As noted by my colleague, Derville Rowland last week: “when it comes to outsourcing arrangements, governance and risk management standards are emphatically not where they need to be.”9 From the board down, this needs to change, such that insurance firms can demonstrate that they are discharging all of their obligations when they outsource any insurance activities, as if they were performing them themselves.
Not only have they been liberated from the cycle of poverty, they are attaining financial security for themselves and their families. Let us therefore resolve to continue to work together to nurture and expand our base of microenterpreneurs all over the country. Thank you all. Mabuhay ang microfinance! 2  BIS Review 61/2008