollected duties, fictitious claims, missing assets, or
abandoned projects, cost the government 101.82 billion pesos ($2.46
billion), it said.

The total is equivalent to 5.6 percent of the country's budget this year.

Its conditional cash transfer program, where poor families get monthly
stipends in exchange for keeping their children in school, could not
account for 3.77 billion pesos.

Two state banks lent large sums unsecured by hard collateral, while
Manila airport left 21 abandoned aircraft parked in an area exposed to
natural elements, leading to their deterioration, despite being given
funding to house them.

Among the biggest items were 1.862 billion pesos in cash advances to two
government treasurers in the impoverished province of Maguindanao and
1.123 billion pesos in payments to "spurious" suppliers to a Muslim
self-rule area.

Chief state auditor Grace Tan said in a letter sent to Manila newspapers
Saturday that the audit covered items mostly relating to accounts prior
to 2010, when Aquino was elected to office on an anti-corruption platform.

"Pecuniary loss does not necessarily result from graft, and it is only
the courts that can make judgment of graft," Tan said.
Aquino has asked a special anti-graft prosecutor to file criminal
charges against people deemed responsible for 744 of the cases, the
auditors said.

The other cases are under investigation.

Arroyo was arrested and detained at a military hospital in Manila on
Thursday after allegedly using diverting 366 million pesos in state
lottery funds meant for charity programs into her election campaign kitty.

After being president for nearly 10 years, Arroyo was initially charged
in November last year with vote fraud for allegedly conspiring to rig
the 2007 senatorial elections, but later posted bail.

Her spokesmen did not reply to AFP's requests for comment.

Aquino spokeswoman Abigail Valte told reporters Saturday: "We have not
become complacent in our anti-corruption measures."

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CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
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BSP: BPI has right to increase ATM charges

BSP: BPI has right to increase ATM charges

Sunday, 30 September 2012 19:29 Jun Vallecera / Reporter

THE unilateral decision by the Bank of the Philippine Islands to raise
its automated teller machine (ATM) transaction charges by 50 percent was
an event uniquely its own and may not be questioned, according to the
Bangko Sentral ng Pilipinas (BSP).

Anyone with misgivings about having to pay P5 more for transactions
conducted by non-BPI cardholders at any of BPI's 1,900 ATMs across the
country could always take their business elsewhere, the regulator said.

"They [BPI] obviously have to deal with negative customer reaction who
are free to decide to take their patronage elsewhere. And they [non-BPI
cardholders] have many other options," Deputy BSP Gov. Nestor A.
Espenilla Jr. said on Sunday.

This pertains to the decision by BPI of setting a higher charge of P15
for every transaction conducted at its network of ATMs by non-BPI
clients beginning Oct. 22 this year, from a charge of only P10 per
transaction for now.

BPI has already posted a notice at its website for this purpose and
rival banks were seen to hike higher ATM transaction charges of their own.

Espenilla said higher maintenance costs played a critical part in the
bank's decision.

"Maintaining ATM services is not costless. Cost was clearly a factor,"
he said.

But while banks like BPI are free to make appropriate cost adjustments
as and when they see fit, regulators may intervene in those cases when
industry-wide collusion is suspected, BSP Gov. Amando M. Tetangco Jr.
said in a text message.

"If they [ATM cardholder] find the price increase unreasonable, perhaps
choices with respect to other banks can be considered. But when the
industry as a whole raises their rates, this is typically where the BSP
checks if it looks like collusion," the regulator said.

Rita Canchela, Head of Corporate Communications at BPI, vowed to issue a
statement putting into perspective the need to hike the lender's
transaction charges on Saturday but none was received by the
BusinessMirror as of press time.

Nevertheless, the president and chief executive at the Philippine
Savings Bank, Pascual M, Garcia III, acknowledged the ATM fee hike was
made compulsory by the decision of the BSP excluding bank funds deployed
at the various ATM networks as no longer forming part of the
deposit-reserve system.

That decision had cost consequences for every bank with an ATM network
as their non-reserve eligible status meant funds that used to generate
earn interest income from the central bank no longer have that power to
draw income.

"Cash held in ATMs is no longer reserve eligible so we incur interest
costs for keeping them in ATMs until they get withdrawn," Garcia said.

PSB is the thrift unit of the universal lender Metropolitan Bank and
Trust Co. and one of BPI's toughest competitors in the lending space.

BPI President and Chief Executive Officer Aurelio R. Montinola III had
said the cost implications for the lender is very significant because
they deploy some P2 billion worth of funds everyday just to replenish
depleted ATMs.

Deployment volumes are more than double on long weekends and on
holidays, Montinola said.

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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)
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Philippines' push for public-private partnerships

Opportunities for North American businesses in the country's push for
public-private partnerships
from HSBC Economic Intelligence Unit


When Benigno Aquino III won a landslide victory in the Philippines
presidential election in May 2010, he made an immediate commitment to
improve the quality of public services and infrastructure. But he also
inherited a government that was badly short of funds. His solution was
to launch a program of public-private partnership (PPP) projects that
would improve infrastructure and public services using private resources.

