ASKI Is First Financial Institution in Philippines to be ...€¦ · ASKI Is First Financial...
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ASKI Is First Financial Institution in Philippines to be Awarded Smart Certification Manila/Washington, D.C., October 27, 2015 -- The Smart Campaign, a global movement to embed a set of client-protection principles into the fabric of the microfinance industry, announced today that Alalay Sa Kaunlaran, or ASKI, is the first financial institution in the Philippines to be certified by the Smart Campaign. Established in 1987 in central Luzon to serve and empower the poor through microenterprise development, ASKI today serves more than 136,000 clients through 72 branches and 7,794 solidarity groups in 234 cities and towns. The non-profit institution earned its Smart Certification in late July following a mission conducted by Microfinanza Rating, but is being publicly recognized today in conjunction with the Asia-Pacific Financial Inclusion Summit 2015, in Manila. Ms. Pia Roman of Bangko Sentral ng Pilipinas (BSP) will present the Smart Certification certificate to ASKI executives. BSP has taken serious and deliberate measures to expand the availability of quality financial services in the Philippines, and the Campaign has found a strong ally in BSP in its work on consumer protection. ASKI’s recognition for certification is also being supported by MCPI, the Microfinance Council of the Philippines, and its director, Mr. Allan Sicat. To learn more about financial inclusion in the Philippines, check out the FI2020 Inclusion Visualizer, a powerful new tool to manipulate, visualize, and download images of data related to financial inclusion - across country, region, and income levels. Opportunity International has also been generously supporting ASKI in its journey toward Smart Certification. The Smart Campaign’s Client Protection Certification Program contains a core set of standards against which institutions are evaluated by independent, third-party evaluators. Smart Certification publicly recognizes those institutions providing financial services to low-income clients with a standard of care that upholds the microfinance industry’s seven Client Protection
Transcript of ASKI Is First Financial Institution in Philippines to be ...€¦ · ASKI Is First Financial...
ASKI Is First Financial Institution in Philippines to be Awarded Smart Certification
Manila/Washington, D.C., October 27, 2015 -- The Smart Campaign, a global movement to
embed a set of client-protection principles into the fabric of the microfinance industry,
announced today that Alalay Sa Kaunlaran, or ASKI, is the first financial institution in the
Philippines to be certified by the Smart Campaign.
Established in 1987 in central Luzon to serve and empower the poor through microenterprise
development, ASKI today serves more than 136,000 clients through 72 branches and 7,794
solidarity groups in 234 cities and towns. The non-profit institution earned its Smart Certification
in late July following a mission conducted by Microfinanza Rating, but is being publicly
recognized today in conjunction with the Asia-Pacific Financial Inclusion Summit 2015, in
Manila.
Ms. Pia Roman of Bangko Sentral ng Pilipinas (BSP) will present the Smart Certification
certificate to ASKI executives. BSP has taken serious and deliberate measures to expand the
availability of quality financial services in the Philippines, and the Campaign has found a strong
ally in BSP in its work on consumer protection. ASKI’s recognition for certification is also being
supported by MCPI, the Microfinance Council of the Philippines, and its director, Mr. Allan Sicat.
To learn more about financial inclusion in the Philippines, check out the FI2020 Inclusion
Visualizer, a powerful new tool to manipulate, visualize, and download images of data related to
financial inclusion - across country, region, and income levels.
Opportunity International has also been generously supporting ASKI in its journey toward Smart
Certification.
The Smart Campaign’s Client Protection Certification Program contains a core set of standards
against which institutions are evaluated by independent, third-party evaluators. Smart
Certification publicly recognizes those institutions providing financial services to low-income
clients with a standard of care that upholds the microfinance industry’s seven Client Protection
Principles, which cover such critical practices as transparency, fair and respectful treatment,
responsible pricing and prevention of over-indebtedness.
The number of clients served by Smart-Certified financial institutions around the world now
totals more than 21 million.
About the Smart Campaign
The Smart Campaign is a global movement to embed a set of client-protection principles deep
within the microfinance industry. It is governed by a Steering Committee representing a broad
cross-section of the industry, and is housed at the Center for Financial Inclusion at Accion. By
providing microfinance institutions with the tools and resources they need to deliver
transparency, respectful and prudent financial services to all clients, the Smart Campaign is
helping the industry maintain its commitment to treating clients fairly. More information on the
Client Protection Certification Program can be found here.
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Media contact: Bruce MacDonald Center for Financial Inclusion at Accion Tel. +1 617-625-7080 (x1245) [email protected]
