Microenterprise Access To Banking Services

The Microenterprise Access to Banking Services (MABS) program is an initiative designed to accelerate national economic transformation by encouraging the Philippine rural banking industry to significantly expand access to microfinance services. To do so, the MABS Program assists partner rural banks in the Philippines to increase the financial services they provide to the microenterprises, small farmers, and low-income households by providing microfinance technical assistance and training. Trained banks in turn develop and improve financial services – loans, deposits, money transfer services - specially tailored to microenterprises, small farmers, and low-income households. Under the program rural banks are encouraged and assisted to develop and offer new and innovative products and services such as micro-agri and micro-housing loans, to utilize technology such as mobile phone banking to lower costs and improve efficiency of their operations, and to work with partner insurance service providers to develop and offer appropriate micro-insurance products to their clients. MABS is supported by the United States Agency for International Development (USAID) and implemented by the Rural Bankers Association of the Philippines (RBAP), with oversight from the Office of the Philippine President provided by the Mindanao Development Authority (MINDA) and principal contract managed by Chemonics International.