In some ways, PPPs are a good fit for the Philippines. Its fiscal
deficit is not alarmingly high, at 3.5% of GDP in 2010, and its public
debt to GDP ratio of 52.4% is also manageable. But the government's
narrow revenue base severely hampers its ability to make investments in
infrastructure. The Economist Intelligence Unit expects fiscal revenue
to average just 14.1% of GDP in 2011-15, which is among the lowest in
the world, but Mr Aquino has ruled out tax increases to bolster the
public coffers.

At the same time, the Philippines desperately needs infrastructure
investment. The World Economic Forum's Global Competitiveness Index
2010-11 ranked the Philippines 104th out of 139 countries in terms of
the adequacy of its infrastructure. This is no surprise: Electricity
prices are among the highest in Asia, and supply is unreliable. Traffic
congestion plagues the main metropolitan areas, while the fact that less
than a quarter of the country's roads are paved illustrates how
difficult it can be transporting goods into rural areas. Given the
archipelagic nature of the country, sea transport is arguably more
important than land transport, but even the port system is in dire need
of modernization that would reduce shipping costs and improve efficiency.

Slowly may be more surely
However, with so many gaps in infrastructure provision, there is huge
potential for viable PPP projects that might pique the interest of
overseas investors. The government is aiming to tender out ten projects
in the road, rail and airport sectors in 2011 alone, ranging in value
from US$19m to US$240m. Over the medium term, it has proposed several
dozen projects stretching across the transport sector and into
education, agriculture and health. But the success of this program will
require trillions of dollars in new investment over the next decade.

Unfortunately, the government's initial push has not been as effective
as planned. "The private sector is interested, but many of the projects
have not been thought through and prepared for PPP," says Michael
Yaxley, director of the East Asian operations of Halcrow, a UK-based
company providing technical consultancy to the infrastructure sector.
"There is awareness that government funds are limited, which tends to be
followed by an assumption that the private sector will provide missing
finance. Although a number of projects on the government list will
generate interest, many will not. Little preparatory work has been done
to explore how the relationship would work."

In this sense, the repeated delays to the PPP bidding process, which
could cause the government to fall well short of its ten-project target
in 2011, need not be viewed negatively. Since Manuel Roxas II, a former
senator, took on the role of Transport and Communications Secretary in
July, bids for the operation of Manila's Light Rail Transit 1 (LRT1) and
Mass Rail Transit 3 (MRT3) have been postponed to allow him time to
review project details. A patient approach might yield a more
appropriate list of profitable projects, underpinned by comprehensive
feasibility studies.

The Australian and Canadian governments, along with the ADB, see the
potential of the PPP drive to improve infrastructure in the Philippines,
and have provided funding to the government to help build its capacity
to develop, competitively tender and monitor implementation of these
projects.

Moreover, closer scrutiny of PPP projects may help protect investors
from shoddy projects and altered contracts. On its website, the PPP
center says it is willing to protect investors from regulatory risks,
and Mr Aquino has promised that if a decision by regulators, courts or
legislators leaves investors with a lower return than was expected, then
the difference will be made good by his government.

Transparency is the key to contract stability
The problem is that even if investors trust Mr Aquino, returns on
investments in infrastructure usually stretch across decades and
multiple presidencies. Businesses need reassurance that future
presidents will honor the contracts signed by their predecessors.
History provides them little reassurance in this respect. The most
high-profile recent example involved the contract for the construction
of a third terminal at the Ninoy Aquino International Airport in Manila.
In 1997, during the presidency of Fidel Ramos, the contract was awarded
to Philippine International Air Terminals, a joint venture between local
and foreign interests. Just before the scheduled opening of the terminal
in 2002, then-president Gloria Macapagal Arroyo repudiated the contract,
claiming that it was overpriced and that the bidding process had been
flawed. The contract was voided by the Supreme Court in 2003, and the
government expropriated the facility in 2004. Legal appeals are still
ongoing.

But Felix Sy, a partner at Quisumbing Torres, a member firm of Baker &
McKenzie, says there is reason to be more confident in signing a deal
with the government than in the past. "It's important to note that most
contracts annulled by the Supreme Court have involved problems with the
transparency of the bidding process. If a bidding process is clean and
transparent, it is very unlikely the Supreme Court will strike down a
contract."

The fact that Mr Aquino has made the fight against corruption the
cornerstone of his presidency should be reassuring. Contract uncertainty
will still exist, as it does in many emerging economies, but the
transparent bidding processes being planned by the Aquino administration
should make PPP contracts more robust in face of government flip flops.

