L-R: Prof. Muhammad Yunus, Dr. Jaime Aristotle B. Alip, CARD
MRI Managing Director Flordeliza L. Sarmiento, Dungganon
Bank, Inc. President Corazon Henares, ASA Philippines Senior
Director Maria Regina Pacifico, and Taytay sa Kauswagan (TSKI)
Chairman Angel de Leon, Jr.
CARD MRI joins
the 2019 Social Business Youth Summit
March 26, 2019
SAN PABLO CITY –
CARD Mutually Reinforcing Institutions (CARD MRI), led by its
founder Dr. Jaime Aristotle B. Alip joined by its key leaders and
CARD-MRI Development Institute Students, participated in the 2019
Social Business Youth Summit on March 23, 2019 at the De La
Salle-College of St. Benilde, Manila.
Dr. Alip opened the
breakout session entitled Microfinance Forum. He shared the
contribution of MFIs in the fight against poverty in the
institutions, we are tasked to ensure that more Filipinos have
access to financial services. One Filipino family with access to
finance is one family moved out of the poverty line. This is our
duty to fulfill. This is our mandate as catalysts for social change
and our contribution to the eradication of poverty,” he said.
Nobel Peace Prize Awardee
– Professor Muhammad Yunus is the keynote speaker of the
Microfinance Forum. He said that in microfinance nobody should have
personal gain. As what he espouses in all his years of working in
micro credit and microfinance, the ultimate goal is zero poverty.
“Poverty should be in the museums,” he reiterated.
Speaking before Professor
Yunus are Bangko Sentral ng Pilipinas Managing Director Pia
Bernadette Roman Tayag and Microfinance Council of the Philippines
Chairperson Fr. Jose Victor Lobrigo both sharing the contribution of
MFIs in the country as it evolves.
Tayag said that BSP will
not stand in the way of MFIs to reach more poor Filipinos but
through proper governance and strict implementation of policies
adding that BSP will also enable technologies that will ensure its
Meanwhile, Fr. Lobrigo not
only highlighted the evolution of MFIs in the country but also
identified challenges it faces now and in the future especially the
smaller MFIs in the country.
One critical part of the
forum, with Dr. Alip as the discussion catalyst, is the panel
discussion on the integration of social business with MFI movement.
Panelists Professor Yunus,
CARD MRI Managing Director Flordeliza Sarmiento, Taytay sa Kauswagan
(TSKI) Chairman Angel de Leon, Jr., Dungganon Bank, Inc. President
Corazon Henares, and ASA Philippines Senior Director Maria Regina
Pacifico all shared that integration is possible since MFIs are
already doing social businesses within its institutions and through
the institutions it created.
Professor Yunus said that
the seven principles of social business must be implemented in the
way of doing business. He shared that in order to prevent one from
being greedy, a social business audit must be done regularly and
secure a social business certificate every year.
The 2019 SBYS, which is a
two-day event, is the leading youth forum where youth across borders
get the exclusive opportunity to learn from and interact with
experts in the field of social business.
About 400 delegates from
the Asia Pacific Region gathered for the said event. The said summit
also opened more doors for MFIs to be known as a tool for the
eradication of poverty in the country and how it integrates with
This is the 6th edition of
SBYS, which showed the continuous global commitment of the youth in
connecting with social business and in achieving the “Three Zeroes”
- Zero Poverty, Zero Unemployment, and Zero Net Carbon Emissions.