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ASA Philippines Foundation, Inc. (ASA), the country’s leading microfinance non-government organization, successfully raised PHP5 billion from the issuance of 5-year fixed rate corporate notes. The proceeds of the issue will be used for working capital purposes to expand ASA’s lending business, which wholly targets women as principal borrowers to empower…
FROM THE MARGINS Last week, House Speaker Martin Romuldez vowed to pass by December the administration’s priority bills, including the Passive Income and Financial Intermediary Taxation Act (PIFITA), the last tranche of the government’s Comprehensive Tax Reform Program. The PIFITA is laudable beca
BusinessWorld May 11, 2021 | 8:27 pm FREEPIK THE Microfinance NGO Regulatory Council (MNRC) said it has eased the requirements for non-government organizations (NGOs) engaged in such lending in order to avert any failure to comply with the law governing the industry.  Memorandum Circular No. 1 Series of 2021 detailed prudential relief measures such as the relaxation of the P1 million minimum fund balance requirement, the minimum 50% rating in financial performance indicators, and the minimum 60% weighted average rating for all performance indicators. âThe MNRC re...