There is clearly a long way to go before the Philippines earns the full
faith of investors, but these projects represent interesting
opportunities. As Mr Yaxley puts it, "There is strong potential and a
general will from the government and the private sector to make PPP
work. The missing link is clarity and surety in the process. But we're
in the second year of a five-year presidential term, with good
individuals in key positions. The outlook for PPP infrastructure is bright."

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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:
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Globalization has resulted in unprecedented progress in poverty reduction

The world suddenly got better, but no one noticed
By Deborah Stokes
From Business without Borders


References: China USA Finance
Globalization has resulted in unprecedented progress in poverty reduction

A stunning worldwide poverty goal slipped by three or so years ago, and
no one even noticed. According to a study by the Brookings Institute, a
Washington think-tank, the proportion of people living in poverty – on
income of less than $1.25 a day – is less than half what it was in 1990,
surpassing a UN goal that was targeted to happen in 2015.

The authors of the study "Poverty in Numbers: The Changing State of
Global Poverty from 2005 to 2015," say the rise of globalization and
spread of capitalism are two main reasons for the unprecedented progress
in poverty reduction. Laurence Chandy and Geoffrey Gertz found the
accelerated progress throughout the 2000s held steady even throughout
the global financial meltdown.

According to the authors, who looked at the most recent country data of
household consumption and the latest figures on private consumption
growth, there are approximately 820 million people in the world living
on less than $1.25 a day. In 2005, the latest year for official
estimates by the World Bank, there were 1.37 billion people living below
the poverty line.

"Whereas it took 25 years to reduce poverty by half a billion people up
to 2005, the same feat was likely achieved in the six years between then
and now. Never before have so many people been lifted out of poverty
over such a brief period of time," the authors wrote in the Yale Global
Online Magazine

Just as stunning is the fact that this progress has been universally
unacknowledged. In 1990, the global poverty rate was 41.6%, prompting a
key UN Millennium Goal to halve the rate by 2015. According to Chandy
and Gertz, that goal was likely reached in 2008.

And not just China is leading the change. Poverty is falling rapidly
across all regions and most countries, the authors write. "Even
sub-Saharan Africa is sharing in this progress."

They list the probable reasons for the accelerated improvement: spread
of new technologies, especially cellphones, increased investment in
infrastructure, the commodities boom and emerging markets'
diversification into novel exports, from cut flowers to call centers.

The authors say these factors are all part of a broader trend – the
spread of capitalism, the rise of globalization and the improving
quality of economic governance.

"We're on the cusp of an age of mass development which will see the
world transformed from being mostly poor to mostly middle class. The
implications of such a change will be far-reaching, touching everything
from global business opportunities, to environmental and resource
pressures to our institutions of global governance," the authors write.

"Yet fundamentally, it's a story about billions of people around the
world finally having the chance to build better lives for themselves and
their children. We should consider ourselves fortunate to be alive at
such a remarkable moment."

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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:
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BSP pledges to increase financial inclusion

BSP pledged to increase financial inclusion

The central bank pledged to further improve financial inclusion - by
having more Filipinos having access to banking and financial services.
That will mean supporting more MFIs, microbanks, cooperatives, and
companies providing financial services to the poor and disadvantaged.

<iframe width="420" height="315"
src="http://www.youtube.com/embed/sSEFejJ54C8" frameborder="0"
allowfullscreen></iframe>


http://youtu.be/sSEFejJ54C8




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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) and +63942484-4400 (Sun)

Websites:
CARLOSANI.COM - http://www.carlosani.com
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Family website - http://www.anifamily.net
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ONB inputs Internet banking into rural countryside system

ONB inputs Internet banking into rural countryside system

WEDNESDAY, 19 SEPTEMBER 2012 19:45 MANUEL T. CAYON / REPORTER

DAVAO CITY—Countryside clients of the country's largest rural bank may
now conduct bank transaction and access a wide array of cash management
services from the comfort of their home, business and even
out-of-country locations with Internet connections.

Internet banking has been the latest banking convenience offered by the
One Network Bank (ONB) since last month when bank officials announced
the start of its online transactions and services.

With its internet banking, ONB would now be able to link its clients,
including those in the countryside and abroad, to access banking cash
management designed for business banking transactions in the countryside.

A product demonstration of this system was viewed by clients who
attended Client Appreciation Night hosted by ONB last month at its
seven-story ONB Center in Sasa, this city.

An ONB statement on Tuesday said its Business Online Banking was "a
business tool designed to address the cash management needs of
countryside business clients."

"It makes business banking possible wherever there is an Internet
connection—at the comfort of your home, Internet café, Wi-Fi zones and
even out of the country," it said.

The ONB said its Internet banking "offers a package of Internet banking
functionalities according to the size, needs and operations of the
business. It basically enables direct access to accounts and transaction
history, facilitating real-time banking transactions such as fund
transfers and payments of bills anytime in the day without the
inconvenience of personally going to an ONB branch."

It also expands into a bundle of cash-management services such as
collection and payment solutions designed to improve administrative and
operational efficiencies of corporate clients or multinational
corporations with multi-branch operations in the countryside," it added.

