Microfinance Focus, August 20, 2011: First 16 microfinance institutions have submitted data to the Transparent Pricing Initiative in the Philippines which was launched by Microfinance Transparency in March 2011.

In partnership with the Microfinance Council of the Philippines (MCPI) and the Rural Bankers Association of the Philippines (RBAP), MFTransparency began the Initiative with launch workshops in Mindanao, Luzon and Visayas, attended by more than 150 representatives of the leading organizations in the Philippine microfinance industry.

ASA Philippines Foundation is the first microfinance institution to submit pricing data to MFTransparency, closely followed by Ahon sa Hirap (ASHI), Rizal Microbank and Kasagana‐Ka Development Center (KDCI).

Other leaders in pricing disclosure include, in order of their participation: Jaime V. Ongpin Foundation Inc. (JVOFI), Rangtay sa Pagrangay Inc. (RSPI), Community Economic Ventures Inc. (CEVI), KAZAMA Grameen, Alalay sa Kaunlaran Inc. (ASKI), Rural Bank of Liloy Inc. (RBLI), Bangko Kabayan, People’s Bank of Caraga (PBC), Hagdan sa Pag‐uswag Foundation Inc. (HSPFI), Simbag sa Pag‐Asenso (SEDP) Tulay sa Pag‐unlad Inc. (TSPI) and 1st Valley Bank.

MFTransparency is still accepting data submissions in the Philippines. MFTransparency awards transparency certification to all financial institutions that submit data and commit to educating their clients on pricing.

The Transparent Pricing Initiative in the Philippines is sponsored by Luxembourg Cooperation and in partnership with Oiko Credit, PlaNet Finance, Seed Finance and FSSI.