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The Bombay 5-6 moneylending system is an informal lending practice prevalent in the Philippines, historically associated with small-scale, short-term loans provided by Indian-Filipino lenders, often colloquially called “Bombay.” This system is named "5-6" due to its interest structure: for every PHP 5 borrowed, borrowers repay PHP 6 ...
In 1915, the Public Welfare Board (PWB) was created and tasked with studying, coordinating and regulating all government and private entities engaged in social services. In 1921, the PWB was abolished and replaced by the Bureau of Public Welfare under the Department of Public Instruction.
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund (acronym of its Filipino name: Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno [a]), is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable ...
The National Innovation Council (NIC; Filipino: Pambansang Konseho sa Inobasyon) is the Philippine government's highest policy-making body for national innovation development. It was established to develop the country's innovation goals, priorities, and long-term national strategy established by virtue of Republic Act No. 11293 or the ...
The Philippine Charity Sweepstakes Office (PCSO, Filipino: Tanggapan sa Charity Sweepstakes ng Pilipinas [2]) is a government-owned and controlled corporation of the Philippines under direct supervision of the Office of the President of the Philippines. It is mandated to do fund raising and provide funds for health programs, medical assistance ...
CIBI Information, Inc. or CIBI, formerly known as Credit Information Bureau, Inc., is the first and the only local credit bureau in the Philippines.CIBI started as a government entity under the Central Bank of the Philippines Department of Loans and Credit to initiate a credit information exchange system in the country.
Solidarity lending lowers the costs to a financial institution related to assessing, managing and collecting loans, and can eliminate the need for collateral. Since there is a fixed cost associated with each loan delivered, a bank that bundles individual loans together and permits a group to manage individual relationships can realize ...
Unconditional cash transfers could vary in a number of ways: [4] They could be one-off or recurring: One-off unconditional cash transfers involve either a literal one-time transfer or a transfer over a short period of time, intended to provide people money that they could use for long-term expenses.