By providing clients the choice and control in keeping an eye on
accounts and managing the cash flow of their business, ONB's Business
Online Banking makes business banking experience in the countryside more
efficient," it said.

The ONB said it would "continue to respond to the evolving needs of
unbanked and underbanked progressive communities with the expansion of
its network of branches, ATMs and POS [automated teller machines and
point-of-sale]."

As of end August 2012, the bank has 86 branches, five micro-banking
offices in Davao City and 126 on-site and off-site PeraAgad ATMs.

The Bangko Sentral ng Pilipinas also recently approved its petition to
establish five more branches in Iloilo, which would complement the
existing six offices of the Rural Bank of San Enrique in Iloilo. This
rural bank would soon be absorbed by ONB once the merger secures
approval of banking authorities.


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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) and +63942484-4400 (Sun)

Websites:
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PAL ticket payments made easy through 7-Eleven

PAL ticket payments made easy through 7-Eleven

ABS-CBNnews.com - Posted at 09/22/2012 6:01 PM | Updated as of
09/23/2012 5:45 PM

MANILA, Philippines – Travelers using Philippine Airlines (PAL) can now
pay their domestic tickets at any of the 766 retail outlets of 7-Eleven
nationwide.

With ECPay's Payment Center Facility in 7-Eleven stores, those who book
online would no longer have to line up at PAL to pay for their tickets.
All they need to do is to simply go to their nearest 7-Eleven stores.

"This latest passenger service innovation involves a few "easy" steps:
First, a passenger books a flight through the PAL website. The flight
must be at least 48 hours from the time of booking. Once booking is
confirmed, passenger will select "Reserve and Hold" option on the
summary page. To complete the process, the passenger details are
inputted and the confirmation email must be printed," PAL said in a
statement.

The passenger should go to the nearest 7-Eleven outlet and present their
booking confirmation and pay the corresponding amount. The itinerary
receipt (E-Ticket) and official receipt will be sent to the passenger's
email address.

However, the facility only accepts payments for flight bookings done online.

PAL said the scheme also enables those without credit cards to do their
bookings online at the convenience of their homes, offices, internet
cafes or mobile phones.

In case of inquiries, passengers may call the ECPay Customer Support
hotline at (02) 421-6032 to 35 or email customerservice@ecpay.com.ph.


--
---------------------------------------------------------------------
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) and +63942484-4400 (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 banks establish offices in Mindanao

More banks establish offices in Mindanao

ZAMBOANGA CITY -- There are more banks in Mindanao now, ensuring that funds are available for productive activities, a ranking official of the Bangko Sentral ng Pilipinas (BSP) said.

Teresita B. Deveza, acting deputy director of the BSP’s Department of Economic Statistics, told a briefing here that Mindanao’s banking sector is “bullish.”

She said there were 139 new bank offices during the first quarter of this year.

“As of March 2012 relative to 2011, the number of banks increased in all regions of Mindanao including Zamboanga except for ARMM (Autonomous Region in Muslim Mindanao), which remained steady,” she said.
Overall, the Davao region has the highest number of banks in Mindanao with 331 offices followed by Northern Mindanao with 293.

Data from the BSP showed the island has 537 universal and commercial bank offices, 125 thrift banks, and 614 cooperative banks as of the first quarter this year.

Lending also grew by double-digit levels in Mindanao in the first half of 2011 based on the latest data available, Ms. Deveza said.

The Caraga region posted a 49.65% rise in its gross outstanding loan portfolio, followed by Davao Region with 26% in 2011.
In addition, deposit generation continued to expand in Mindanao, she said, with the Caraga Region topping the list again with 14.6% deposit growth in 2011.

“Loans to deposit ratios in June 2011 increased in Zamboanga, Northern Mindanao, Davao and Caraga, which indicate easier access to credit and more liquidity that could be utilized for productive activities,” Ms. Deveza said.

Felipe M. Medalla, BSP Monetary Board member who was also present during the briefing, said the increase in the number of bank offices in Mindanao and high growth of deposits and loans indicated upbeat sentiment of the island’s financial sector. --
Darwin T. Wee

On 9/19/2012 11:44 AM, Sarah York wrote:

Dear Carlos,

 

I am concerned about the fact that you have sent an invoice to Coffey International Development for the apparent posting of the ‘Governance Adviser’ role which was never advertised through DevJobs.

 

The invoice outlines that there are 8 postings of $15.00 each within a two week period, resulting in $120.00 US. It was not even posted once.

 

Please be assured that I have not posted this job through DevJobs, I simply enquired about posting back in February and did not go ahead when I did not receive a reply.

