MANILA, 06 August 2019 – “The CIC would like to enable the microfinancial institutions (MFIs) to lend more, lend to more, and lend more safely “, PCEO Jaime Casto Jose P. Garchitorena at the renewal of Memorandum of Support between the CIC and Microfinance Information Data Sharing Inc. (MIDAS) held at the Manila Prince Hotel, Malate, Manila last 26th of July 2019.
Witnessed by MFIs coming from various parts of the country, PCEO Garchitorena said that the CIC would like to empower the MFIs through trainings and applications of technologies enabling a convenient process of data submission to the CIC.
“The CIC is more than committed to not just apply the letter of the law, but the spirit of the law as well”, Mr. Garchitorena said adding that one of the goals of the CIC is to expand the accessibility to credit and to provide credit information that will protect both the borrower and the lender at the least possible cost and at the least possible effort.
With CIC looking forward to empower around Six (6) Million borrowers from the microfinance sector to have access to credit, the central credit registry of the Philippines will continuously to seek ways on improving data points, making it more accessible to the SEs to achieve a comprehensive and reliable centralized credit information system.
Also present at the signing of memorandum were MIDAS President, Mr. Angel L. De Leon Jr., MIDAS Chairman, Mr. Jaime Aristotle B. Alip, Allan Robert I. Sicat, Executive Director of the Microfinance Council of the Philippines, and Fr. Jovic Lobrigo, President and CEO of SEDP-Simbag sa Pag-asenso, Inc., CIC SVP for Finance & Administration Group, Ms. Milcah A. Capundag, CIC Activing SVP for Credit Information Management System, Ms. Bernadette B. Bautista, and CIC SVP for Business Dev’t & Communications Group, Atty. Aileen L. Amor-Bautista.