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BSP Conducts Seminar to Ensure Sound and Sustainable Microfinance Operations

04.27.2006

The Bangko Sentral has played a catalytic role in promoting the development of sustainable microfinance operations. As a result, more and more banks are seeing that microfinance is both an effective tool for poverty alleviation as well as a profitable and viable undertaking. Because of the increasing number of banks engaging in microfinance, the BSP is taking significant initiatives to ascertain that microfinance operations are done in a sound and sustainable manner and adhere to prudential standards and best practices.

Toward this end, the Bangko Sentral ng Pilipinas will conduct a whole day seminar on best practices of microfinance operations on Friday, April 28, 2006 in Dagupan City.  The workshop will focus on the key issues of microfinance operations such as measuring portfolio-at-risk (PAR) to ensure the quality of the portfolio, risk-based provisioning and maintaining adequate information systems and internal controls. This is part of a series of seminars that the BSP is conducting in strategic regions of the country to promote sound and sustainable microfinance operations within the banking sector.  This Seminar follows the seminars that were conducted in Manila, Cebu City, Cagayan de Oro City and Davao City.

The seminar is open to all banks in Regions I, CAR and parts of Region III that are engaged in microfinance, particularly the accountants/ bookkeepers and compliance officers of these banks. The seminar will have a mix of presentations and actual exercises conducted by key officers of Bangko Sentral involved in microfinance.

Microfinance is BSP's flagship program for poverty alleviation. Accordingly, it has put in place an enabling policy and regulatory environment for practitioners, training and capacity building within the BSP and the banking sector, as well as in promoting and advocating microfinance.  These efforts have resulted in a progressive increase in the number of sustainable financial institutions providing microfinance services where there are now 195 banks engaged in microfinance reaching over 600,000 clients. The BSP believes that only viable and sustainable microfinance institutions will be able to serve more of the Filipino entrepreneurial poor.
 
For further information, please call the BSP Microfinance Unit at (02) 523-6130 or the BSP Dagupan City at (075)614-3027.

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