Saturday, October 30, 2010

Unlocking the Potential: Islamic Finance in the Philippines

“We have Muslim brothers who avail (financial) services but the way they avail (these loans) is against our culture, against our beliefs.” ~Muslim leader, Davao, Mindanao
 
Islam first reached the southern shores of the Philippines during the 14th century and played a critical role in unifying kinship groups in several Filipino communities. With stronger networks of brotherhood and newfound Islamic faith, these communities were able to resist colonization by Spain and America for over 400 years, preserving their culture and religion. Today, though the majority of Muslim communities are concentrated in the southern portion of the Philippines archipelago, some reside in pockets throughout the islands; Filipino Muslims comprise approximately 5% (4.7 million) of the Filipino population (Roces, 2009).

Recognizing the need for a loan product more suitable to Muslim borrowers, CEVI has recently developed and launched an Islamic Finance product that is being piloted in Davao, Mindanao.

To read more about CEVI's course in expanding outreach to Muslim clients, please visit the Kiva Fellows Blog

Bonus Photo!
The first 10 Muslim clients involved in the pilot alongside the local Muslim leader, Chairman of World Vision, and Head of DMI. Photo courtesy of the CEVI Davao Branch.





Let's Hear the Clients' Voices

Social performance management (SPM) has become an increasingly important topic in the microfinance sector – concerned donors, funders, and individuals alike have been paying close attention to how microfinance institutions (MFIs) balance their financial and social goals. In order to get clients’ perspectives, our team at Community Economic Ventures, Inc. (CEVI) conducted focus group discussions (FGDs) with members across the 5 CEVI branches in the province of Bohol.

We developed interview guides/modules based on the CERISE SPI tool – creating questions and group exercises related to the following topics: products and services, policies, over-indebtedness, staff relations, feedback and communication, client benefits, community development and child well-being. Over a span of four days, our team was able to collect data and feedback from client groups to gain a better understanding of how CEVI is perceived by those it aims to serve.

To read more and see pictures, visit the Kiva Fellows Blog!


Thursday, October 14, 2010

Kiva’s Asia-Pacific Conference – Social Performance, Poverty Assessment & the Frog Dance

As with most Kiva lenders, we believe in microfinance as a poverty alleviation tool. A tool to help the communities it serves by lending money to entrepreneurs to grow their businesses, and improve their incomes. We hope our money is going to MFIs who are looking out for the borrowers, not profiting off their backs. But how can we be sure? How do we know an MFI is achieving its social goals? And as an MFI, how can you monitor your social performance?


To read more (and for pictures) check out the Kiva Fellows Blog.

Financial Diaries of the Poor

How do 2.7 billion people manage to live on $2 a day? Jonathan Morduch and his research team tracked how approximately 300 poor families in urban and rural Bangladesh, India and South Africa manage their money.

How to live on $2 a day

 


Wednesday, October 13, 2010

Happy 5th Birthday Kiva!

Community Economic Ventures, Inc wishes Kiva a very happy birthday! Since we couldn't be in San Francisco to celebrate, we had our own mini-celebration :)



Read more about Kiva's 5 for 5 challenge for the month of October - if you get 5 new friends to make a loan on Kiva this month, you get $25 Kiva credit in your account.

Wednesday, October 6, 2010

Filipino Superstition: Twinanas

According to Filipino superstition, a woman who consumes a twin banana (or 'twinana' as I like to call it) will give birth to twins. However, if a woman has no desire to give birth to twins and would like to consume the twinana, she must simply split the twin bananas behind her back. I decided to test this theory - if I end up having twins, we'll know why!

I must also say that the twinana was the sweetest set of bananas I've ever had! So yummy!

Saturday, October 2, 2010

A Sweet Recipe: Mango Ice Candy


Story:
Ice candy is just another term for a fruity popsicle. Given the heat and humidity of the Philippines, ice candy is rampant and can be found at sari-sari (variety) stores, carinderias (eateries) and even on street corners. Ice candy is easy to make and very economical, especially when made in large batches. After a long day of sightseeing around Bohol, staff members from CEVI and I decided to cool off by preparing frozen treats for ourselves. It was a sweet way to end our day!



Recipe:
Prep Time: 15-20 minutes, Yield: 15 servings

Ingredients:
    * 2 cans (500 ml) evaporated milk
    * 3 mangoes or seasonal fruit of your choice
    * 1 can (168 ml) condensed milk
    * approximately 1.5 cups water
    * approximately 1 tablespoon sugar
    * 15, 1 ¾ x 10 plastic ice candy bags

Preparation:
1.     If you have a blender, slice the fruit into large pieces and chop to your liking. If you do not have a blender, slice the mangoes into very small pieces with a sharp knife. Scoop fruit into large bowl.
2.     Mix fruit, evaporated milk and condensed milk in a large bowl.
3.     Slowly add water and sugar – stir till mixture is even and taste. You may add more/or less water and sugar till the mix is to your liking.
4.     Place a funnel at the opening of the ice candy bag, holding the casing tightly so that the mixture does not spill out. Fill the ice candy bags to your desired height, but be sure to keep 6-7 cm (about 4 fingers across) at the top to make room for the knot.
5.     Make a secure knot at the top of each bag to properly seal. Twist the plastic just above the point where the mixture levels off. As you pinch the twisted plastic with your thumb and forefinger, wrap the top part over your thumb and tuck it under, pulling it through the loop. Make certain that the knot is tight to prevent bags from leaking.
6.     Once all your ice candy bags are filled, rinse them off with water to remove excess mixture. Then lay them on a flat surface in the freezer till fully set.

Serve when you feel like enjoying something sweet or would like to cool off from the heat!

Note: If you prefer to make smaller ice candies, you can purchase smaller plastic bags. This recipe makes about 15 large ice candies.