CARD MRI Founder talks about good governance in RIMANSI Lecture Series 2021
In celebration of the 16th Annual General Meeting of Microinsurance MBA Association of the Philippines Inc. (MiMAP/RIMANSI), a lecture series entitled “Promoting Good Governance through Strengthened MBA-MFI/Coop Partnership” was held via Zoom videoconferencing on March 22, 2021.
A total of 70 participants from the board managers and senior staff of the Mi-MBAs and its partner microfinance institutions and cooperatives attended the activity.
To discuss about the key elements, principles, challenges, and recommendations in strengthening and sustaining their partnerships towards the promotion and practice of good governance, MiMAP/RIMANSI invited CARD MRI Founder and Chairman Emeritus Dr. Jaime Aristotle B. Alip to share about CARD MRI’s tested and proven model for a mutually beneficial partnership.
Dr. Alip spoke about the key principles of the CARD MRI model, “Since we established CARD MRI in 1986, our main focus is the poor women in the marginalized sector and hard-to-reach areas. Together with other development practitioners, we saw how these women needs our support especially in terms of financial access.” He emphasized that since then, the institution implements a holistic development approach in serving clients.
In sustaining the CARD MRI model, Dr. Alip talked about how they faced the challenges through the years. “The idea back then was to establish a microfinance institution that provides financial services to clients. As time goes by, we observed that many of our clients also needed security in times of uncertainties.”
In 1999, CARD MRI established its microinsurance arm, the CARD Mutual Benefit Association (CARD MBA). “Even though we didn’t have enough background about the microinsurance industry, we dealt with it and eventually gained sufficient knowledge from individuals who selflessly shared their expertise with us.”
To ensure that products and services were responsive to the needs of clients, the CARD MRI management decided to give the leadership to the clients. “We, at CARD MRI, nurture and value the comments and suggestions from our clients. We listen and give them the opportunity to take a step forward to speak in behalf of their fellow clients. We also admire their sense of responsibility. Many of them already changed their lives.”
As part of its strategy to promote good governance, CARD MRI and CARD MBA ensure financial transparency to its clients. Dr. Alip emphasized that sharing the financial status to clients is a good strategy to gain and see that the institution is on the right path. “We regularly report monthly financial status and internal audit. Annually, we conduct external audit from reputable audit firms to see if the procedures were strictly followed and implemented.”
Dr. Alip concluded that CARD MBA together with other social development institutions under CARD MRI will push its charge is pursuing its mission to eradicate poverty in the county.