 

Please feel free to contact me if you have any questions

 

Regards,

 

SARAH YORK
Design & Production Coordinator

Coffey International Development
Worldpark, 33 Richmond Road Keswick SA 5035 Australia
T +61 8 8375 4400 F +61 8 8375 4466
coffey.com

 

 

 

Coffey International Development has a new website! Take a look at the impact of our work www.coffey.com/international-development

 

 

 

 

-----Original Message-----
From: editor [mailto:editor@devjobsmail.com]
Sent: Saturday, 15 September 2012 7:58 PM
To: ""
Cc: Lisa Campanella; ""; ""; ""; Sarah York
Subject: Bill on your job postings with DEVJOBS 778

 

Elizabeth Wooldridge

Production and Design Assistant

Coffey International Development

L 2, 70 Hindmarsh Square

Adelaide

SA, Australia, 5000

 

elizabeth_wooldridge@coffey.com

lisa_campanella@coffey.com

Sara York <sarah_york@coffey.com>

 

Bill on your job postings with DEVJOBS 778

 

Dear Elizabeth,

 

Attached is your bill regarding your job ads with DEVJOBS.  We would

appreciate your prompt action on this bill.  Thanks.

 

 

Truly yours,

 

Carlos Ani

DEVJOBS Information Service

Email: carlosani@devjobs.org

 

 

---

Environmental Notice: Please consider the environment before printing this email.

Confidentiality Notice: The content of this message and any attachments may be privileged, in confidence or sensitive. Any unauthorised use is expressly prohibited. If you have received this email in error please notify the sender, disregard and then delete the email. This email may have been corrupted or interfered with. Coffey International Limited cannot guarantee that the message you receive is the same as the message we sent. At Coffey International Limited's discretion we may send a paper copy for confirmation. In the event of any discrepancy between paper and electronic versions the paper version is to take precedence. No warranty is made that this email and its contents are free from computer viruses or other defects.

CILDISCL0005

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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) and +63942484-4400 (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   --------------------------------------------------------------------                  

German gov’t extends microinsurance program

German gov't extends microinsurance program

THE GERMAN government's €3-million technical assistance to develop
microinsurance in the Philippines has been extended by another three
years, while another €3-million program, this time, covering other Asian
countries, is in the works.

The German Agency for International Cooperation (GIZ), which represents
the German government in its development cooperation efforts around the
world, pumped in €3 million to the Philippines in 2009 to create the
Microinsurance Innovations Program for Social Security (MIPSS).

The program is due to end this December, but GIZ MIPSS program manager
Antonis Malagardis said an extension has been approved.

"The extension will be budget-neutral. There won't be new public funds.
[The funding] will be taken more from other sources such as the German
private sector or our local partners," Mr. Malagardis told BusinessWorld
at the sidelines of the National Conference on Microinsurance last week.

"Under the extension, we will focus on completing our work on crop
insurance and integrating it with other initiatives of the private and
public sector," he explained.

GIZ is currently piloting a new form of crop insurance in Ormoc, Leyte
with the help of Philippine Crop Insurance Corp. The product will insure
irrigated rice farmers, so that if their harvest for the season drops
below the 10-year average, they will receive a payout covering the
difference in yield.

Meanwhile, a new three-year €3-million technical assistance will fund
the development of microinsurance in Asia, focusing on four to six
countries, including the Philippines, Mr. Malagardis said.

The project will center on regulatory support and regulatory issues, he
explained.

In the Philippines, GIZ MIPSS was able to help the Insurance Commission
create a comprehensive microinsurance regulatory framework: defining
microinsurance products, setting requirements for providers and agents,
launching a nationwide financial literacy campaign and even proposing
consumer protection and dispute settlement procedures.

"As the Philippines is one of the pioneers of microinsurance, we also
hope to create a knowledge hub in Manila. We will be able train
advocates here and make resources available for other people," Mr.
Malagardis said.

The new program still needs approval by the Federal Ministry for
Economic Cooperation and Development but is expected to begin by January
2013.

Mr. Malagardis urged the country to build on the significant gains it
has already reaped since the technical assistance began in 2009, which
has seen microinsurance coverage leap to 7.8 million Filipinos this year
from only 3.1 million in 2008.

The next steps, he said, will be to study the role of technology to
improve microinsurance products. The government and the private sector
should also develop distribution channels so they can reach more people
with less cost.

"The local government, for example, can be one of the conduits so that
microinsurance has a stronger reach within the community," he explained.

Lastly, he added, the Philippines must delve further into microinsurance
for natural catastrophes as the poor are often the most hard-hit.

According to GIZ's 2010 "Study on Demand of Insurance for Natural
Catastrophes," the Philippines is one of the countries most prone to
natural disasters, with an average of 25 typhoons hitting the country
every year. -- Diane Claire J. Jiao


--
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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) and +63942484-4400 (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
--------------------------------------------------------------------

Rural banks rack up P15B in mobile deals

Rural banks rack up P15B in mobile deals

By Lawrence Agcaoili (The Philippine Star) Updated September 16, 2012 12:00 AM  

MANILA, Philippines - The United States Agency for International Development (USAID) said about P15 billion worth of mobile money-enabled transactions were processed by rural banks since 2004, when the US government pioneered early initiatives to help microenterprises gain access to financial services by using a mobile money approach.

