BSP’s New Rules on Interest Rates Promote Transparency

The new rules by the Bangko Sentral ng Pilipinas (BSP) (Circular No. 730, Series of 2011) that seek to promote transparency in loan prices by requiring all banks to charge interest based on the outstanding balance of a loan at the beginning of an interest period, and to quote the effective interest rates of loan products [...]

Rural bankers embrace more transparent services

Manila Times - Making the pricing of bank products transparent has lately been a hot topic among bankers in line with the global trend towards accountability in the aftermath of a financial turmoil that brought down even the world’s banking giants. It is widely held that the debacle was caused by fraud and greed and the [...]

RBAP stands behind pricing transparency initiative for microfinance

The Rural Bankers Association of the Philippines (RBAP) joined the Microfinance Council of the Philippines (MCPI) in hosting a series of pricing transparency workshops in Davao, Manila and Iloilo City in March 2011.  Led by MFTransparency, representatives from various rural banks, cooperatives, and NGOs involved in microfinance came together in an effort to take a [...]