At the same time, our banks find that their bottom line is getting better from microfinance. Today, an increasing number of microfinance banks offer a wider range of products including housing microfinance, micro-agri loans and the distribution of microinsurance. Microfinance therefore is a win-win program. In the Philippines, this did not happen overnight.
The policymaking process evolved from dialogues with our regulated entities, as well as consultations with other stakeholders in the microfinance industry. We institutionalized such meetings with bank associations... to discuss emerging regulatory and market issues. We also expose draft regulations prior to their issuance, and administer feedback surveys.