The USAID said rural banks have processed more than 2.7 million mobile money transactions after the agency partnered with the government, rural banks and telecommunications operators in 2004

It would be recalled that President Aquino and USAID administrator Rajiv Shah announced the first full-scale mobile money project in the Philippines during a meeting in Washington last June 8.

Last Tuesday, USAID chief innovation officer and senior counselor to the administrator Dr. Maura O’Neill and USAID/Philippines mission director Gloria Steele launched the Scaling Innovations in Mobile Money (SIMM) project.

“This innovative partnership builds upon USAID/Philippines’ current interventions in microfinance and mobile banking to expand financial services even further through new technologies. It will enable Filipinos even from the remotest parts of the country to send money home, save money, pay for unexpected medical costs, school fees, or invest in their business using their mobile phones,” O’Neill said.

Steele explained that SIMM is based on partnerships with national and local government and the private sector that together would build and strengthen local components of the mobile money ecosystem in select pilot areas specifically for government services, electronic payroll distribution and payment systems.

“By offering a safe, cost-effective, and more convenient way of doing business, mobile money technology will provide an important tool to promote financial inclusion and transparency,” she added.

The project would help address some of the ‘binding constraints to economic growth’ identified under the Partnership for Growth signed in November 2011 by US Secretary of State Hillary Rodham Clinton and Foreign Affairs Secretary Albert del Rosario.
 
Tricia Dizon, department head of financial services of Smart Communications Inc., said in an interview with reporters that the unit of dominant carrier Philippine Long Distance Telephone Co. (PLDT) would actively participate in the project.

She pointed out that the company is looking at doubling the number of transactions of its 10 million active users of mobile money through Smart Money.

On the other hand, G-Xchange Inc. president Paolo Eugenio Baltao said the Philippines has one of the most progressive rules on the regulation of mobile money transactions in the whole world.

He said the Bangko Sentral ng Pilipinas (BSP) has been implementing progressive regulations when it comes to mobile money transactions.

According to him, the unit of Ayala-controlled Globe Telecom Inc. has about one million G Cash users all over the country.

--   ---------------------------------------------------------------------  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) and +63942484-4400 (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   --------------------------------------------------------------------                  

Microinsurance clients surge

Microinsurance clients surge

AN ESTIMATED 7.8 million Filipinos are now covered by microinsurance,
more than double the number five years ago, the Insurance Commission
(IC) yesterday said.

The IC bared a list of industry milestones as it concluded yesterday the
Developing Microinsurance Project, a technical assistance program of the
Asian Development Bank (ADB)-Japan Fund for Poverty Reduction that ran
from 2008 to 2012.
Only 3.1 million Filipinos were protected by microinsurance before 2008,
IC Chief Insurance Specialist Reynaldo M. Vergara said during the
National Conference on Microinsurance yesterday.

The number has grown sharply to 7.8 million this year, he said, due to
the concerted effort of the government, development partners and the
private sector to develop microinsurance, low-premium insurance targeted
at low-income individuals.
Moreover, prior to 2008, microinsurance products were only offered as an
optional benefit for the credit and savings programs of microfinance
institutions, he noted.

Now, there are 80 microinsurance products approved by the IC -- 54 life
and 26 non-life.

The uptake of the private sector has also been immediate, he said. There
are now 17 mutual benefit associations and 28 insurance companies -- 16
life and 12 non-life -- licensed to offer microinsurance products from
the "very few" seen before.
There are also 116 licensed microinsurance agents to date, 26 of which
are rural banks and 90 are individuals.

Since 2008, with the help of technical assistance from the ADB, Japan
and the German Agency for International Cooperation (GIZ), the
government has been able to draft a national microinsurance strategy, a
comprehensive regulatory framework and a roadmap to financial literacy.

"As a result, the Philippines is now the pioneer and the source of
concrete best practices in the world when it comes to microinsurance,"
Mr. Vergara said.

"Many countries have microinsurance products and providers but no
foundation, which makes it difficult to develop the industry," he explained.

Despite these early gains, stakeholders pointed out in the conference
that there are 23 million Filipinos below the poverty line, and they
need to be targeted for microinsurance.

"They remain susceptible to unpredictable incidents such as
unemployment, accidents, illnesses and natural disasters. This is where
microinsurance could enter as aid in ensuring that inclusive growth
penetrates even the bottom layer of the society," Takahiro Etchu,
financial attache of the embassy of Japan, said.

Inclusive growth is growth that reaches the poorest sectors of society.

Kunio Senga, director-general of the ADB Southeast Asia department,
added: "Under uncertainty of another global crisis, financial inclusion
will enable even poor people to access a wide range of financial
services, including credit, savings, insurance... integral to sustain
and realize inclusive growth."

