|Event Start Date:|
February 3, 2021
|Event End Date:|
February 3, 2021
PROFILE OF MINDANAO MICROFINANCE COUNCIL, INC.
The Mindanao Microfinance Council, Inc. (MMC) is known to be one of the active microfinance associations in the Philippines, since it was formally registered with the Philippine Securities and Exchange Commission on March 25, 2004.
Currently, the Mindanao Microfinance Council is being comprised of 23 member institutions, wherein, 11 of which are Microfinance NGOs, namely as follows:
1.) ASA Philippines Foundation, Inc.
2.) Bangko Sa Balay Foundation, Inc.*
3.) Bukidnon Integrated Network of Home Industries, Inc.*
4.) CARD, Inc.
5.) Community Access for Resources on Entrepreneurship Foundation, Inc.*
6.) Kasanyangan Center for Community Development Microfinance Foundation, Inc.*
7.) KPS-SEED Microfinance, Inc.*
8.) LIGHT Microfinance, Inc.
9.) Serviamus Foundation, Inc.*
10.) Spes Pauperum Foundation, Inc.*
11.) Surigao Economic Development Microfinance Foundation, Inc.*
Note: *Only eight (8) out of the eleven (11) Member Microfinance NGOs of MMC originates from and
actually have their head offices in Mindanao.
Pursuant to the Implementing Rules and Regulation of RA 10693 (Microfinance NGO Act), the Board of Trustees of the Mindanao Microfinance Council has decided to declare its Five (5) – Member Executive Committee to likewise serve as the Nomination and Election Committee (NOMELEC) to duly evaluate the qualification of nominees, conduct the nomination process and officially approve three (3) nominees of MMC for the Mindanao Microfinance NGO Representative to be part of the Microfinance NGO Regulatory Council.
Details of the Nomination Procedure are as follows:
1.) The Nomination and Election Committee (NOMELEC) sets the Qualification Standards for the nominees in addition to the Minimum Qualifications of Private Sector Representatives to the Council, which were already stipulated at the Implementing Rules and Regulation of RA 10693 (Microfinance NGO Act);
2.) The MMC Secretariat collects the Curriculum Vitae and nomination form of the nominees from each Microfinance NGO to be summarized and presented to the Nomination and Election Committee (NOMELEC) for initial assessment to make sure that nominees are able to meet the qualification standards set by the NOMELEC and those stipulated at the IRR;
3.) Once the NOMELEC has sorted the list of qualified nominees, the NOMELEC will declare three (3) official nominees of the Mindanao Microfinance Council to be part of the Microfinance NGO Regulatory Council;
5.) The President of the Mindanao Microfinance Council will then submit a certification under oath to certify the declaration of three (3) official nominees of MMC, together with their CVs and nomination form to the Microfinance NGO Regulatory Council.
Minimum Qualifications of Private Sector Representatives to the Council as per IRR of RA 10693
1.) Citizen and resident of the Philippines for at least two (2) years immediately prior to his/her nomination;
2.) With at least five (5) years experience as a Trustee, President or Officer of a Microfinance NGO;
3.) No record of final conviction for an offense involving theft, fraud, falsification, forgery, perjury or any administrative offense or crime involving moral turpitude; and
4.) A person of known probity, integrity and good moral character.
QUALIFICATION STANDARDS SET BY MMC NOMELEC
1.) The Nominee should be a key officer of a Microfinance NGO, which originates from and actually has its head office in Mindanao;
2.) Must have the time and commitment to perform the duties and responsibilities of being a member of the Microfinance NGO Regulatory Council;
3.) Should possess professional skills in monitoring, evaluating and implementing microfinance programs for MFIs’ sustainability and efficiency;
4.) Knowledgeable in setting financial and social performance standards of MFIs.