The Rafael B Buenaventura Microfinance Resource Center Foundation (RBB Foundation), an institution in the Philippines that aims to develop sustainable microfinance through capacity building, will honor five microfinance institutions (MFIs) for their pioneering initiatives and exemplary work in its first awards ceremony on November 30, 2012. The award for Outstanding Microfinance Institutions, also known as the “Paeng” awards, will be given in memory of Rafael B Buenaventura, former governor of Bangko Sentral ng Pilipina, the central banking authority of the Philippines.
To be eligible, organizations must have the following:
-Organizational type of either nongovernmental organization (NGO), cooperative or bank
-A three-year track record
-Demonstrated self-sufficiency, financial self-sufficiency and positive return on equity
-An increasing number of active clients
-A portfolio with an at-risk ratio below an unspecified ceiling
Nominations must be submitted no later than May 15, 2012. For more information on eligibility and submission, you may visit the RBB Foundation’s webpage at http://rbb.bapcb.com/p_enter.htm.
The award is being launched in partnership with Microfinance Council of the Philippines, a trade association of MFIs; the Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS), an initiative that encourages the rural banking industry to expand access to microfinance services; PinoyME Foundation, a social investment banker for MFIs; and the Bangko Sentral ng Pilipinas, the central banking authority of the Philippines.
By Charlotte Newman, Research Associate
About Bangko Sentral ng Pilipinas
Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. Established under the provisions of the New Central Bank Act of 1993, BSP is headquartered in Manila and has three regional offices performing cash operations and eighteen branch offices. BSP participates in various advocacy programs concerning microfinance, financial education and consumer protection.
About Microfinance Council of the Philippines
Microfinance Council of the Philippines (MCPI) is a trade association for microfinance-related organizations in the Philippines. MCPI is a network of 36 lenders and 9 service providers that seeks to further develop the microfinance industry in the Philippines in partnership with government agencies and institutions including Bangko Sentral ng Pilipinas (BSP), Department of Finance-National Credit Council, National Anti-Poverty Commission, People’s Credit and Finance Corporation, Land Bank of the Philippines and the National Economic and Development Authority.
About Rural Bankers Association of the Philippines
Established in 1955, RBAP is a non-profit, incorporated association of rural banks operating under the guidance of 15 directors whose goal is to promote rural development in the Philippines. RBAP’s mission is to support the ability of its members to offer quality banking services to all their constituencies, to comply with regulatory requirements and to promote the welfare of the communities in which they operate. RBAP has approximately 700 member banks.
Sources and Additional Resources:
Business Inquirer: “’Paeng’ Microfinance Awards Launched,” http://business.inquirer.net/55195/%E2%80%98paeng%E2%80%99-microfinance-awards-launched
RBB Foundation: “Call for Nominations for the Paeng Microfinance Awards 2012,” http://rbb.bapcb.com/p_enter.htm
MicroCapital.org story, May 7, 2012, “MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas ‘Special’ Program for Distressed Rural Banks as 3rd Straight Quarterly Rise Brings Bad Loan Ratio to 10%,” https://www.microcapital.org/microcapital-brief-bangko-sentral-ng-pilipinas-bsp-may-broaden-special-program-for-distressed-rural-banks-as-3rd-straight-quarterly-rise-brings-bad-loan-ration-to-10/
MicroCapital.org story, March 1, 2012, “MICROCAPITAL BRIEF: Philippine Government Promote Microinsurance With Support from Asian Development Bank (ADB),” https://www.microcapital.org/microcapital-brief-philippine-government-promote-microinsurance-with-support-from-asian-development-bank-adb/
MicroCapital Universe Profile: Bangko Sentral ng Pilipinas
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bangko+Sentral+ng+Pilipinas+%28BSP%29
MicroCapital Universe Profile: Microfinance Council of the Philippines
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microfinance+Council+of+the+Philippines%2C+Inc.+%28MCPI%29
MicroCapital Universe Profile: Rural Bankers Association of the Philippines
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Rural+Bankers+Association+of+the+Philippines+%28RBAP%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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