In order to expand microinsurance coverage, GIZ program manager Antonis
Malagardis called for the improvement of distribution channels so more
people can be reached at less cost.

"Well-developed distribution channels are crucial in bringing
microinsurance... to the doorsteps of the low-income people. It will not
only make enrollment more efficient for insurance providers but more
importantly, it makes the servicing of claims faster," Mr. Malagardis said.

Some of the conduits that have been eyed are schools, pharmacies and
utilities, he explained. Relationships with local communities must also
be strengthened so they can be convinced to participate in microinsurance.

Finance Undersecretary Gil S. Beltran also revealed the government is
considering imposing a mandatory allocation for microinsurance for
insurance companies, similar to the case of India where 10% of premiums
must be from microinsurance policies.

This will be similar to the Agri-Agra Reform Credit Act of 2009 which
requires banks to set aside at least 25% of their total credit resources
for lending to the agriculture and agrarian reform sectors.

Other than this possible quota, the government is not keen to offer
subsidies or tax incentives to encourage microinsurance providers, Mr.
Beltran said.

"These perks are not efficient. Microinsurance must be mainly private
sector-led," he 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: +63926277-8044 (TM) and +63942484-4400 (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
--------------------------------------------------------------------

BanKO gets additional capital

BanKO gets additional capital

AYALA-controlled mobile-based BPI Globe BanKO, Inc. received a
P52-million fresh capital infusion in December last year as it targeted
to grow its microfinance lending business by more than a fifth this year.

"We received a capital infusion of P52 million in December last year
from our stakeholders, bringing our paid-up capital to P552 million,"
BPI Globe BanKO President Teresita B. Tan said in an interview last Tuesday.

The Bank of the Philippine Islands (BPI), the country's third largest in
asset terms, and Globe Telecom, Inc. (Globe) each poured in P20 million
while Ayala Corp. contributed P12 million.

The thrift bank had a paid-up capital of P350 million when it launched
operations in late 2009.Its three shareholders infused an additional
P150 million in March last year.

BanKO is the country's first mobile-based microfinance-focused thrift
bank. It makes use of Globe's GCASH e-money to extend microfinance loans
to wholesale clients, composed of rural banks, nongovernment
organizations and cooperatives, as well as to retail clients.

Ms. Tan said BanKO targets to grow its loan portfolio to P2.5 billion by
the end of the year, up 23.15% from P2.03 billion last year.

The bank has extended P2.1 billion in loans so far.

Next year, Ms. Tan said, "we want to grow our loans to P3.5 billion...
and we expect more capital infusion from our shareholders."

"Bulk of these loans are retail loans and we expect our retail lending
business to drive the growth of our portfolio this year and next year,"
she said.

"The increasing number of our partner outlets is also expected to boost
the bank's lending business," she said.

The bank's partner outlets, composed of small variety stores and
pawnshops, perform cash-in/cash-out transactions and conduct customer
identification for savings and loan applications.

BPI Globe BanKO currently has 2,000 partner outlets. "We hope to end the
year with 3,000 partner outlets," Ms. Tan said.

She also said the bank does not plan to add more branches to its six
regional branches -- two each in Luzon, Visayas and Mindanao.

"We already have two branches each in the major islands, we can manage
our partner outlets from there and since we have mobile-based
transactions we don't need to put up additional branches," she said. --
ARRG

--
---------------------------------------------------------------------
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) and +63942484-4400 (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
--------------------------------------------------------------------

BPI Globe Banko targets 40% loan portfolio growth

BPI Globe Banko targets 40% loan portfolio growth

By Lawrence Agcaoili (The Philippine Star) Updated September 13, 2012 12:00 AM

MANILA, Philippines - Ayala-controlled BPI Globe BanKo Inc. hopes to post a 40 percent growth in its loan portfolio next year with the growing number of microenterprises borrowing more to finance their operations.

BanKo president Teresita Tan said in an interview with reporters that the savings bank is looking at a loan portfolio of P3.5 billion by the end of next year from the projected level of P2.5 billion this year.

Tan pointed out that the bank is confident of ending this year with a loan portfolio of P2.5 billion as the current level has reached P2.1 billion.

She pointed out that the growth would come from the growing number of microenterprises seeking loans to bankroll their operations.

BanKO is the first mobile-based, microfinance-focused savings bank in the Philippines established in July 2009 by Bank of the Philippine Islands (BPI), Globe Telecom Inc., and diversified conglomerate Ayala Corp.

Tan said the bank provides the low-income segment with secure and convenient access to affordable financial services by leveraging on its combined assets and infrastructure in banking and telecommunications.

She revealed that the bank needs to further beef up its capital currently amounting to P552 million to address the growing demand for loans.

 “Obviously we need the capital to lend to bigger accounts,” Tan explained.
 
With the support of six regional branches in Luzon, Visayas, and Mindanao, BanKo has adopted a “branchless” banking method of service through partner outlets to perform cash-in or cash-out transactions and conduct customer identification (KYC) for savings and loan applications.

