Philippines take pride in Microfinance Industry

Philippines has been included on top 5 in business ranking in Microfinance (MF) industry. It was ranked on 4^th spot among the 55 Economist Intelligence Unit's "Global Microscope on MF Business Environment.

Moreover with Bangko Sentral ng Pilipinas (BSP) Circular No. 744, it alleviate the MF Members to loan up to P300K which formerly P150K. There’s also a draft for the foreign investor to own a maximum of 40% ownership in rural banks.

The following are the ranks based on the report and only 3 countries and Asia made it.

photo: joshweinstein.wordpress.com

1. Peru
2. Bolivia
3. Pakistan
4. Philippines
5. Kenya
6. El Salvador
7. Colombia
8. Cambodia
9. Mexico
10. Panama

It only shows that Philippines takes pride in MF. On the other hand, BSP is continuously promoting MF as its one of the key factor in poverty alleviation. ~source~

Posted in: Business,Microfinance,Philippines