MICROCAPITAL BRIEF: MFTransparency Announces First Microfinance Data Submissions for Transparent Pricing Initiative in the Philippines

MFTransparency, a US-based nongovernmental organization (

) that collects and publishes information on microcredit products and pricing, recently received the first data submissions from Filipino microfinance institutions (MFIs) that are participating in its “Transparent Pricing Initiative.” Sixteen MFIs have so far submitted data to the program, which expanded to the Philippines in March 2011 in partnership with the Microfinance Council of the Philippines (MCPI), an association of MFIs in the country, and the Rural Bankers Association of the Philippines (RBAP), a nonprofit organization that supports the rural banking sector. Through this initiative as well as efforts in 23 other countries, MFTransparency is aggregating and publicizing pricing data, as well as organizing training sessions that cover topics in transparency and consumer protection. The first sixteen MFIs to submit data are ASA Philippines, Ahon Sa Hirap, Incorporated (ASHI), Kasagana-Ka Development Center Incorporated (KDCI), Rizal Microbank, Jaime V Ongpin Foundation Incorporated (JVOFI), Rangtay sa Pagrang-ay Incorporated (RSPI), Community Economic Ventures Incorporated (CEVI), Kazama Grameen, Alalay sa Kaunlaran Incorporated (ASKI), Rural Bank of Liloy Incorporated (RBLI), People's Bank of Caraga (PBC), Hagdan sa Pag-uswag Foundation Incorporated (HSPFI), Bangko Kabayan, Simbag sa Pag-Asenso, TSPI Development Corporation and 1st Valley Bank. According to an MFTransparency press release, 32 additional MFIs in the Philippines have begun the....