According to her, the savings bank sees its number of mobile money users growing to 300,000 by the end of the year from the current level of 250,000.

The bank is also looking at increasing the number of partner outlets to 3,000 from the current number of about 2,000.

“We have over 2,000 partner outlets and we hope to end the year with 3,000. We generate loans and mobile money users by having more retail partner outlets,” she said.

BanKO’s current partners include Tambunting Pawnshop, CVM Pawnshop, Generika drugstores, Czarina Foreign Exchange, gasoline stations, Internet cafes, loading stations, convenience stores, and many more.

These partner outlets accept applications to allow prospective clients to open an account and do their cash-in and cash-out transactions without having to go through the tedious banking procedures and without high account maintenance fees.

BanKo also partners with microfinance institutions (MFIs) such as rural banks, non government organizations (NGOs) and cooperatives, offering wholesale institutional loans to fund MFIs’ on-lending to its client-base, and capability-building developmental loans in the form of technical assistance and financial training for the MFIs and their clients.

--   ---------------------------------------------------------------------  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) and +63942484-4400 (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   --------------------------------------------------------------------                  

BPO sector seen growing despite strong peso

BPO sector seen growing despite strong peso
By Ana G. Roa
Philippine Daily Inquirer
1:15 am | Thursday, September 13th, 2012

The Contact Center Association of the Philippines (CCAP) on Wednesday
said it was mindful of the stronger peso as the country aspires to
remain as the biggest contact center hub in the world.

The Philippines is still the preferred destination for contact centers,
according to CCAP president Benedict Hernandez, despite the peso
appreciation that can weaken the competitiveness of business process
outsourcing (BPO) firms.

"It is something that we carefully watch," Hernandez said during the
launch of the International Contact Center Conference and Expo 2012.

Despite the adjustments in cost due to the fluctuating exchange rate,
there was still a significant preference for the Philippines because of
the higher value provided by the country, he added.

"Beyond cost, there are many aspects of the Philippine value
proposition—the talent, the culture, the language, the proficiency, the
level of service—all of those are creating this bigger value
proposition," Hernandez said.

Strategies on how the contact center industry can adapt to other trends
particularly in geopolitics, technology, workplace, education and
outsourcing will be tackled during the International Contact Center
Conference and Expo (ICCCE) on September 18-19 at the SMX Convention Center.

ICCCE is the flagship event of CCAP, which represents 81 global and
local contact centers operating in the Philippines.
Science and Technology Secretary Mario Montejo said that the ICCCE could
promote the Next Wave Cities Program, which seeks to drive growth in
information technology (IT) in other areas apart from Manila, Cebu and
Clark.

The IT-BPO industry is targeting $12 billion in revenue this year,
higher than the $11 billion generated in 2011.
The contact center component accounted for 65 percent of total business
in 2011 with 416,000 employees providing $7.4 billion in services to the
world.


--
---------------------------------------------------------------------
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) and +63942484-4400 (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
--------------------------------------------------------------------

BPI’s BanKO sees strong 2013 growth

BPI's BanKO sees strong 2013 growth
By Michelle V. Remo
Philippine Daily Inquirer
2:06 am | Friday, September 14th, 2012

BPI Globe Banko Inc. (BanKO), the first mobile phone-based bank in the country and the world, expects to reach one million clients in 2013, citing the large demand for micro-banking services, especially from the lowest-income groups and countryside residents in the Philippines.

Teresita B. Tan, president of BanKO, said the bank started its retail operations only in January but already has about 200,000 clients.

She said the existing number of clients exceeded initial expectations of company officials and indicated the likelihood of exponential growth over the short term.

"The business model adopted by BanKO is the way to reach out to people from the farthest areas of the country. Through BanKO's affordable banking services, Filipinos gain financial empowerment and an opportunity to build their savings," Tan said in a press conference on Thursday.

BanKO—a firm established through collaboration among Globe, Bank of the Philippine Islands and Ayala Corp.—is targeting clients from low-income households.

Under its business model, an individual who wants to open a bank account may go to any partner outlets (including pawnshops, gasoline stations, convenience stores, drugstores and money changers), register his globe mobile phone number, and pay P100. Of the amount P50 will be credited as initial balance of the bank account.

The client will then get a text message confirming the opening of the bank account. He will also receive an automated teller machine (ATM) card.

Once a bank account is opened, the client will be able to avail himself of various banking services, such as bills payments, remittance, purchase of micro-insurance and application for micro-loans through his mobile phone.

An account holder who wants to load his bank account with cash may do so at any of the partner outlets. For withdrawals, an account holder may either go to partner outlets or to automated teller machines.

An account holder who wants to apply for a loan may do so through his mobile phone, particularly by going to the loan application portion of the BanKO menu.

The maximum loan amount a new client may get is equivalent to his outstanding deposit balance.

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